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In 2008, TCM won a Peabody Award for excellence in broadcasting. In April 2010, Turner Classic Movies held the first TCM Classic Film Festival, an event – now held annually – at the Grauman's Chinese Theater and the Grauman's Egyptian Theater in Hollywood. Hosted by Robert Osborne, the four-day long annual festival celebrates Hollywood and its movies, and features celebrity appearances, special events, and screenings of around 50 classic movies including several newly restored by the Film Foundation, an organization devoted to preserving Hollywood's classic film legacy.

For what reason is a Peabody Award granted?
excellence in broadcasting