Monday, December 10, 2012
The radio station WYSO and its building could be purchased for $8 million by Antioch College from Antioch University Midwest under a tentative deal.
The boards of the two schools, both located in Yellow Springs, have agreed to the deal, which still must be approved by the Greene County Probate Court, according to a news release from the college.
Ownership of WYSO and its building, the Charles Kettering Building at 150 E. South College St., remained with Antioch University when an alumni-led group purchased the college in September 2009. The college had been closed for more than a year at the time, according to a news release.
In the purchase of the college, documents specified that all the assets of the college would revert to Antioch University if the college failed to gain accreditation by September 2016. The new agreement to purchase WYSO eliminates those “reverter clauses,” according to the release.
“This agreement has both symbolic and practical significance for us at Antioch College,” said college President Mark Roosevelt.
“Symbolically, WYSO is important to us. Antioch students founded the station in 1958. Practically speaking, the college and the university can move forward in a spirit of collaboration and cooperation as we both work to offer the finest educational experiences for our students,” he said in the news release.
WYSO currently has 10 full-time and two part-time staff employed by Antioch University. As part of the agreement, it is expected that the WYSO staff will become employees of the college once the transfer of property occurs. The timing of the transfer will likely take a minimum of 60 days due to Federal Communications Commission regulatory approval requirements, according to the college.Tweet