logo
Corp. for Public Broadcasting shuts down after federal funding cuts

Corp. for Public Broadcasting shuts down after federal funding cuts

Los Angeles Times13 hours ago
The Corp. for Public Broadcasting said Friday it was shutting down, about one week after President Trump signed legislation stripping its funding.
The group, which administers funds for PBS TV affiliates and NPR radio stations, said it would 'begin an orderly wind-down of its operations.' A majority of staff positions will be cut Sept. 30, when the group's fiscal year ends.
'A small transition team will remain through January 2026 to ensure a responsible and orderly closeout of operations,' the nonprofit said in a statement. 'This team will focus on compliance, final distributions, and resolution of long-term financial obligations, including ensuring continuity for music rights and royalties that remain essential to the public media system.'
Since returning to office, Trump has made a priority of yanking federal funding for public broadcasters as part of a wider campaign against media outlets that he dislikes. The president derided PBS and NPR as government-funded 'left-wing propaganda.' Congress fell into line.
It passed a measure in mid-July that clawed back $1.1 billion that previously had been allocated for public broadcasting for two years.
Separately, lawmakers introduced a Senate appropriations bill for 2026 that excludes funding for the Corp. for Public Broadcasting for the first time in more than 50 years. Conservatives have long wanted to strip funding from public media because of its perceived liberal bias.
The actions left the group without a steady source of operating money — and little hope that more would be on the way.
'Despite the extraordinary efforts of millions of Americans who called, wrote, and petitioned Congress to preserve federal funding for CPB, we now face the difficult reality of closing our operations,' Corp. for Public Broadcasting Chief Executive Patricia Harrison said in a statement.
The organization dates back nearly 60 years and has helped nurture such notable programs as 'Sesame Street,' 'PBS NewsHour,' 'NOVA,' numerous Ken Burns documentaries and 'Antiques Roadshow.' Through its partnerships with local stations and producers, the nonprofit made a mission of supporting educational and cultural programming, local journalism and emergency communications.
The move could cripple smaller public stations, including those in rural areas that struggle to mount high-dollar local membership campaigns. The Corp. for Public Broadcasting helps support more than 1,500 local public television and radio stations nationwide.
PBS SoCal, which operates member stations KOCE and KCET in Orange and Los Angeles counties, respectively, was set to lose more than $4 million in federal funding, Andy Russell, president and chief executive of the stations, previously told The Times.
NPR has two large affiliates serving Los Angeles: KCRW-FM (89.9) and LAist/KPCC-FM (89.3).
LAist, based in Pasadena, will lose about 4% of its annual budget — $1.7 million. Alejandra Santamaria, the station's chief executive, told The Times last month that funding helped pay for 13 journalist positions in its newsroom.
KCRW in Santa Monica had been expecting $1.3 million from the Corp. for Public Broadcasting.
The stations have asked listeners to donate in order to compensate for the shortfall.
'Public media has been one of the most trusted institutions in American life, providing educational opportunity, emergency alerts, civil discourse, and cultural connection to every corner of the country,' Harrison said in the statement. 'We are deeply grateful to our partners across the system for their resilience, leadership, and unwavering dedication to serving the American people.'
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Susquehanna Lowers Wolfspeed (WOLF) PT to $1.50 Amid Q2 Semiconductor Preview
Susquehanna Lowers Wolfspeed (WOLF) PT to $1.50 Amid Q2 Semiconductor Preview

Yahoo

time6 minutes ago

  • Yahoo

Susquehanna Lowers Wolfspeed (WOLF) PT to $1.50 Amid Q2 Semiconductor Preview

Wolfspeed Inc. (NYSE:WOLF) is one of the tech stocks to buy according to analysts. On July 22, Susquehanna lowered the price target for Wolfspeed from $3 to $1.50, while maintaining a Neutral rating on the shares. The adjustment came as part of the firm's Q2 preview for the semiconductor group, with the firm expecting in-line to modest upside reports for the current quarter, driven by tariff-related demand pull-ins and sustained AI strength. However, Susquehanna's analysts did note increased uncertainty for the latter half of 2025 within the broader semiconductor market. In FQ3 2025, Wolfspeed showed a sequential revenue growth of 50% at its Mohawk Valley facility, which contributed $78 million in revenue. The company has also established a fully automated 200-millimeter manufacturing footprint for silicon carbide solutions and received ~$192 million in cash tax refunds from the Section 48D advanced manufacturing tax credit, which boosted liquidity. Close-up of Silicon Die are being Extracted from Semiconductor Wafer and Attached to Substrate by Pick and Place Machine. Computer Chip Manufacturing at Fab. Semiconductor Packaging Process. Additionally, Wolfspeed is actively engaging with customers for sampling 200-millimeter materials and pursuing new contracts for 200-millimeter wafer supply. But at the same time, the company is undergoing a restructuring, which includes a 30% reduction in its senior leadership team and projected restructuring charges of $400 million to $450 million for FY2025. Free cash flow during the quarter was also negative, at $168 million. Wolfspeed Inc. (NYSE:WOLF) is a semiconductor company that focuses on silicon carbide and gallium nitride/GaN technologies in Europe, Hong Kong, China, the rest of Asia-Pacific, the US, and internationally. While we acknowledge the potential of WOLF as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the . READ NEXT: and . Disclosure: None. This article is originally published at Insider Monkey.

