American Public Media Group
 |
|
| Abbreviation | APMG |
|---|---|
| Type | Non-profit |
| 36-3503764 | |
| Headquarters | St. Paul, Minnesota |
|
Key people
|
Jon McTaggart (President and CEO) Bradbury H. Anderson (Chairman) |
| Subsidiaries |
Minnesota Public Radio American Public Media Southern California Public Radio Fitzgerald Theater |
| Website | americanpublicmediagroup |
|
Formerly called
|
Minnesota Communications Group |
American Public Media Group, formerly the Minnesota Communications Group, is the non-profit parent organization of Minnesota Public Radio, American Public Media, Southern California Public Radio, and the Fitzgerald Theater. Jon McTaggart is APMG's President and CEO.
In the second quarter 1998, Minnesota Communications Group and Greenspring Company approved the sale of Greenspring's catalog sales business, Rivertown Trading, to Dayton Hudson for $120 million. $90 million of the sale price would go into MPR's endowment fund, which then totaled only $19 million. Greenspring President Bill Kling and two other top executives received $7.3 million of proceeds via a "value participation unit" plan. Rivertown Trading started with a Prairie Home Companion–inspired "Powder milk Biscuit" poster order form in 1981.
American Public Media Group sold Greenspring Media Group, a for-profit publishing company, to Hour Media LLC in July 2013 as Greenspring was losing money. On August 27, 2014, APMG launched its podcasting network, Infinite Guest, with 12 shows, three existing APM programs, a MPR Classical program, two independent podcasts and six new ones. It is now called APM Podcasts
APMG began a series of radio station acquisition in Florida that ended up being its Classical South Florida (CSF) station group costing $30 million which was mostly paid for using bonds. APMG purchased WKCP in 2007 from Trinity International Foundation for $20 million. From Barry University in 2011, APMG purchased WPBI-FM in West Palm Beach for $4 million. With in a year, Way Media sold WNPS-FM in Fort Myers to APMG for $4.3 million. The subsidiary was losing $1 million per year. Educational Media Foundation offered $21.7 million in May 2015 for the stations. A large number of CSF's board directors resigned at APMG's acceptance of the offer before consulting the CSF board and that other purchaser could have been found for the stations. The sale closed in July 2015 leaving APMG with $8 million in bond debt over the sale price. The classical music on CSF was move online at YourClassical.org the week of July 14, 2015 with CSF ceasing broadcasting and Educational Media Foundation's Christian programming began while awaiting FCC approval.
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