December 21st, 2006 12:00am

Former Viacom chief executive Tom Freston, fashion-accessories power couple Andy and Kate Spade and rocker Jimmy Buffett are just some of the boldface names on Thursday's press release from Plum, which announced a $20 million round of venture funding. Plum is a network of local television stations that targets small but high-powered markets. It has stations in tony enclaves such as Nantucket in Massachusetts, the Hamptons in New York, and Vail and Aspen in Colorado, and it plans to expand into Miami and Sun Valley, Idaho, according to the press release.

Plum's funding round was led by private equity firm Kraft Group and hedge fund Raptor Fund, the company said. The Pilot Group, which is led by former AOL president Robert Pittman, also invested, as did Barry Sternlicht, the chairman of Starwood Capital Group.

Plum's programming includes local information and news, mixed with original shows featuring luminaries doing a wide range of things. Patricia Duff, the socialite and ex-wife of financier Ronald O. Perelman, has been the host of a political talk show on the network; Plum also recruited Bob Balaban, the actor and producer, for a reality show about building a new house.

Tom Scott, Plum’s founder and chief executive, previously helped found beverage company Nantucket Nectars, which he and his partner – better known as the Juice Guys – sold to Ocean Spray for $70 million in 1997. In an article in 2004 about Plum TV, Mr. Scott told The New York Times, "We want to be the Sundance of television."