For some mysterious reason, we've been non-profit for years ... to the point where even Lenfest gave up!
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 ...
For some mysterious reason, we've been non-profit for years ... to the point where even Lenfest gave up!
They’ve been a nonprofit — now they’re admitting it.
Both will eventually go the way of the Evening Bulletin.
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.
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.
“....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!
Given the direction of ink and paper news outlets, can a box of Crackerjacks be far behind?
They’ve confused “non-profit” with “money-losing”.
I heard they came back, as a right-of-center paper nevertheless!
...as they figure out ways to get government grants.
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"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."
This is great became it will siphon more money away from liberals that otherwise might do real harm
“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.
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.
Can a “non-profit” be an open hack organization?
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.
Ping
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.
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