[co-author: Stephanie Kozol]*

On April 23, Rhode Island Attorney General (AG) Peter Neronha, approved the merger of Rhode Island PBS and The Public’s Radio.

The Rhode Island PBS Foundation and the Public’s Radio submitted their initial merger application on November 16, 2023, and supplemented their application on January 12. The remainder of the approval process moved quickly, with the AG hosting a public meeting to provide a forum for public comment on February 20, and accepting written comments until February 29.

Under the state’s Public Radio Conversions Act (the act), the AG’s office was required to approve the merger. The act requires the AG’s office to evaluate 31 statutory criteria that fall into four general categories: governance and board approval; valuation and due diligence; potential conflicts of interest; and harm to public devises, gifts, or bequests.

Consistent with its statutory obligations, the AG’s 17-page addressed each of the 31 statutory requirements and illustrates the considerable effort that went into approving the merger. The decision notes that public comments were overwhelmingly positive and conveyed the belief that the merger would benefit the people of Rhode Island.

Why It Matters

The AG’s approval of the merger of two public radio stations underscores the regulatory impact on both consumers and industry. It is important for companies to recognize that state AGs are trying to build proficiency and expertise in an area traditionally dominated by federal regulators. Companies must be cognizant of this reality to ensure that a deal is not delayed.

*Senior Government Relations Manager