Release date: 10 Sep 2004

Boulder-Based Community Radio Station KGNU to Buy Denver AM Signal 1390

KGNU’s Unique Blend of Independent News and Music Now Available in Denver

(Denver) Public Radio Capital (PRC) represented Boulder, Colorado community radio station KGNU in its purchase of Denver station KJME (1390 AM), allowing the volunteer-driven broadcast institution to bring its independent news and diverse music to the state’s largest metropolitan area.

Thus far, three participants in "More Channels, More Service" have purchased new stations. In addition to KGNU’s purchase in Denver, High Plains Public Radio headquartered in Garden City, Kansas bought a station in Amarillo, Texas; and KOSU, licensed to Oklahoma State University, has just announced adding public radio service in Tulsa, Oklahoma.

Public Radio Capital represented KGNU in its negotiations with the owners of KJME. KGNU is purchasing the station for $4.1 million, and has already raised $1.2 million from supporters for the down payment on the purchase price. Over the next three years, KGNU must raise another $4 million to cover the cost of the signal and broadcasting.

"Though we've worked with many public stations, educational institutions and others across the country to broaden the reach of public radio services, this project is different," said Marc Hand, a PRC managing director. "KGNU is in the unusual position of expanding from the smaller Boulder market to the much larger Denver metropolitan area – usually the reverse is true for public stations. And it’s rare for a community station that relies heavily on volunteers to buy another station. But it’s a further sign of the growing importance of all kinds of public and community radio services. It demonstrates the need for sound business and entrepreneurial skills and expertise to realize these stations' goals."

KGNU was one of 12 participants in a recently completed Public Radio Capital project called "More Channels, More Service" funded in part by the Corporation for Public Broadcasting. The purpose of the project was to prepare organizations like KGNU to acquire new outlets.

About KGNU

KGNU broadcasts local and national alternative news programs including Democracy Now, Free Speech Radio News, The BBC, and Counterspin.

In addition to its news and public affairs programming, KGNU broadcasts a diverse mix of music, including world, folk, hip-hop, reggae, ragtime, Latin, blues and bluegrass.DJs are local volunteers who create their own play-lists.