Greenspring Company
Encyclopedia
The Greenspring Company is the for-profit subsidiary of the non-profit American Public Media Group
, and the parent company of the for-profit organization Greenspring Media Group, publishers of Minnesota Monthly and other publications. Profits gathered from Greenspring are funneled through American Public Media Group in order to help fund Minnesota Public Radio
, although Greenspring is apparently tax
ed before this money flow occurs. The chairman of Greenspring is Conley Brooks, Jr., and the company's president
is Bill Kling
. Kling owns a significant portion of Greenspring and has made a large amount of money through the organization. He is also considered the head of the entire American Public Media Group family.
Greenspring previously owned The Rivertown Trading Company, which was sold to Target Corporation
in 1998 for US$
120 million. This move also controversially gave Kling a $2.6 million payout. In 2004, the company sold the Minnesota News Network (MNN) to Saga Communications
, apparently along with station WMNN. However the company kept KLBB
and KLBP radio, which remained affiliated with MNN. Radio station WMNN was sold to Starboard Broadcasting organization, which programs the Catholic radio network Relevant Radio
. In 2005, KLBB and KLBP were sold to Davidson Media Group
for US$
5.2 million.
American Public Media Group
American Public Media Group , formerly Minnesota Communications Group, is the non-profit organization that is the parent of non-profits Minnesota Public Radio, Southern California Public Radio , and Classical South Florida , along with the for-profit Greenspring Company, as well as MPR's Fitzgerald...
, and the parent company of the for-profit organization Greenspring Media Group, publishers of Minnesota Monthly and other publications. Profits gathered from Greenspring are funneled through American Public Media Group in order to help fund Minnesota Public Radio
Minnesota Public Radio
Minnesota Public Radio , is the flagship National Public Radio member network for the state of Minnesota. With its three services, News & Information, Classical Music and The Current, MPR operates a 42-station regional radio network in the upper Midwest serving over 8 million people...
, although Greenspring is apparently tax
Tax
To tax is to impose a financial charge or other levy upon a taxpayer by a state or the functional equivalent of a state such that failure to pay is punishable by law. Taxes are also imposed by many subnational entities...
ed before this money flow occurs. The chairman of Greenspring is Conley Brooks, Jr., and the company's president
President
A president is a leader of an organization, company, trade union, university, or country.Etymologically, a president is one who presides, who sits in leadership...
is Bill Kling
Bill Kling
William Hugh Kling is an American businessman who created Minnesota Public Radio . Kling is a millionaire, partly due to participating in an incentive plan related to the companies of the Greenspring Company, an MPR-affiliated for-profit corporation.-Education:Kling holds a BA in Economics from...
. Kling owns a significant portion of Greenspring and has made a large amount of money through the organization. He is also considered the head of the entire American Public Media Group family.
Greenspring previously owned The Rivertown Trading Company, which was sold to Target Corporation
Target Corporation
Target Corporation, doing business as Target, is an American retailing company headquartered in Minneapolis, Minnesota. It is the second-largest discount retailer in the United States, behind Walmart. The company is ranked at number 33 on the Fortune 500 and is a component of the Standard & Poor's...
in 1998 for US$
United States dollar
The United States dollar , also referred to as the American dollar, is the official currency of the United States of America. It is divided into 100 smaller units called cents or pennies....
120 million. This move also controversially gave Kling a $2.6 million payout. In 2004, the company sold the Minnesota News Network (MNN) to Saga Communications
Saga Communications
Saga Communications is a broadcasting company that owns and operates stations in 26 markets in the United States. The company, which is based in Grosse Pointe Farms, Michigan, primarily operates radio stations , but it also operates 9 television stations Saga Communications is a broadcasting...
, apparently along with station WMNN. However the company kept KLBB
KMNV
KMNV is a radio station in the Twin Cities area of Minnesota that airs a Spanish-language music and entertainment format.-History:The station began as WMIN in the summer of 1936, when Saint Paul furniture retailer Edward Hoffman began broadcasting at 1370 kHz...
and KLBP radio, which remained affiliated with MNN. Radio station WMNN was sold to Starboard Broadcasting organization, which programs the Catholic radio network Relevant Radio
Relevant Radio
Relevant Radio is a trademark of Starboard Media Foundation, and is the largest Catholic talk radio network in the United States, with 20 stations and 18 affiliates in 15 states...
. In 2005, KLBB and KLBP were sold to Davidson Media Group
Davidson Media Group
The Davidson Media Group is a New York based broadcaster specializing in multi-cultural, community focused formats. In four years the company has grown into a network of 40 stations in a 16 state region...
for US$
United States dollar
The United States dollar , also referred to as the American dollar, is the official currency of the United States of America. It is divided into 100 smaller units called cents or pennies....
5.2 million.