— Jeff Ward, Lehigh Valley News Briefs
Lehigh Valley Public Media had about 80 people on the payroll two years ago.
As of today, the count is down to 46, according to the organization’s website. That’s down a few from the last count.
The steady decline is the result of overspending and an unclear mission.
Lehigh Valley Public Media operates an online news site, broadcasts reruns on Channel 39, and operates WLVR 91.3 FM, although the station is owned by Lehigh University.
Ratings at Channel 39 are down, by the organization’s own admission, and interest in college radio is down, according to LVPM. Those may be national issues.
LVPM’s spendthrift ways are a local problem. The organization received $82 million from the sale of broadcast rights back in 2017. The airwaves are public; that is public money. At last count, a little over $74.5 million was left, and when I asked the Board of Directors of LVPM about its endowment policy earlier this year, I didn’t get a solid answer.
That $74.5 million stash is almost twice as big as Cedar Crest College’s endowment.
An endowment policy sets how money is invested and how it is used. To its credit, the board put restrictions on who could tape that big pile of money after fiscal 2023, when LVPM somehow spent $15.15 million and took in $6.49 million, for a loss of about $8.66 million, or $1,000 per hour.
Consider that: $1,000 per hour, at a small public media outlet based in South Bethlehem.
The four people who were in charge that year are all out, as are quite a few people who were not part of the decision-making that led to a huge deficit.
The board’s next meeting will be March 31, held via Zoom and open to the public.
Last year, LVPM talked about hiring a “transformation officer” on a temporary basis. That idea apparently has been dropped. It’s seeking a permanent chief executive. The last one left almost a year ago.
Lehigh Valley News Briefs 