Wednesday, January 19, 2022

More Nonprofit News Organizations Forming

In Houston, some nonprofits including Houston Endowment and Kinder Foundation are teaming up to invest about $20 million in getting a new nonprofit newsroom to cover the area. 

From the story: "The Houston Endowment and Kinder are each pitching in $7.5 million, according to Stern. Meanwhile, Arnold Ventures, the philanthropic investment fund backed by billionaires Laura and John Arnold, and the journalism funder Knight Foundation are giving $4 million and $250,000, respectively, she said.

"The funders say the newsroom will be financially sustained through donations, memberships and sponsorship revenue. Stern estimates about 40 staffers might be on board when the newsroom launches, but she notes the size will be dependent on how many people the management team eventually decide to hire."

Chicago nonproft Chicago Public Media which runs the local NPR affiliate WBEZ in Chicago is acquiring the Chicago Sun Times and will be holding it in a subsidiary nonprofit corporation. 

From the story: "According to the two organizations, the Sun-Times would join WBEZ as a not-for-profit subsidiary of Chicago Public Media.

The Chicago Sun-Times would get its own non-profit board, with Moog getting a seat, as well as current CPM board directors Adrienne King of Bain & Company and Lerry Knox of Sovereign Infrastructure Group. The board would also include Kristen Mack of the John D. and Catherine T. MacArthur Foundation and Aretae Ortiz Wyler, who is the chief operating officer of The Atlantic, as independent board members."

Philip Hackney

Current Affairs, In the News | Permalink


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