Monday, Apr 21, 2014
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eaglebeaky - Illinois lawmakers to discuss money for Obama library - Quincy, IL News - QuincyJournal.com
Wall Street was solidly in the Romney/Ryan camp last time, pjohnf. (And assuming he's the nominee, they'll certainly be in Ryan's camp in 2016.) Why is it that you seem to think that they're Obama supporters?
eaglebeaky - Illinois lawmakers to discuss money for Obama library - Quincy, IL News - QuincyJournal.com
When did presidential libraries start taking this kind of funding? (I always thought they were privately funded... or at least I remember hearing that the Clinton and Bush #43 libraries were being done that way.)
eaglebeaky - Voter rights, crime victim rights amendments set for fall ballot so far - Quincy, IL News - QuincyJo
Off-topic, but just to clarify, I will say that the disabled individuals that I've worked with aren't the least bit interested in free phones or anything like that. (Many of them will never live independently in their own communities; any such "bribes" would be meaningless to them.) Of course there are opportunists who do try to take advantage of every social program under the sun, and…
AYHSMB - Illinois lawmakers to discuss money for Obama library - Quincy, IL News - QuincyJournal.com
Correct me if I'm wrong, but I believe Reagan, Bush 1, Clinton, and Bush 2, had libraries built with private funds. I can't believe Soros or Buffett (or the Clinton's ;P) aren't contributing to the bill for Obama. Rahm is even stumping for it, as he says it will be a big tourism money maker. Hey, I'm all for it, if it is. On a side note, I think this is the first presidential…
eaglebeaky - Voter rights, crime victim rights amendments set for fall ballot so far - Quincy, IL News - QuincyJo
I honestly couldn't care less about anybody's party affiliation. This ID issue actually has A LOT to do with poor people, the elderly, and people with disabilities -- regardless of their personal politics. (There are a lot of poor people in the south who are lifelong Republicans.) Arbitrarily-enacted voter ID laws ultimately won't disenfranchise you or me... but they do have a real…

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Network Knowledge sells farm land from Macomb transmitting site

1 year, 8 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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