Saturday, Jan 24, 2015
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CoolEdge - Police-fire pensions to go up in smoke? - Quincy, IL News - QuincyJournal.com
everyone should fund their own retirement ... yes. But government gets different terms, retires early with open ended promises. So those others you want to get into a retirement plan of their own are funding the early and lucrative plans of government workers. It's not about stripping retirement from those that have it, but having everyone fund their own. "in Moline, that city has seen…
Quijote57 - Illinois education board wants $730M more pre-K-12 funding - Quincy, IL News - QuincyJournal.com
So ISBE wants more state money. How about all the money owed to the schools from previous years? That alone would go a long way for some of the financially struggling districts. I hold no hope of seeing the $750M ever trickling down when there are several hundred millions in arrears.
ChristiMay - The Patio restaurant could open as early as February 1 - Quincy, IL News - QuincyJournal.com
They must be doing something right; they have been open for over 50 years. I don't think we can say that about many other restaurants around here. If someone knows so much about their food and prices, are they the ones trying to keep out the riff-raff? As with any other business, one can choose to support it or not and should not be subject to snide comments either way. Maybe people just want…
UJacks1 - Ten now filed for Quincy School Board - Quincy, IL News - QuincyJournal.com
Will Qcy Journal give a few points on each of these candidates? What do each stand for? Against? Board of Ed - pro or con on Common Core? Their concerns regarding new building projects? Etc? Park Board - rebuild WestView GC? add an executive par 3-4? or simply move the tees? spending attitude? tax attitude?
TheyRclueless - QPD warns of "Mystery Shopper" scam - Quincy, IL News - QuincyJournal.com
This is one of the funniest clips Ive ever heard..... https://www.youtube.com/watch?v=-7OgWcwgB50

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Network Knowledge sells farm land from Macomb transmitting site

2 years, 6 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.”

 


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