BU sells WRNI

[Garrett Wollman]

<<On Fri, 30 Jan 2009 15:25:14 -0500, "Laurence Glavin" <lglavin@mail.com> said:

> Anyway, the anonymous writer is concerned that BU let the station go
> for considerably less than its apparent appraised value.

Because the State of Rhode Island would have taxed any sale to a
commercial broadcaster to the tune of everything anyone had ever
donated to WRNI, plus two years' revenue.

Note that the Rhode Island law applies to any potentially-commercial
station licensed to a community in Rhode Island and owned by a
charitable tax-exempt organization.  At the moment, that includes
1290 and 102.7, and may apply to 1220/93.7.  It doesn't apply to 95.5,
which operates as a fully-commercial station.

-GAWollman