Friday, Oct 24, 2014
Quincy, IL News - QuincyJournal.com
Trending on the Journal

Recent Comments

tts - QPD Blotter for 10/23/14 - Quincy, IL News - QuincyJournal.com
Sounds to me like an insurance scam!
GoSalukis - GREDF supports Quincy School Building Referendum - Quincy, IL News - QuincyJournal.com
The real question is: Who in the world is looking to GREDF for voting guidance? Yawn.
mwhunter45 - REBEL MEDIA: So I have a sign in my yard - Quincy, IL News - QuincyJournal.com
I understand that teacher's do not have opulent salaries but the statement about throwing good money after bad is biased. From what I have heard, the schools are structurally sound. Also, the state should not have tell us what repairs have to be made as they should have been completed as necessary. Doesn't the school district have paid staff to understand the state laws for maintenance…
pjohnf - Rauner makes Quincy stop on downstate swing - Quincy, IL News - QuincyJournal.com
Rauner doesn't have to tell voters in Cook County to vote. they'll be voting early and often anyway, heck even dead ones vote in Cook county and republicans vote for democrats when using faulty voting machines.
TheyRclueless - QPD Blotter for 10/23/14 - Quincy, IL News - QuincyJournal.com
Stolen was a purse, wallet, credit card, iPad, 18-inch TV, GPS, cash, diamond earrings with matching necklace, and sunglasses. Doesn't everyone keep those items on an unlocked car behind your house?

Most Popular

Authorities make meth bust on Madison

Adams Co. Divorces for 10/17

School Board to outline plans for savings, old buildings if referendum passes

Illinois Early Voting starts: Cook County ballot box tries to cast GOP votes for Democrats

Bill Clinton to address workers at pro-Quinn rally

Upcoming Adams County blood drives

Quincy School Board pledges to reinvest savings from new buildings

Quincy man accused of theft from elderly woman

Network Knowledge sells farm land from Macomb transmitting site

2 years, 3 months ago by Bob Gough

Two years ago, the corporation sold its WQEC transmitting tower in Fowler

Network Knowledge, parent company of WSEC/WQEC, is selling more land as part of its ongoing strategy to restructure debt, in part by selling assets deemed non-essential to providing their programming.

“Our primary goal is to deliver quality programming,” said Dr. Jerold Gruebel, president & CEO of Network Knowledge. “We want to broadcast as much of the treasure of national programming as possible, and we want to be a valued community resource for locally-produced programs, primarily in collaboration with community groups and organizations.”

To do this, Network Knowledge has begun a strategy of reducing debt through the sale of assets and diversifying its fund raising by increasing viewer support, attracting more business partners for sponsorship of its programming and creating additional infrastructure revenues, such as increased tower leases.

Two years ago, Network Knowledge sold its WQEC transmitting tower in Fowler, Illinois. WQEC is the Network Knowledge community-licensed public television station for Quincy. With the leaseback of tower space for WQEC (at no cost), the new tower owner is able to generate revenues from tower leases while Network Knowledge was able to reduce debt equal to the sale of the tower.

Network Knowledge is presently completing the sale of farm land it owns for its WMEC/ PBS Macomb transmitting site in Colchester (completion of the sale should take 4 to 6 weeks), and may consider selling its farm land for the WSEC transmitting site in Franklin. Sale of the Colchester farm land will eliminate the line-of-credit debt Network Knowledge has with Bank of America, its primary lender, and give it funds to pay debt service on its long-term loan for approximately half of this fiscal year which began on July 1.

“This sale reduces our overall debt and gives Network Knowledge much needed relief in paying debt service, which in turn helps our operating cash flow. We retain ownership of the transmitting tower and all equipment on it.”

 


From the Newsroom

Bob Gough on Twitter

Bob Gough 30 minutes ago

Every time a liberal spouts "B-B-B-Bush!!!" after an Obama error, an angel loses its wings.
Bob Gough on Twitter

Bob Gough 36 minutes ago

@ToDisparage @SharylAttkisson Perhaps I didn't like it when the previous administration did it either.
Bob Gough on Twitter

Bob Gough 11 hours, 47 minutes ago

@daverichard I cut him today.
Bob Gough on Twitter

Bob Gough 12 hours, 1 minute ago

RT @SharylAttkisson: WHAT'S THE BIG SECRET?Why did Pres. Obama use executive privilege to withhold my Fast & Furious Freedom of Info docs? …