Jeff Ward's LVNewsBriefs reports that Lehigh Valley Public Media (PBS39) has a $8.66 million deficit in 2023. "LVPM spent $15.15 million in fiscal 2023 while taking in only $6.49 million. That works out to revenue less expenses of negative $8.66 million. In short, this Bethlehem-based outfit spent almost $1,000 more per hour — PER HOUR — than it took in. Impressive, and yet awful."
How does it plan to turn things around? By hiring a "transformation officer," lol.
In the entry below, I tell you about Jeff Ward's entry into the blogosphere with LVNewsBriefs. He has a fascinating series (two parts so far) about what certainly appears to be a mess at PBS39. Though it sits on an $80 million endowment, which invested at 6% would yield $5 million a year. Despite this, it is suffering revenue shortfalls and has reduced staff from 80 to 60. It is, of course, seeking handouts from the federal and state government. It even has its hand in Easton's pocket for $10,000. As Jeff observes, "Easton needs it more than a TV station/news outlet/public radio operation does.
