A Santa Rosa, Calif., PBS station, KRCB, is the winning bidder for the San Mateo County Community College District’s KCSM, offering $12 million for the noncommercial station. The $12 million is a far cry from the $114 million the college district could have received had its employees not botched the sale of the station’s spectrum in an FCC auction last November.
The San Mateo (Calif.) Community College District staff recommended accepting a proposal to sell its noncommercial KCSM, a public broadcasting station located on the campus of the College of San Mateo, to LocusPoint Networks, a spectrum speculator owned by private equity firm The Blackstone Group. The District Board will meet Wednesday to consider the staff’s recommendation.
As expected, the San Mateo (Calif.) Community College announced Wednesday that it is seeking a buyer for the public station. In June, the board said the sale was due to the station’s projected $800,000 structural deficit.