KUSP declares bankruptcy

UPDATE 8/22/16 4:45 PM: The Board of Directors of the ‘Pataphysical Broadcasting Foundation, Inc. (DBA KUSP) announced earlier this month it has filed for Chapter 7 bankruptcy.

“It is with regret that the Board takes this final step in KUSP’s long and storied history,” said Board President Matt Farrell. “While we all wished for a different outcome, there is no way to responsibly continue in the face of month-to-month operational insolvency and the accumulated debt of the station.”

KUSP 88.9 FM and kusp.org operated for nearly 45 years a non-profit community-based media company.

ORIGINAL STORY 7/31/16: Independent public radio station KUSP 88.9FM is signing off at midnight tonight after 45 years on the air.

“The decision reflects the reality of the station’s financial situation; we simply cannot afford to broadcast any longer,” said Board President Matt Farrell, quoted in a press release issued Sunday evening.

So what will KUSP listeners hear when they tune into the station? Reached this evening by telephone, KUSP Executive Officer Cathie Royer said, “Probably static.”

Back in the spring, KION reported on a fundraiser to help KUSP stay on the air. At the time, KUSP said the drive was needed because there were no reserves. While the station did raise $115,000, it was unable to raise the $300,000 necessary to stay afloat.

KUSP used to carry NPR programming. Last September, the station decided to switch formats, from news and information to music discovery, a new product that blended a wide range of music from emerging and well-known artists, along with the station’s specialty music shows.

Royer says the Board will continue to search for a buyer.