NBC donates $1.5 million to Paley

Part of center's campaign to reinvent itself

NBC Universal is donating $1.5 million to the Paley Center for Media, targeting the fund toward the center’s campaign to reinvent itself for the digital age.

Peacock is the first of the major media congloms to chip in to what the center’s calling its MTR 2.0 initiative. Other foundations and media companies, including the Annenberg Foundation and the William Randolph Hearst Foundation, have already given more than $13.5 millon to the fund. With NBC’s gift, Paley Center execs are looking to raise about $5 million more in order to reach their 2007 fundraising goal of $20 million.

In conjunction with the donation, NBC U supremo Jeff Zucker has been named an honorary co-chair of MTR 2.0.

“The Paley Center is an incredibly important resource both for the public and for industry professionals, preserving our history and furthering our understanding of media and society,” Zucker said.

Paley Center execs are hoping to raise a total of $30 million for MTR 2.0, with a new phase of the campaign slated to start next year.

Among the initiatives expected to be funded by the campaign are a plan to digitize more of its TV and radio library and launch a more content-driven website.

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