Friday, October 1, 2021

WBEZ and the Chicago Sun-Times

Roman-kraft-_Zua2hyvTBk-unsplashWBEZ, Chicago's NPR station, is reporting that its board of directors approved a "non-binding letter of intent" to pursue the acquisition of the Chicago Sun-Times, one of two large legacy newspapers in Chicago.

The Sun-Times has, like many newspapers, been facing financial difficulties over the last couple decades. It filed for bankruptcy about a dozen years and has changed hands a few times since then.

As best I can tell from the article, the Sun-Times would continue as an independent organization, but would join WBEZ as a nonprofit, tax-exempt organization.

It would also join an increasingly large coterie of nonprofit newsrooms. It wouldn't even be the first nonprofit newsroom in Chicago--Block Club Chicago has been doing excellent local news reporting for the last couple years. Like many nonprofit newsrooms, including Voice of San Diego and ProPublica, Block Club Chicago is a creation of the internet and has never had a physical product.

But legacy newspapers have also gone the nonprofit route. In early 2020 (iirc), the Salt Lake Tribune became a tax-exempt nonprofit. And so far it seems to be an effective move for them. It will be interesting to watch how nonprofit status treats the Sun-Times (assuming this deal goes through) and the Tribune. To the extent it can help preserve local journalism, it will, I think, be a good thing.

Samuel D. Brunson

Photo by Roman Kraft on Unsplash

https://lawprofessors.typepad.com/nonprofit/2021/10/wbez-and-the-chicago-sun-times.html

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