UPDATE: NewsHour’s Financial Woes

Continuing the New York Times trend today of covering well-worn topics, the paper discusses what FishbowlDC first told you a while back: That PBS’ “NewsHour” is having financial difficulties.

Writes Elizabeth Jensen:

    On May 1, salaries were frozen at the newscast, and company contributions to 401(k) retirement funds were suspended, cutbacks suggested by the staff. “NewsHour” still has two corporate sponsors — Chevron and the Pacific Life Insurance Company — and it receives support from PBS and the Corporation for Public Broadcasting. But only part of the Archer money has been replaced, leaving the budget several million dollars short.

    “NewsHour,” along with other PBS mainstays, may have a longer-term problem. Not only are corporations cutting back on all forms of advertising during the current economic slowdown, but public television’s model — soliciting long-term commitments — is also increasingly out of step with the changing needs of corporations, which no longer sponsor public television programs for purely philanthropic reasons.