Antioch College Acquires WYSO and Charles Kettering Building
Alumni-board mailing list — December 2012

---------- Forwarded message ---------
From: Shannon <shannondeewood@comcast.net>
Date: Tue, Dec 11, 2012 at 8:35 PM
Subject: [Alumni-board] Re: Antioch College acquires WYSO and Charles Kettering Building
To: <communications@antiochcollege.org>

To Mark and the College,
Hip Hip Hurray! Getting rid of the reversion clause is most excellent. And WYSO is icing on the cake. Thank you. Shannon Wood


On Dec 10, 2012, at 8:47 AM, Mark Roosevelt wrote:

A new agreement between Antioch College and Antioch University will eliminate any future rights of the University to have claim on Antioch College's campus or endowment.

The College and the University agreed in principle to a plan that would transfer ownership of the non-commercial FM radio station WYSO to the College.

As you might recall, owners of WYSO and the Charles Kettering Building from which it operates remained with Antioch University when the Continuation Corporation purchased most of the College's assets in September 2009, more than a year after closure.

Under this new agreement, which must be approved by the Greene County (Ohio) Probate Court, Antioch College would purchase the radio station and building for $8 million. Additionally, the University has agreed to eliminate so-called "reverter clauses" from documents executed in the 2009 asset purchase. Those clauses specified that all of the assets of the College would revert to the University under certain circumstances, including the failure of Antioch College to obtain accreditation by September 2016.

This agreement has both symbolic and practical significance for us at Antioch College. Symbolically, WYSO is important to us. Antioch students founded the station in 1958. Practically speaking, the College and the University can move forward in a spirit of collaboration and cooperation as we both work to offer the finest educational experiences for our students.

There are currently ten full-time and two part-time staff members working at WYSO, who are employees of Antioch University. As part of the agreement, it is expected that the WYSO staff will become employees of the College once the transfer of property occurs. The timing of the transfer will likely take a minimum of 60 days due to Federal Communications Commission (FCC) regulatory approval requirements.

The 33,000 square foot Kettering building had been home to Kettering Foundation's photosynthesis research, once housed in the College's Science Building. Beginning in 1983, the Battelle Memorial Institute operated in the space. Battelle Memorial Institute donated its research equipment to the College. Kettering Foundation transferred ownership of the building to Antioch University in June 1987. Thereafter, it was the home of the university's central administrative offices until April 2012 when it was remodeled to become the new home of WYSO with state-of-the-art sound studios and equipment.

The terms of the agreement are subject to certain regulatory and court approvals. The College and the University have agreed to promptly obtain all necessary approvals and to close the transactions.

— Mark Roosevelt, President, Antioch College