What is Public Broadcasting Act Of 1967?

Legal Definition
The Public Broadcasting Act of 1967 (47 U.S.C. § 396) set up public broadcasting in the United States, establishing the Corporation for Public Broadcasting (CPB) and, eventually, the Public Broadcasting Service (PBS), and National Public Radio (NPR).

The act charged the CPB with encouraging and facilitating program diversity, and expanding and developing non-commercial broadcasting. The CPB would have the funds to help local stations create innovative programs, thereby increasing the service of broadcasting in the public interest throughout the country.
-- Wikipedia