AUSTIN (KXAN) - UT's Board of Regents met Wednesday afternoon and decided to hold off on a vote on whether to approve KUT Radio's proposal to purchase KXBT-FM Radio station to add as a service to the university's College of Communication. The board has not announced when it expects to address the proposition.
UT System Chancellor Francisco Cigarroa requested the board table the matter at its July meeting because there were still lingering questions about the $6 million acquisition.
According to KUT Radio, the station it hopes to acquire will be operated as a noncommercial music station by KUT.
UT determined that the purchase of KXBT Radio will contribute to the long term public service and sustainability of KUT by providing more educational internship opportunities, increase net revenues and establish KUTX music as an on-air and digital destination for Austin music.
According to KUT's proposal to the Board of Regents , UT will pay $6 million to Border Media Business Trust to acquire the license and all assets relating to KXBT-FM Radio and KUT will repay the university over the next 20 years.
UT is optimistic that, over time, revenue from the strengthened services will help KUT build reserves to maintain new studios in the Belo center for New Media to provide for more educational and financial opportunities, officials said.
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