PBS Slashes Budget by 21% After Federal Funding Cuts
PBS is cutting its current budget by more than a fifth to deal with Congress’s recent decision to eliminate roughly $500 million in federal funding from public TV and radio, according to a memo from the organization’s chief executive, Paula Kerger.
The decision, announced on Wednesday by Ms. Kerger in an email to PBS station managers, is one of the biggest consequences to date of the congressional vote, which eliminated federal funding and doomed the Corporation for Public Broadcasting.
Related Knowledge Center: State of the business model
The traditional journalism business model has long since collapsed, and news organizations have shrunk or disappeared entirely. While a number of promising experiments are under way, the public has not shown a willingness to buy what news organizations are selling.