San Francisco's public schools will loan public radio's KALW up to $200,000 to keep the struggling station financially afloat even as the district faces its own financial woes and major cutbacks.No, this isn't The Onion.
The school board voted unanimously this week to provide an unprecedented line of credit to the 70-year-old station, which operates independently, but is technically owned by the district.
The station has been losing money for three years and now sits about $120,000 in the hole, said KALW general manager Matt Martin. Its annual budget is about $1.4 million, most of which is donated by listeners.
Saturday, January 15, 2011
S.F. schools to lend Public Radio station up to $200,000
The San Francisco Chronicle reports:
