PRI Profile

This PRI was made to Calvert Foundation to support the Public Radio Fund of Public Radio Capital, which has since become Public Media Company. Founded in 2001, PMC was created to address two challenges in the media industry at that time: the concentration of commercial TV and radio channels in the hands of dramatically fewer corporate owners, and the unchallenged capacity of large, well-funded religious broadcasters to dominate the marketplace for noncommercial spectrum.

Highlights

The Public Radio Fund, established in 2007, has deployed over $9 million in loans to 11 different public media organizations. Loans have allowed organizations to acquire new stations, smooth out cash flows, and purchase new buildings.