Public media is made up of hundreds of storefronts in communities large and small, each of which has a unique window into America, its people and their stories. These storefronts — local public TV and radio stations — have built public media’s greatest asset: our unique relationships with listeners and viewers, local businesses and governments, and anchor institutions in the arts, philanthropy, education and social welfare. Yet at Public Radio Capital we increasingly hear from public media executives facing competitive and financial challenges that threaten their stations’ economic foundations and thus their effectiveness. Let’s face it: The public media business model isn’t changing. It has already changed in dramatic ways.