As September 2023 came to an end, so did the leadership power of the entity that held financial oversight and management of the non-commercial spoken word and Classical stations operating under the “CapRadio” brand, which serve the Sacramento-Stockton-Modesto DMA.
Now, CapRadio‘s interim President/GM has resigned as ongoing debt obligations cloud the continued operation of the audio brands of Sacramento State University.
Tom Karlo‘s decision to step down came from the board of directors of CapRadio following an emergency closed session meeting Thursday night.
Karlo came on board at CapRadio News, based at KXJZ-FM in Sacramento, and CapRadio Music, based at KXPR-FM in Sacramento, in August 2023. He was formerly associated with KPBS-FM & KPBS-TV in San Diego.
Under Karlo’s leadership came layoffs and the release of what CapRadio itself calls a “devastating audit” uncovering years of fiscal mismanagement under previous leadership.
In the Nielsen Audio ratings for Sacramento, both KXPR and KXJZ have experienced ratings growth over the last three months. Karlo said revenue has grown, too, with KQED-FM’s Sacramento repeater attracting a miniscule audience. Yet, Karlo said, CapRadio is “still in a precarious financial position” because of ongoing debt obligations and costly downtown building projects for a new headquarters and performance space.
“This moment is bittersweet for me,” Karlo said in a press release. “CapRadio is in a much better place than it was six months ago, but there is still a long road ahead for the organization.”
Karlo will exit CapRadio at the end of February. Taking over as interim President/GM is the Director of Technology, Frank Marazino.
Marazino is operating under delegated authority to work with the Board to “reorganize the upper management of the organization as necessary.”
Sacramento State President Luke Wood thanked Karlo, saying he built “a much stronger foundation” for the stations.
A third-party firm to conduct a forensic examination of CapRadio on behalf of the university.
