JBU Board Agrees to Sell KUOA

Siloam Springs, Ark. (December 22, 2004) — After extensive consideration, John Brown University has agreed to sell KUOA to Cherokee Broadcasting, Co., owned by Dewey and Mitchell Johnson. JBU and Cherokee Broadcasting signed an asset purchase agreement and time brokerage agreement on Tuesday, Dec. 21 and filed a transfer of license application with the FCC today. The transaction is expected to close later this spring pending approval of the FCC. Under the time brokerage agreement, Cherokee Broadcasting, Co. will begin operating KUOA on Feb. 1, 2005. KUOA is expected to maintain its current programming as much as feasible during the ownership transfer period. “It was a difficult decision for the board of trustees because KUOA has been an important part of the history and support of JBU,” Dr. Charles W. Pollard, university president said. “However, after weighing the pros and cons carefully, the trustees were unanimous in their decision that selling the station was in the best interest of the university.” JBU purchased KUOA in 1935. University founder, John Brown, Sr., used the station to expand his radio ministry and to provide broadcasting training to students at the university, which it did until the early 1970’s. JBU students have not been significantly involved in KUOA operations for about thirty years. In those decades, the station was operated primarily as an endowment asset of the university rather than as part of JBU’s educational program. In recent years, the station has not provided an investment return for the endowment. The JBU board of trustees has recently begun reallocating its endowment assets into higher growth potential investments, and this decision is in keeping with that reallocation. JBU has continued its strong broadcasting program through KLRC, its DOVE award-winning, contemporary Christian radio station, which was started in 1981. Students working at KLRC participate in live remote broadcasts, promotions planning, concert coordination, production, and new program creation. “We have enjoyed great success with KLRC,” Sean Sawatzky, KLRC and KUOA station manager said. “KLRC is a non-commercial station, which is better suited to our educational and our programming goals. Because KLRC is listener supported, we are in a position to truly partner with our listeners in making an impact in the community while providing a unique training opportunity for students." KLRC is financially self-sustaining through contributions of its listeners. Support for the popular FM station is demonstrated each year during Sharathon when KLRC solicits and receives pledges to satisfy its operating budget. “In many ways, KLRC fulfills JBU’s mission today in the same way as KUOA served the university 30 or 40 years ago,” Pollard said. “It trains students; it promotes the gospel; and it is financially healthy. Through KLRC and our fine broadcasting department, JBU remains committed to educating students who will shape the broadcasting industry for God’s glory.” John Brown University is a private Christian university, ranked eighth by U.S. News & World Report in the Southern Region. JBU enrolls more than 1,900 students from 43 states and 40 countries. JBU is a member of Arkansas’ Independent Colleges and Universities and the Council for Christian Colleges and Universities.