Michael Rietmulder/Seattle Times music writer – KEXP has purchased San Francisco’s KREV 92.7 radio station, and pending FCC approval, “will be taking full ownership and operation” of the station “within the next few months,” according to a Thursday donor email written by KEXP CEO Ethan Raup. KEXP submitted a winning $3.75 million bid for the station as part of a bankruptcy auction on Oct. 23.
Aidin Vaziri/SF Chronicle – KEXP secures approximately half of its yearly $15 million operational budget through listener pledges, with the remaining funds sourced from grants, corporate underwriting and other avenues.
Raup said he expects positive cash flow from acquiring KREV in the next few years, facilitating the expansion of Bay Area-specific programming. A formal announcement will reveal further details about the deal and the new broadcast launch.
In Seattle, upstart KPNW had hoped to compete with a format similar to that of KEXP, with live music features etc. Check the progress of that with a look at the latest Nielsen ratings: https://ratings.radio-online.com/content/arb039