Are non-profits the future for journalism? October 6, 2009
Posted by Jonathan Hewett in : delicious links , trackbackMichael Massing highlights the US trend of non-profits for journalism (in NY Review of Books):
"For all the impressive projects out there, their [commercial sector's] economic base seems tenuous, and my encounters with them left me feeling sobered by the obstacles they face.
My inquiries into the nonprofit world, by contrast, left me heartened. Here I found all kinds of excited activity. Much of it, I discovered, had been set in motion by an Op-Ed piece that appeared in the Times in late January. David Swensen, the chief investment officer for Yale's endowment management team, and Michael Schmidt, a financial analyst there, argued that in light of the struggles of newspapers, they should consider turning themselves into nonprofit endowed institutions, like universities.
[…]
The opening won't last forever. Lurking in the wings is a potential new class of media giants. Google, Yahoo, MSNBC, and AOL, all have vast resources that could finance a new oligopolistic push on the Web."
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