Rhode Island Public Radio Puts 1290 AM Station Up for Sale
Agreement to Sell to Latino Public Radio Terminated
Providence, R.I. ??? March 23, 2018 ??? Latino Public Radio (LPR) has terminated its Programming Agreement with Rhode Island Public Radio (RIPR) to broadcast on 1290 AM and will cease broadcasting on the signal at the end of this month. RIPR and LPR also agreed to terminate their agreement to transfer ownership of the station to LPR, and RIPR will put the 1290 AM station up for sale.
After March 31, LPR programming will cease on the 1290 AM signal, but will stream online at lprri.org.
The AM station will simulcast RIPR programming currently heard on 89.3 FM and statewide repeaters, beginning in April and continuing until a new buyer is secured.
The move comes as LPR undergoes a strategic internal reassessment. Latino Public Radio had entered into negotiations with RIPR a year ago to purchase RIPR???s license of 1290 AM. Although the final asset-purchase agreement received Federal Communications Commission approval in late December, the parties agreed to terminate the agreement when it became clear that LPR was unable to secure the necessary financing to complete the sale.
???We regret that the budget realities at Latino Public Radio meant we couldn???t complete the station sale as both parties had hoped,??? said Rhode Island Public Radio CEO Torey Malatia. ???We???re grateful, though, that they intend to continue reaching their audience online.???
Latino Public Radio and Rhode Island Public Radio are distinct and independent 501(c) 3 non-commercial broadcasters.
LPR was founded in 2005 by Dr. Pablo Rodriguez and Reynaldo Almonte. The concept for Latino Public Radio began under an existing radio station, Exitos 88.1 F.M. broadcasting out of Providence. Six years ago, Dr. Rodriquez and the board of directors of LPR entered into an exclusive agreement with RIPR to provide its radio programming 24 hours on 1290 AM.
Dr. Rodriguez served as chair of the board throughout LPR???s history, but resigned from the LPR chairpersonship in December 2017.