Boston Globe Item on WERS LMA Proposal

[Rob Trovato]

--- Doug Drown <revdoug1@verizon.net> wrote:

> "My understanding was that the Jones Trust was set
> to expire in 99 years (starting, it appears, in
> 1979, so that would be
> 2078), or if the classical format were to become
> uneconomical to operate."
> 
> If that's true, then as far as I can see (granted,
> I'm a layman), there's no
> way this sale can go through.  WCRB is turning a
> healthy profit, is it not?

My own speculation is that it's not just 'profit' that
holds the format in place....it's the financial
benefit to the benificiaries. (Or uneconomical to the
beneficiaries.)

After talking to a few people, Here's what I am
finding.  There are many small stockholders who own a
peice of this 100 million dollar pie.....who see
almost nothing year to year.

If the profit is, say, 1 Million dollars.

And you as a small owner own .027 of the stock, you
might see $27,000 a year.

However, with a sale price of 100 Million, they might
see 2 million.

Which would you rather have $27k for the next 99
years....and then a big payout...when you won't be
around to enjoy it?  Or 2 Million now?

(PS:  I'm doing the math in my head quickly.  But my
understanding is that some of the smaller owners are
pushing this...because they have never see any real
money from their ownership.  That's what I hear.)

Also, I believe that the legal advice the board has
gotten, is that they simply have to require that the
new owners carry Classical music on one of their
multicast streams.

Because in a literal reading....."WCRB will indeed
continue to play  classical music." (albeit on one of
their HD channels.)

Remember, the trust was written when multicasting was
not on the radar.





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