The move to online radio for Christian contemporary music
Praise FM radio station, previously owned by North Central, has been sold to Go Media- putting a new hip-hop station called Go 95.3 onto the airwaves.
PraiseFM sold the station for almost $8 million, trumping the $5 million received by North Central with its sale to PraiseFM.
North Central vowed to keep the wishes of the founders of the organization, Fred and Grace Adam, by maintaining the Christian aspect of the radio station. The administration stayed true to its word when the radio station was sold back to PraiseFM.
PraiseFM came up with the money needed to buy back the station from North Central. Gordon Anderson, president of North Central University, said the organization exercised their first right of refusal. PraiseFM had the legal right to meet any outside offers that the administration brought to them for the sale of the station.
Referencing the initial sale of the radio station, “We’re in education, wer’e not radio people,” Anderson said.
Another benefit that PraiseFM received from their sale of the station included the ability to bring their radio broadcasting of Christian music online. PraiseFM continues to be a Christian station, without the 95.3 FM broadcasting ability.
“We feel satisfied with the sale,” Anderson said. “They got more money for it than we sold it to them for, but you don’t cry over spilled milk.”
As for the current lease of the building for the radio station, an annual assessment will be made. The radio station that bought the rights for the FM capability already have the ability to broadcast, according to Anderson. The lease can still be a source of revenue for the school.