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Struggling Philadelphia Inquirer is donated to nonprofit in groundbreaking deal
Washington Post ^ | January 12, 2016 | Fred Barbash

Posted on 01/12/2016 9:50:31 AM PST by Zakeet

"If newspapers are having trouble turning a profit without deep annual cuts, how about becoming a nonprofit?" That was the question posed just a few months ago by an article in NiemanLab, a news industry publication.

Late Monday night, in a stunning development for a struggling business, that's pretty close to what the storied Philadelphia Inquirer and its sister publications, the Philadelphia Daily News and Philly.com, reported that they would become.

Philly.com reported that owner H.F. "Gerry" Lenfest donated the entire Philadelphia Media Network (PMN), which runs all three of the outlets, to the nonprofit Institute for Journalism in New Media, part of the Philadelphia Foundation. The institute will be headed by a board composed mostly of journalism school deans and academic and foundation executives and will "focus on supporting" PMN.

(Excerpt) Read more at washingtonpost.com ...


TOPICS: Business/Economy; Culture/Society; News/Current Events; US: Pennsylvania
KEYWORDS: msm; newspapers; philadelphia
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For some mysterious reason, we've been non-profit for years ... to the point where even Lenfest gave up!

1 posted on 01/12/2016 9:50:31 AM PST by Zakeet
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To: abb
Newser loser snort report ... ping.
2 posted on 01/12/2016 9:51:43 AM PST by Zakeet (Make Chelsea Clinton the new ambassador to Lybia. What difference does it make?)
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To: Zakeet

They’ve been a nonprofit — now they’re admitting it.


3 posted on 01/12/2016 9:51:47 AM PST by TBP (Obama lies, Granny dies.)
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To: Zakeet

Both will eventually go the way of the Evening Bulletin.


4 posted on 01/12/2016 9:52:12 AM PST by chajin ("There is no other name under heaven given among people by which we must be saved." Acts 4:12)
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To: Zakeet

to the nonprofit Institute for Journalism in New Media, part of the Philadelphia Foundation. The institute will be headed by a board composed mostly of journalism school deans and academic and foundation executives

so you KNOW they are going to lurch even further to the Left.


5 posted on 01/12/2016 9:53:58 AM PST by Buckeye McFrog
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To: TBP

Yes, but now they’re going to try to go 501 c 3 or whatever for a tax write-off while spewing leftist agitprop. Truth is they could get away with it with Obama, but Trump’s AG will slap them down so fast they will wet their panties.


6 posted on 01/12/2016 9:56:27 AM PST by gr8eman (Don't waste your energy trying to understand commies. Use it to defeat them!)
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To: Buckeye McFrog

“....The institute will be headed by a board composed mostly of journalism school deans and academic and foundation executives.”

Ohhh..... That will really turn a profit!


7 posted on 01/12/2016 9:58:55 AM PST by TMA62 (Al Sharpton - The North Korea of race relations)
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To: Zakeet

Given the direction of ink and paper news outlets, can a box of Crackerjacks be far behind?


8 posted on 01/12/2016 10:00:38 AM PST by The_Victor (If all I want is a warm feeling, I should just wet my pants.)
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To: Zakeet

They’ve confused “non-profit” with “money-losing”.


9 posted on 01/12/2016 10:01:07 AM PST by VanShuyten ("a shadow...draped nobly in the folds of a gorgeous eloquence.")
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To: chajin

I heard they came back, as a right-of-center paper nevertheless!


10 posted on 01/12/2016 10:01:32 AM PST by Shadow44
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To: Buckeye McFrog
so you KNOW they are going to lurch even further to the Left

...as they figure out ways to get government grants.

11 posted on 01/12/2016 10:02:33 AM PST by Leaning Right (Why am I holding this lantern? I am looking for the next Reagan.)
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To: All
(A BIG Thanks to FReeper Joe Pro Bono for the pic!!)



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12 posted on 01/12/2016 10:08:32 AM PST by musicman (Until I see the REAL Long Form Vault BC, he's just "PRES__ENT" Obama = Without "ID")
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To: Zakeet
For some mysterious reason, ...

"our decline started when we started supporting the uncivilized over the civilized, the dishonest over the honest, the illiterate takers [non-subscribers] over the literate producers [subscribers, aka advertiser desired customers], and we still don't know what bit us."

13 posted on 01/12/2016 10:09:38 AM PST by Calvin Locke
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To: Zakeet

This is great became it will siphon more money away from liberals that otherwise might do real harm


14 posted on 01/12/2016 10:19:20 AM PST by bigbob ("Victorious warriors win first ande then go to war" Sun Tzu.)
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To: Zakeet

“The institute will be headed by a board composed mostly of journalism school deans and academic and foundation executives”

Meaning as these media outlets lurch even further to the left, it will simultaneously seek government “grants” to stay in business, and if that is successful, we’ll see a whole series of failing leftist media enterprises go this route, and thus we’ll have a large set of government-supported, leftist propaganda organs.


15 posted on 01/12/2016 10:31:38 AM PST by catnipman (Cat Nipman: Vote Republican in 2012 and only be called racist one more time!)
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To: Zakeet

Newspapers forgot what their business was (and it is not providing “NEWS or content”.

Their business was advertising. They sold “eyeballs” to business. The content brought the eyeballs to their page and perhaps to the ads.

Instead of being honest, neutral observers, they choose sides in the the cultural war, automatically making their product toxic to a good portion of their readers.

As they moved further left, and began demonizing those they disliked, they lost even more readers.

Which is all well and good when they had a monopoly, but not when there are many places to get the information the reader wants.

Nothing or no one killed news papers, they committed suicide.


16 posted on 01/12/2016 10:36:30 AM PST by CIB-173RDABN (I think it would be ironic if Hillary was arrested the day after she secures the nomination.)
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To: Zakeet

Can a “non-profit” be an open hack organization?


17 posted on 01/12/2016 11:15:29 AM PST by 2banana (My common ground with terrorists - they want to die for islam and we want to kill them)
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To: Zakeet

This move is nothing more than a way to perpetuate leftist control of the propaganda organs of the DNC, insulating these “news” organizations from market forces by donating these media to leftist-run “philanthropic” tax-exempt organizations.

These donations also are tax-write-offs for the leftist media owners, also.

Therefore, the battle in coming years, must shift to revoking the tax exempt status of these megafoundations - like the Ford Foundation, Sierra Club, National Wildlife Foundation, etc.

I want these organizations to be bled by the IRS, like the rest of us are.


18 posted on 01/12/2016 11:15:37 AM PST by bkopto
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To: Kid Shelleen

Ping


19 posted on 01/12/2016 11:22:49 AM PST by Albion Wilde ("We need someone to lead us back to the standard of excellence we once epitomized." --Donald Trump)
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To: Buckeye McFrog

No one reads it now. It’s like NPR, the “take” from Leftists is not only 100% wrong, but it’s boring.

The yoga, hipster, DC suburban bureaucrat coffee crowd have a reality only they share.


20 posted on 01/12/2016 11:29:44 AM PST by wac3rd (Somewhere in Hell, Ted Kennedy snickers....)
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