Trustees Approve KOCE-TV Sale Terms

Coast Community College District trustees Wednesday moved a step closer to selling Orange County’s public broadcasting affiliate to a group of civic leaders by approving the terms of the sale.

Included was a surprising discount and no interest payments.

The KOCE-TV Foundation had bid $32 million for KOCE-TV Channel 50, beating out several other contenders, mainly religious broadcasters. The details of the bid include $8 million down and no payments for five years. An additional $17.5 million will be paid over the next 25 years, but with no interest charges.

Counted toward the purchase price is $2.5 million worth of programming the district will receive, which will include 600 promotional spots a year and 40 hours of telecourses to air 40 weeks a year.

The sale price was reduced by $4 million, the amount the district would have had to repay the Corporation for Public Broadcasting and the Public Broadcasting System for grants and equipment had another bidder bought the station and dropped out of PBS, district officials said.

The foundation was the only bidder that pledged to keep KOCE a public broadcasting affiliate. The board plans to sign a definitive agreement to sell the station by Feb. 8, said Erin Cohn, a spokeswoman for the district, and file an application for a license transfer with the Federal Communications Commission by Feb. 29.

The district expects FCC approval by June 30, Cohn said. At that time, the foundation could take over the station’s operation.

Bob Brown, president of the foundation, said the group has not raised the money yet but would have no trouble coming up with the funds. He said the bulk of the money would come from fewer than 20 people.