🚀 go-pugleaf

Forwarded Message:

From: Andreas Schwabe <andreas@elcocomp.com>
Subject: !!!!WONDERFUL URGENT NEWS!!!!


Here's some wonderful news:

Greetings one and all!


 thank you thank you thank you thank you thank you thank you thank you thank
you thank  you thank you thank
you!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!  to each and every one
of you who wrote the letters, made the phone calls, offered your help,
 your moral and financial support without which the news might have been
different.

 i am ecstatic to be able to tell you that the battle has been won! the
foundation board is  stepping aside and a new interim board will take over
as of monday. there is much work to be done but it can wait for one day as
we all take an evening off to CELEBRATE!!!

 what follows is the text of the official press release out of calgary.
you'll need to read between  the lines  at certain points but do not dismay:
CKUA is coming back!

 also understand that there is a HUGE task in front of us over the next week
as the interim  board endeavors to get the station back up and running. i
have no confirmed start up date  yet but, personally, i hope that everything
comes together by next weekend.

 standby.....CKUA is about to rise again!

-----





 Calgary, April 11/CNW/ - The CKUA Radio Foundation Board of Directors has
concluded its review of restructuring opportunities and selected an option
for CKUA.  The station went off the air on March 20, 1997 based on a
business decision to avoid  bankruptcy and to ensure sufficient funds to
either wrap up the operations of CKUA or  restructure the business. The
Board then undertook an extensive review of potential  opportunities for the
station. Under consideration were a wide range of options  including
downsized operations, private sector involvement, institutional partnerships
and disposition of  the station.
 The Board was aware of a group represented by Tommy Banks and that this
consortium was  interested in the continuance of CKUA. A meeting was held
with the Board in Calgary on April 10, 1997. The Board clarified for Mr.
Banks that the Foundation was private, the Board was  elected from its
members and that it held the broadcast license and the assets of CKUA.
Government officials attended the presentation by Mr. Bamnks and then
departed to allow  the Board to deliberate.
 Mr. Banks said that he believed his supporters could bring back CKUA to its
listeners. He  cited considerable support by many thousands of people.
However, it was admitted his group  did not have a business plan to operate
the station nor did they yet have sufficient funds in  place.
 The CKUA Board decided this last opportunity to bring CKUA back should be
implemented,  despite the lack of assurance that it is financially feasible.
Board members felt the spirit of  accord was such that if there is a chance
to put CKUA back on the air, this is likely the best  option. CKUA's Board
was pleased both groups kept their discussions focused towards  bringing
back CKUA for the benefit of the listeners.
 As a result, the Board of CKUA has decided to implement a complete
transition of operations  to Mr. Banks and his coalition. The Board felt,
despite a request to the contrary, that it was  best if they stepped aside
totally and allowed the new group a fresh start. As a result, the  entire
Board of CKUA will resign effective April 14, 1997 and will take the
necessary steps to  allow Mr. Banks and his group to install new members and
a Board of Directors. 

 The Board and Mr. Banks mutually agreed that they would need considerable
help with  developing a business plan and Gail Hinchliffe has agreed to
continue in her capacity as  Chief Executive Officer to provide transitional
counsel. The Board strongly encourages the  new Board to utilize Ms.
Hinchliffe's expertise as they begin the changes.  "Gail has been the focus
of considerable public attention. In 1994 she championed a plan to  save
CKUA and in 1997 through her strong will and management has provided CKUA
with  this opportunity to move forward. Her commitment towards CKUA is
applauded by the Board  and Mr. Banks who collectively thanked Gail for her
dedication," concluded out going Vice  Chairman, larry Clausen.

 -O- 04/11/97
 /For further information: Gail Hinchliffe, CKUA Foundation, (403) 262-2200


 ******
--------------------------------
Andreas Schwabe (andreas@elcocomp.com)

Save Alberta Public Radio!
http://www.spooge.com/saveckua