We continue to work on getting the $2.4M commitment letter prior to the May 28th deadline.  Our financial advisers now tell us that lenders  need at least 25% or $600,000 to be in place in gifts received or verifiable three year pledges in order to be given serious consideration for a commitment letter.  Bottom line.  We need your help!  We have nearly 60% raised but we are not there yet.  Every gift counts.  Please call me 509-6726 or email me at ed@wasatchpublicmedia.org  if you have questions and/or if you would like to make a pledge toward the $600,000.  I am working as hard as I can to meet with as many individuals as I can but I can’t do it alone.

Please check KCPW’s website to get updates as to the programs changes we are making as well as awards we received for outstanding journalism.  We are making a difference.

Thanks again for everyone’s support!

Initial Board members for WPM selected

I am pleased to announce that three individuals have agreed to be the initial members of WPM’s Board of Directors. They are Jen Milner, Mark Coren and John Hurdle MD. All three have been strong supporters of WPM’s efforts to buy KCPW. Biographies of the three board members will be posted shortly. The new board will be selecting additional board members in the near future.

Fund-raising continues

The second Alta Club event will take place on Wednesday, April 16th at 8:30 am, hosted by Steve Denkers. People who are interested in helping with the capital campaign by giving financial support or helping to identify others who may be able to help are invited. Contact Mary Fraser at KCPW 801-598-1445 if you would like to attend. We have begun to submit proposals to foundations and individuals asking for their support in obtaining the $2.4M commitment letter that must be in place by May 28, 2008.

Operating Agreement Nearly in Place

We continue to negotiate an operating agreement wherein WPM takes control of the day to day operations of KCPW. The agreement will be in place this week.

Formation of WPM Continues

WPM has filed its formal application to obtain a 501 (c) (3) status as a public charity. Restated Articles, Bylaws, and Conflict of Interest documents have been approved by the new Board of Directors. Additional filings with the State and IRS have been filed allowing WPM to operate as a fully operational non-profit.

Pledge Drive Coming Soon (Starts Wednesday May 14th)

Watch for information on the upcoming pledge drive. It is a critical part of our efforts to purchase KCPW. Your help and support will help make the difference.

Special thanks to KCPW staff and volunteers

I want to give special thanks to the staff of KCPW and volunteers for their incredible efforts in helping to purchase KCPW. Mary Fraser, Jodi Emery, Susan Lollini, Maren Fisher and volunteer Lynda Wendel are putting in long hours to help with all aspects of the business and fund-raising side of WPM’s efforts. And, that is in addition to the work they are putting in arranging the pledge drive and selling underwriting. The news department headed by Lara Jones and her staff including Eric Ray, Jeff Robinson, Elizabeth Ziegler and Faroe Robinson are putting in the long hours and doing great work. Andrea Ashbridge keeps everybody happy (staff, volunteers, members) with her energy and enthusiasm no matter what task or assignment. Jesse Ellis, KCPW’s engineer, works 24 hours a day, it seems, to keep everything running.

Funding/financing work on-going

We continue to work with Public Radio Capital to obtain the necessary combination of gifts/pledges and financing to obtain the $2.4M commitment letter.

Ed Sweeney will be a guest on Mid day Metro at 10am,  Wednesday, April 2, 2008. .  Ed will talk about the next steps in the acquisition of KCPW and answer listener questions.

We have started the process of moving forward in the purchase of  KCPW.  We  have a very short window of opportunity to take the purchase to the next phase. Therefore, information on where we are and what we have to do will be posted shortly.    Thanks again for everyone’s support.  It has been tremendous!

Community Wireless’s Board of Trustees unanimously accepted Wasatch Public Media’s Letter of Intent. Formal press statements from Community Wireless and Wasatch Public Media will be released today. Our sincere thanks to the Board of Community Wireless for giving us this opportunity. Thanks to the staff at KCPW for their tireless work. Special thanks to the anonymous donor who made the $200,000 gift and thanks to the over 600 supporters who wrote letters, emails, showed up at the Rally and trekked up to Park City for the Board meeting. This is just the first step but it is a monumental one.

We will post additional information on the website so everyone will know what the next steps are in the ongoing process to operate and purchase KCPW.

We continued to work with CW today trying to pound out an acceptable  Letter of Intent that works for both parties.   Keep your fingers crossed.  Thanks again for everyone’s support.