According to Wikipedia, they went defunct in 2016. Here’s a brief excerpt about them:
"The Program Exchange was a "barter syndicator," distributing programming on behalf of the shows' producers, many of them having their own cash distribution services. Instead of paying a cash fee, television stations who ran those programs agreed to a barter exchange (hence the syndicator name), wherein the station agreed to air a certain number of commercials for various General Mills products per program. This arrangement allowed for the programs to air on stations that may not have large budgets to acquire them."
I remember years ago seeing their logo after "The Addams Family" and "Dennis the Menace".
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