SEGUIN, Texas – A Seguin media company has ended buyout negotiations with the Seguin Independent School District.
The school district was considering a plan to lease KWED and the Seguin Daily News for $75,000 annually for five years, with an option to purchase.
District leaders said the proposal to oversee two of the most trusted news sources in town was a business decision to provide opportunities for journalism students.
Critics of the proposed deal said the buyout offer was an attempt by the district to silence the newspaper due to critical articles published about the district.
But the deal fell through, according to a statement released Wednesday from Guadualupe Media general manager and partner Darren Dunn.
"Guadalupe Media has decided to opt out of the negotiations with Seguin ISD. We appreciate the support the community has given us," the statement said.
Seguin ISD superintendent Stetson Roane said in a statement that "while I'm disappointed in a missed educational opportunity for our students, I am glad that Seguin ISD's proposal may have sparked financial support for Guadalupe Media's stakeholders. If Guadalupe Media is able to increase revenues to attain financial solvency, I am hopeful that this enables KWED and The Seguin Daily news to remain as local entities."