The Program Exchange

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. The Program Exchange typically distributed older programming that was no longer widely distributed in syndication, as well as programming designed to meet federal educational/information mandates. The Program Exchange continued to hold distribution rights to the Jay Ward Productions and Total Television archives throughout the exchange's existence; both of those companies' programs were produced at the DFS-owned Gamma Productions studios in Mexico until that studio shut down in 1968.

The Program Exchange handled distribution for the Dennis The Menace animated series from 1986 to 2016.