Public Radio Capital of Colorado is the financial advisor to the New Jersey Treasurer’s office, which is handling the contemplated sale, pursuant to December 2010 Senate bill 2406. It “authorizes transfer of certain assets of the state’s public broadcasting system to an entity eligible to operate a public broadcasting system.” In this case, “public” probably means “non-commercial.” Because there will surely be interest by non-commercial religious operators (paging “K-Love”). Pittsburgh-based broker Ray Rosenblum is watching the process and says he’s already working with two “well-financed potential bidders.” The state will no doubt be looking for as much return as it can get for these nine licenses: WNJT, Trenton (88.1). WNJP, Sussex (88.5). WNJY, Netcong (89.3). WNJO, Toms River (90.3). WNJS, Berlin (88.1). WNJM, Manahawkin (89.9). WNJB, Bridgeton (89.3). WNJN, Atlantic City (89.7). And WNJZ, Cape May Court House (90.3). The Governor Chris Christie administration is holding back the related TV licenses of “NJN”, New Jersey Network, pending further review.
Of course Public Radio Capital was involved in the recent sale of WDUQ in Pittsburgh. Sources say the deal had the stench of insider advantage which helps explain why the most publicly active and transparent group got the shaft not the signal. I hope someone is covering Public Radio Capital up close!