Restructuring of Philadelphia news outlets creates hope for future of reporting

A Philadelphia philanthropist, owner of The Philadelpia Inquirer and two other city media outlets, has created a public benefit corporation to oversee operations with an endowment of $20 million. The re-structuring will allow the corporation to solicit grants from foundations and other donors. (PoliticoMedia, January 12, 2016, by Ken Doctor and Joe Pompeo)

The reporting world is looking at the move as a possible model for making the news business profitable. It remains for the enterprise to avoid further layoffs and revitalize its public service journalism and investigative reporting while forging an innovative multimedia presence. (The Christian Science Monitor, January 12, 2016, by Molly Jackson)

A former Inquirer reporter and journalism professor is optimistic about the new arrangement. She is encouraged by the potential for alternative funding and also by the inclusion of academic leaders on the new board of managers to help find a way to make news, online and print, attractive to readers. (The Philadelphia Inquirer, January 14, 2016, by Jackie Soteropoulos Incollingo)

The future of the enterprise depends on finding people and organizations to fund the hugely expensive print costs. Also the IRS must approve the new arrangement not a slam dunk since the law states that nonprofit status and a 501(c)(3) exemption is reserved for groups with a charitable, religious, educational, scientific, [or] literary purpose. (The Atlantic, January 14, 2016, by Robinson Meyer)

One Comment

  • A hard sale newspapers are difficult to sale nowadays because they lack substance that had an affect on readers little world news.Less coupons or coupons customers use newspapers are being so cheap that no one sees the value in them they once did.Not enough detailed local news not enough perks for subscribers.This is what big city newspapers need to thrive in the 2016 and beyond markets they need to become attractive again in relalate to the customers they serve lifestyles.An example of this would be that the northeast is heavy in real estate brokers and real estate so why not make sections huge in real estate to attract affluent individuals.In addition, lets change the career builder section buy adding more jobs local jobs off the internet any jobs you can find to help readers with employment.Increase finance section with more financial news on stock quotes,business ideas, business stories new business information in Philadelphia as well as the world.Long story short become attractive again in people will become attracted to you.

    Thanks!

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