The Connecticut Public Broadcasting Network (CPBN) today announced that it will receive $32.6 million from its initiatives related to the Federal Communications Commission’s (FCC) auction of its underutilized television broadcast spectrum, CPBN President and CEO Jerry Franklin said.
“As a result of extensive due diligence and a highly strategic approach taken by our Board of Trustees beginning in 2012, we have been able to monetize our underutilized television assets to secure the future of public media in Connecticut while maintaining full statewide television coverage. The auction proceeds will go into our endowment, with the income being used to fund operations and our longer term public media mission at the direction of the Board of Trustees,” Mr. Franklin added. CPBN’s endowment will now total almost $44 million on a goal of $50 million, set by the Board of Trustees eight years ago.
CPBN’s Board of Trustees made the decision to participate in the auction and Mr. Franklin said, “Our top priority in entering the auction was to secure the future of our mission in a manner that resulted in no loss of service to our current coverage area. We have achieved that result.”
Four of CPBN’s television licenses were eligible to participate in the auction. CPBN elected to participate by entering three licenses, choosing to exclude its more powerful Hartford license which provides an over-the-air signal throughout all of Connecticut. CPBN retained all three of the licenses – but as part of the auction, revenue was generated from a channel-share agreement with another broadcaster.
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Connecticut Public Broadcasting, Inc.
WNPR is an affiliate of National Public Radio, Public Radio International, and American Public Media. As part of the Connecticut Public Broadcasting Network (CBPN), WNPR serves 276,000 listeners weekly in Connecticut, New York, and Rhode Island with news and information. WNPR’s award-winning local programming lineup includes Where We Live, The Colin McEnroe Show, and The Faith Middleton Food Schmooze®. Overall, the network brings a broad spectrum of public affairs, entertainment, sports, and educational programming to viewers, listeners, and readers. For more information, visit wnpr.org.
About Connecticut Public Broadcasting
The Connecticut Public Broadcasting Network (CPBN
) is home to CPTV
and the Learning Lab. CPTV is a locally and nationally recognized producer and presenter of quality public television programming, including original documentaries, public affairs and educational programming. WNPR is an affiliate of National Public Radio, Public Radio International and American Public Media. The Learning Lab serves high school seniors through a partnership with Hartford Public Schools and the Journalism and Media Academy Magnet School.
It is also home to the Institute for Advanced Media,
a program that provides the men and women of our armed forces and adult learners an opportunity to learn skills necessary for the 21st century digital media workplace. For more information, visit cpbn.org