http://blogs.law.harvard.edu/philg/2011/03/17/how-could-npr-stations-shut-down/ http://blogs.law.harvard.edu/philg/2011/03/17/how-could-npr-... "NPR stations h

http://blogs.law.harvard.edu/philg/2011/03/17/how-could-npr-stations-shut-down/ http://blogs.law.harvard.edu/philg/2011/03/17/how-could-npr-... "NPR stations have been given an enormously valuable asset, i.e., spectrum, for free. They can and do make money from this asset by selling corners of the spectrum to digital data services. They can make money by selling commercials, as nearly all NPR stations seem to. Even with no tax dollars or donations, shouldn’t an NPR station be financially unsinkable? They might not be able to pay executives $400,000 per year, but it should be more profitable to keep the station going than to shut it down, since they get their #1 asset (the spectrum) for free. What am I missing?"