Vermont PBS has sold off one of its broadcast licenses. Officials say it was sold for $56 million dollars.
On Friday at a press conference, it was announced that the WVTA license was accepted as a bid in the federal communications commission’s spectrum auction.
Vermont PBS says Vermonters will not see any reduction in over the air coverage.
According to Vermont PBS, says part of the auction proceeds will go towards strengthening the station’s education mission.
“We believe in Vermont values and we love our state, so we’re hoping to be able to produce more Vermont content and to bring more Vermont issues forward for common understanding and communication,” said Holly Groschner, Vermont PBS President.
Officials say the FCC auction proceeds will be distributed to stations in late 2017.
Groschner says Vermont PBS is working out a plan on how to distribute and invest the funds over time.