More than 350 college radio stations participated in a campaign Tuesday to challenge a growing trend of colleges and universities selling or transferring their FM educational licenses to non-student organizations. In May, Rice University sold its student station, tower, and license for $9.5 million, and a deal is pending in Nashville for Vanderbilt University's student station (reported at $3.35 million).
In most cases, stations are being bought by local NPR affiliates or religious broadcasters, as licenses are restricted to noncommercial uses. Student programming is typically moved online, or to secondary HD channels.
There have been previous rounds of student station sell-offs, primarily in sectors where colleges of universities held commercial radio or television licenses, whose higher values prompted sell-offs as a fund-raising mechanism.
Source - College radio stations fear budget cuts could silence them, USA Today