Particle.news
Download on the App Store
8 ARTICLES
·
yesterday

Foundations Launch $37 Million Bridge Fund to Stabilize Local Public Media

Backers seek $50 million this year to triage stations facing the loss of CPB dollars, with eligibility to be set by late September.

Image
Image
Image
A hand holding a pile of coins with a small green plant sprouting from them, symbolizing growth and investment.

Overview

  • A coalition including Knight, MacArthur, Ford, Schmidt Family, Pivotal Ventures and Robert Wood Johnson has committed about $36.5–$37 million to support local public media.
  • Roughly $26.5 million is designated for the Public Media Bridge Fund, which will be managed by Public Media Company and was seeded with Schmidt Family Foundation support.
  • MacArthur is also providing a separate $10 million in direct support to stations, programs and organizations outside the bridge fund.
  • The initiative is focused on vulnerable local radio and TV stations rather than national organizations such as NPR and PBS.
  • The bridge fund plans to offer grants and low‑interest loans, aims to disburse urgent aid before year‑end, and expects to finalize eligibility and criteria in late September.