Tuesday, Sep 30, 2014
Quincy, IL News - QuincyJournal.com
Trending on the Journal

Recent Comments

EgoReputo - Iowa company pitches Newcomb development proposal - Quincy, IL News - QuincyJournal.com
And you Mr. WarSnivel. DO realize that the QSD and the City are both public institutions subject to voter control and funding by taxpayers. Right? And you DO realized that the QSD will still be spending considerable money to maintain QHS and QJHS, which are not going to be replaced under the current “Building for Quincy” sham. And you DO realize that even new buildings require general maintenance.…
quincyhydro - Iowa company pitches Newcomb development proposal - Quincy, IL News - QuincyJournal.com
School Board only spends $66,000,000 if the referendum doesn't pass. $105,000,000 if it does pass. That's not close to the same thing.
pjohnf - IHSA to skip hearing after being denied chance to speak - Quincy, IL News - QuincyJournal.com
I agree the IHSA should be open and transparent but to hold a hearing on the group in question and they aren't allowed to express their side of story seems heavy handed and one sided. I hate saying this but pass a law making the IHSA subject to the Open Records law and then the government should butt out.
EgoReputo - Iowa company pitches Newcomb development proposal - Quincy, IL News - QuincyJournal.com
And you Mr. WarSnivel. DO realize that the QSD and the City are both public institutions subject to voter control and funding by taxpayers. Right? And you DO realized that the QSD will still be spending considerable money to maintain QHS and QJHS, which are not going to be replaced under the current “Building for Quincy” sham. And you DO realize that even new buildings require general maintenance.…
1950Brutus - Quincy Police Blotter for September 30, 2014 - Quincy, IL News - QuincyJournal.com
This is a weird one - thanks.

Most Popular

Study finds reasons Springfield Diocese Catholics have left the Church

Inquest and Investigation: Curtis Lovelace didn't call 911 immediately or attempt CPR on wife Updated

QU gets $1.5 million from the state Updated Video

Quincy man arrested in Hannibal on drug charges

Quincy School District unveils District digital conversion plan

Practice of end-of-career teacher salary bumps being scrutinized

Lovelace pleads Not Guilty

Iowa company pitches Newcomb development proposal

Network Knowledge sells farm land from Macomb transmitting site

2 years, 2 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 2 hours, 43 minutes ago

RT @mathewi: I'm surprised there are still journalists who believe social media is useless, and engaging with readers is irrelevant — but t…
nichols120 on Twitter

nichols120 3 hours, 3 minutes ago

RT @MorningMeeting1: Mayor Kyle Moore @mooreforquincy joins us today. Also, Jeff Roe of @AxiomStrategies. 10 am ct on @930amWTAD and http:…
Bob Gough on Twitter

Bob Gough 3 hours, 5 minutes ago

RT @theblaze: Wisconsin reporter “creeped out” by what Michelle Obama aide allegedly told her while covering a speech: http://t.co/rEcGlS2p…
Bob Gough on Twitter

Bob Gough 3 hours, 8 minutes ago

RT @carolmswain: President Obama has missed over half of his intelligence briefings, but somehow managed to find time for golfing... http:/…