Pacifica National Board member, Grace Aaron, explains the historical context in which the present Pacifica financial crisis is taking place; the lawsuit filed against Pacifica by Empire State Realty Trust; summary judgment against Pacifica; signal swap or sale details; Pacifica’s total debt versus its total assets; two ways forward, i.e., loans or bankruptcy; Pacifica National Board votes to authorize the loan option; how the loan option does not constitute additional debt; how loans are secured; the bankruptcy option, pluses and minuses; bankruptcy committee of creditors; Pacifica hires a turnaround Interim Executive Director; Pacifica National behind in audits; loss of Corporation for Public Broadcasting funds; Pacifica’s non-profit status at risk; long-term solutions to strengthen the Pacifica Network.
Originally Aired: January 17, 2018
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