Pacific Lutheran University says it is selling KPLU to another Seattle public radio station — KUOW.
The agreement would result in two stations: KUOW would continue to broadcast NPR and northwest news. KPLU’s current signal would covert to an all-jazz format.
KUOW would take over operation of both stations. Thomas Krise, President of Pacific Lutheran University says the deal with the University of Washington is worth $8 million.
“KPLU has been a really terrific service for our region, and it’s been a great partner for the university over this period of time. We’re very pleased to have the University of Washington and KUOW as the buyer for this asset.”
The proceeds of this sale will go to PLU’s endowment, which currently stands at more than $85 million dollars.
The University of Washington Board of Regents is voting this afternoon on the proposal.
PLU hopes to finalize the details by the end of December. The deal will then go to federal regulators for approval. That process usually takes four to six months.
KPLU employs 36 people full time and 15 part time.