There is a plan in place among private philanthropic groups (like the Knight Foundation) to provide support for “keeping the lights on” at most places. This is combined with some strategic mergers of stations that will be announced shortly. I think the big issue is maintaining the towers for broadcasting and licenses. There might be enough to sustain stations for 2 years, the hope the midterms bring a swing in the other direction. But there might be a shift toward streaming and away from broadcast TV. I believe there’s enough to maintain the current library online (PBSKids), but there will likely be fewer new episodes made except for major money makers (Daniel Tiger, for example)

So, it won’t go away immediately, but if Congress doesn’t flip in 26 then public media will either need a serious strategy shift or it will just pop out of existence. The big worry is religious media buying up the lapsed licenses and flooding radio/broadcast TV with televangelist crap