2 December 2009

Public Radio Capital Announces the Promotion of Evran Kavlak and New Staff Member Andrew Kim

Boulder, Colo. – Public Radio Capital (PRC) today announced the promotion of Evran Kavlak to consulting and credit manager. In addition, Andrew Kim has been named PRC’s financial analyst.

Evran Kavlak joined PRC in 2005 as financial and credit analyst. He has primary responsibility for overseeing business plans, financial models and station valuations for clients. He also serves as the project manager on a number of client engagements, including a Corporation for Public Broadcasting funded project in Los Angeles (http://www.lapublicmedia.org/). In his role, Kavlak reviews credit analyses, structures loans and monitors loan activity for the Public Radio Fund. Prior to joining PRC, he served as an accounting assistant at KPBS Public Broadcasting in San Diego. Kavlak began his career in Istanbul, Turkey at an investment trust firm, evaluating the financial conditions of publicly traded stocks in a variety of industries. He earned a master’s degree in finance from California State University in San Diego and a bachelor’s degree in management engineering from Istanbul Technical University.

Andrew Kim has joined PRC as a financial analyst. Kim has primary responsibility for preparing financial analyses, business models and station appraisals for clients. He also tracks industry trends, station prices and emerging radio technologies. Prior to joining PRC, Kim worked as a management assistant at Associated Students UCLA Finance/Business Services in Los Angeles. He earned a bachelor’s degree in business economics with a minor in accounting from the University of California, Los Angeles. While he was a student, he held a leadership role as a co-founder of the Korean Student Union at UCLA, and he has worked as an interpreter for the Korean Consulate General in Los Angeles.

“These staff changes demonstrate PRC's growth and commitment to client services,” said Dennis Hamilton, PRC’s director of consulting. “Both of these personnel developments create depth, added expertise and broaden PRC's ability to assist stations in all facets of their development.”

About Public Radio Capital

Public Radio Capital’s mission is to strengthen and expand noncommercial media to provide local communities nationwide with more in-depth information, unbiased news, diverse music and cultural programming. Since its founding in 2001, PRC has completed transactions totaling more than $220 million and secured access to public radio services for more than 43 million people. PRC has worked with more than 200 public radio stations ranging from first time station owners to the largest, multi-channel public radio operators in the country, helping them to buy and finance new channels, to preserve existing public radio outlets, and to strengthen their organizations and services.

In Oct. 2007, PRC launched the Public Radio Fund to benefit public radio organizations in need of short-term capital for asset-based projects. Public broadcasters are invited to apply for capital loans from the Public Radio Fund for station acquisitions to increase and diversify public radio program services for more people in communities across the country. The Public Radio Fund has initial investment commitments of nearly $10 million from Calvert Social Investment Foundation, Ford Foundation, Nonprofit Finance Fund, NPR, Inc., and individual investors. Loans from the Public Radio Fund range from $100,000 to $3 million. Investors in the Fund receive 0-4 percent.

More information about PRC and the Public Radio Fund is available at publicradiocapital.org.