Washington area college takes radio station off the market
A radio station in the Washington D.C. area that was sought by the parent company of Minnesota Public Radio has been taken off the market.
The Columbia Union College board of trustees, which holds the license for station WGTS, voted Thursday to rescind its earlier action to enter into negotiations to sell the radio station license.
The college has been considering the sale of the station for the past several months, primarily for financial reasons. American Public Media Group had been considered a front-runner to buy the station, with a reported offer of $20 million.
The board of trustees met for much of the day Thursday to consider whether to choose one of the three bidders for final negotiations. Instead, it decided to take the station off the market. Some WGTS employees and listeners had petitioned against the sale of the station to APMG.
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