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This paper presents a survivable optical broadcast-and-select network architecture with centralized multi-carrier light source for regional or metro-core network applications. A large number of optical carriers generated by the single multi-carrier light source are shared and utilized by all edge nodes of the regional network through dynamic wavelength/waveband broadcast and select. The design of this network architecture aims to reduce network cost and increase network survivability. Combined with optical couplers and 1 times 2 optical switches based protection architecture, the proposed network enables a fast failure-recovery scheme design. It recovers the network from different fiber cut failures in a fast and cost-effective way. The recovery time analysis and calculations under different situations are carried out to evaluate the performance of the proposed failure-recovery scheme. Results show that the recovery time is largely impacted by the switching time of 1 times 2 optical switches and it is small enough to meet the standard 50 ms requirements with 1 ms switches.