Seems kind of strange that after The Republican conservatives bid to change PBS, from the inside out failed, suddenly funding should be cut.

Kenneth Tomlinson, who took over in 2003, began his tenure by asking for Karl Rove's assistance in overturning a regulation that half the CPB board have practical experience in radio or television. Later he appointed an outside consultant to monitor the regular PBS program NOW with Bill Moyers. Told that the show had "liberal" leanings, Moyers eventually resigned after more than three decades as a PBS regular, saying Tomlinson had mounted a "vendetta" against him. Subsequently, PBS made room for conservative commentator Tucker Carlson (now of MSNBC, a former co-host of CNN's Crossfire), and Journal Editorial Report with Paul Gigot, an editor of the Wall Street Journal editorial page (this show has since moved to FOX News Channel). On November 3, 2005 PBS announced the resignation of Tomlinson and the investigations of improper financial dealings with consultants
http://en.wikipedia.org/wiki/PBS

Kenneth Y. Tomlinson replaced most of the staff at PBS with other Conservative Republicans.

http://www.nytimes.com/2005/11/15/bu...rssnyt&emc=rss

http://refuseandresist.org/dt/archiv...ourna.php#more

http://www.washingtonpost.com/wp-dyn...110302235.html

As for the profit:

http://www.answers.com/topic/public-...asting-service
PBS, the Public Broadcasting Service, was founded in 1969, taking over from the National Educational Television (NET) network. Actual broadcasting on PBS started in October, 1970. Since public television is non-commercial, most of its funding is provided by donations of viewers, corporate and non-profit organization sponsors, and grants given by the Corporation for Public Broadcasting, as well as state governments, colleges and universities.

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Profits are made by unaffiliated private Companies.
PBS has already been paid for these rights. Current licensors include Nakajima USA, Build-A-Bear Workshop (Build-An-Elmo and Build-A-Cookie Monster), Hasbro (Sesame Street Monopoly), Wooly Willy, and Children’s Apparel Network. For Sesamstaat(Germany), Rubotoys is a licensor since February 2005. In recent years adults have been encouraged to remember their childhood through retro-targeted products, like action figures from Palisades. Figures include (order of release) Super Grover, Ernie, Guy Smiley, Oscar the Grouch, and the Two-Headed Monster. Basicly PBS relies on sponsors, donations, grants, and Government funding to pay for broadcasting and overhead.
Seems a little funny that PBS, the last network not totally controlable by the current administration, suddenly is to have it's funding cut. I also find it strange, with the multi-millions we borrow each day, that there is no room in the budget for something like educational television. I guess the Government feels a need to tell us what education is ok and what is not.