Treasurer outlines some financial details of NJN deal

The state treasurer said this morning the state will transfer the annual Corp. for Public Broadcasting Grant to the Public

The state treasurer said this morning the state will transfer the annual Corp. for Public Broadcasting Grant to the Public Media NJ entity that will run NJN after its takeover by WNET. For fiscal year 2012, that amounts to $2.2 million.

Also, the state Public Broadcasting Authority will transfer all revenue from leasing space on station broadcasting towers as well as revenue from leasing excess spectrum. He said these will amount to about $2.7 million in fiscal year 2012.

He said the state will make about a total of $4.9 million next fiscal year available to Public Media NJ.

The state will continue to fund a small management and engineering staff for the TV stations and other equipment in accordance with FCC licensing standards.

As part of the financial aspects of the deal, Sidamon-Eristoff said that regarding radio stations, WHYY agreed to buy licenses in Manahawkin, Atlantic City and Cape May Courthouse for $926,000, which equals their appraised value.

He said WHYY agreed to acquire NJN radio licenses for Berlin and Bridgeton for $612,000, also 100 percent of appraised value.

He said New York Public Radio has agreed to pay $1.1 million for licenses of four stations: WNJY 89.3, Netcong: WNIP 88.5 FM, Sussex; WNJT FM 88.1, Trenton; and WNJO 90.3 FM, Toms River.

He said again that overall the state expects to save $11 million each year from the transition away from NJN.

http://www.politickernj.com/48457/treasurer-defends-njnwnet-deal

 

 

Treasurer outlines some financial details of NJN deal