MultiSensor AI Holdings Upgrades Asset Health Platform with MSAI Connect 2.0, Adds Enhanced AI, Seamless EAM Integration
MultiSensor AI Holdings Upgrades Asset Health Platform with MSAI Connect 2.0, Adds Enhanced AI, Seamless EAM Integration

Yahoo

time6 minutes ago

  • Yahoo

MultiSensor AI Holdings Upgrades Asset Health Platform with MSAI Connect 2.0, Adds Enhanced AI, Seamless EAM Integration

MultiSensor AI Holdings Inc. (NASDAQ:MSAI) is one of the tech stocks to buy according to analysts. On July 9, MultiSensor AI Holdings unveiled MSAI Connect 2.0. This upgrade to their asset health monitoring platform further reduces unplanned downtime, streamlines operations, and provides users with more actionable insights. MSAI Connect 2.0 introduces several key enhancements. Its AI functionality is supported by camera disturbance detection, which alerts operators to unintended sensor movements that might affect critical asset monitoring. Additionally, improved person and motion detection logic has been incorporated to reduce false-positive alerts. Photo by Vishnu Mohanan on Unsplash The platform integrates seamlessly with customers' existing Enterprise Asset Management/EAM systems. This creates a link between identifying issues and initiating corrective actions. MultiSensor AI Holdings Inc. (NASDAQ:MSAI) builds and deploys intelligent multi-sensing platforms with edge and cloud software solutions that use AI in the US and internationally. While we acknowledge the potential of MSAI as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the . READ NEXT: and . Disclosure: None. This article is originally published at Insider Monkey. Errore nel recupero dei dati Effettua l'accesso per consultare il tuo portafoglio Errore nel recupero dei dati Errore nel recupero dei dati Errore nel recupero dei dati Errore nel recupero dei dati

Citi Remains Bullish on Sana Biotechnology (SANA)
Citi Remains Bullish on Sana Biotechnology (SANA)

Yahoo

time16 minutes ago

  • Yahoo

Citi Remains Bullish on Sana Biotechnology (SANA)

Sana Biotechnology, Inc. (NASDAQ:SANA) is one of the best biotech penny stocks to buy right now. Citi analyst Samantha Semenkow maintained a bullish stance on Sana Biotechnology, Inc. (NASDAQ:SANA), giving it a Buy rating on July 2 with a $15 price target. A scientist working with a microscope in a laboratory, focusing on a cell of a medical experiment. The analyst based the rating on Sana Biotechnology, Inc.'s (NASDAQ:SANA) potential in addressing notable market opportunities. Semenkow stated that the company's Type 1 Diabetes (T1D) program has exhibited considerable proof-of-concept results, with updated six-month data showing durable c-peptide production and successful graft survival without the need for immunosuppression. According to the analyst, this data consistency bolsters confidence in Sana Biotechnology, Inc.'s (NASDAQ:SANA) approach and paints a positive picture for its T1D asset, SC451, anticipated to make progress towards an IND as early as 2026. The same day, Morgan Stanley analyst Maxwell Skor also assumed coverage of Sana Biotechnology, Inc. (NASDAQ:SANA) with an Overweight rating and $12 price target. The analyst expects an investigational new drug filing as early as next year for its proprietary HIP-modified, islet stem-cell derived T1D therapy, SC451. Sana Biotechnology (NASDAQ:SANA) is a biotechnology company that specializes in using engineered cells as medicines. It develops cell engineering programs that transform treatment across several therapeutic areas with treatment gaps, including diabetes, oncology, the central nervous system, and B-cell-mediated autoimmune disorders. While we acknowledge the potential of SANA as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store