The Curators of the University of Missouri have one television station and seven radio stations, all located within their state. Now they have a deal that will bring in a station on the Illinois side of the Mississippi River.
The station is WQUB-FM Quincy IL, and the seller is another school, Quincy University.
Over half of the price of the station will keep QU messaging on the station for five years after closing – it is to receive $50K worth of underwriting announcements during that period at the going rate for such announcements.
In addition, UM will pay $40K in cash, bringing the value of the deal to $90K. UM is also responsible for brokerage fees of Public Radio Capital, which handled the deal.
There are two other compensatory obligations on UM: It must provide engineering and technical advice to QU as it sets up a student internet radio stations; and it must offer QU students the opportunity to apply for unpaid internships at WQUB. Both stipulations will be in force for 12 months.
The buyer must get FCC approval for a main-studio waiver that will allow it to co-locate WQUB with its flagship KWMU St. Louis, which happens to be considerably down-river from Quincy. Both WQUB and KWMU are NPR affiliates.
WQUB is a Class B on 90.3 MHz with 28 kW @ 417’.
