Seattle TV Station KCTS Planning Sale Leaseback of HQ

Seattle Daily Journal of Commerce - March 11, 2004

KCTS Television, one of the most watched stations in the Public Broadcasting System, may sell its headquarters in a leaseback agreement to settle debts and avert legal action by PBS, the head of the station says. 'I think it's the most realistic option we have,' KCTS president William P. Mohler said Tuesday.

Three potential buyers have expressed interest in a deal for the building, located at the Seattle Center and appraised at $13.2 million, and one could make a move in as little as three weeks, Mohler said. A leaseback agreement would allow KCTS to remain in the building and manage $7.2 million in debt, which has mounted over a decade of operating losses. Sphere: Related Content