PBS buys stake in National Public Media

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PBS has purchased a 10 percent equity share in National Public Media, the national on-air and online corporate sponsorship rep whose clients include NPR, Pbs.org and public radio and TV stations across the country. Formerly known as National Public Broadcasting, NPM was established in 2007 when WGBH and NPR bought NPB. NPR owns 80 percent of the company,  and WGBH owns the rest. As part of the new agreement, PBS President Paula Kerger will be seated on the board along with Vivian Schiller, president of NPR, and Jonathan Abbott, president of WGBH.