The Television Future Fund is dead, long live the Television Future Fund. CPB will discontinue the R&D fund this fall, redirecting about $4 million to public TV stations’ Community Service Grants for next fiscal year. The corporation has not decided the future of its Public Radio Public Service Competitive Fund, which gets some of its funding in a similar way. The decision on the TV fund not only aids hard-pressed station but also defuses a political time bomb. Some stations contend CPB reallocated money illegally to set up the Future Fund nine years ago.