MPR parent company sells Florida music stations

American Public Media Group, the parent company of Minnesota Public Radio, will take about an $8 million loss on the sale of its south Florida classical music stations, according to a report in Current, a trade publication that covers public media.

APMG spent almost $30 million, starting in 2007, to acquire the stations. But they'll only fetch $22 million in a sale to a religious broadcaster, Current reported.

APMG has subsidized the Florida stations at a cost of more than $1 million per year. The money came from the sale of APMG assets. No MPR funds were used, a spokeswoman for APMG said.

According to Current, AMPG took on long-term debt to build its Florida network and would still be responsible for covering $8 million owed to bondholders.