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KING-FM’s governing board oversees a non-profit organization called “Beethoven,” which was created in 1994 to assume ownership of the previously for-profit classical music station, which the two Bullitt sisters were donating. Classic KING-FM first came on the air in 1948. After KING Broadcasting sold its commercial TV operations to the company publishing the Providence Journal (later sold to Dallas-based Belo), KING-FM was donated to Beethoven to preserve the classical format and benefit local music groups.

The Beethoven board is made up of representatives from the Seattle Symphony, Seattle Opera, and ArtsFund, as well as representatives for Priscilla Bullitt Collins and Harriet Bullitt. KING-FM is owned by a non-profit but is still run as a commercial station. When it makes money, it gives the profits to the three non-profit arts groups in the partnership, who each receive a one-third share or “dividend.” That dividend has totaled $7 million over the years.

Next year will be the first time that KING-FM will not pay a dividend to the three partner organizations since the partnership was formed. When asked about the specific impacts that declining KING-FM dividends have had on the Seattle Opera, Seattle Opera executive director Kelly Tweeddale said, “Any time an arts organization loses a significant funder, it has impact.” Seattle Symphony executive director Thomas Philion said, “KING-FM is an essential part of our community, and contributes so much more than annual dividends.”

To understand how the station got into this fix, and what may be next for KING-FM, it’s useful to understand the station’s complex history and management structure.

Seattle classical music station KING-FM last week laid off three on-air hosts in a cost-cutting move. While the layoffs will reduce expenses in the short term, the future of KING-FM will require the station to generate more revenue. Station manager Jennifer Ridewood said that the board that governs KING-FM directed her to reduce expenses “proactively” in the face of looming economic troubles. Oddly enough, this crisis may be just the opportunity that KING-FM has needed for years.

According to Beethoven board member Jim Tune, CEO of ArtsFund, this past June, KING-FM paid a total dividend of $210,000, which was split three ways among ArtsFund (which passes money on to smaller musical groups), the Seattle Symphony, and the Seattle Opera. In fact, the dividend amount topped out at $750,000 during the dot-com boom of 1999, but has been in decline ever since (though stable at $500,000 from 2001 to 2006). This year’s dividend was down about 40 percent from the year before. Here’s a year-by-year rundown: 1995, $200,000; 1996, $400,000; 1997, $425,000; 1998, $600,000; 1999, $750,000; 2000, $625,000; 2001, $500,000; 2002, $500,000; 2003, $500,000; 2004, $500,000; 2005, $500,000; 2006, $500,000; 2007, $350,000; 2008, $350,000; 2009, $210,000; 2010 (projected), $0.

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