Philadelphia Inquirer takes steps to become a non-profit

[ksen]

http://www.theatlantic.com/technolo...quirer-daily-news-nonprofit-lol-taxes/423960/

On Tuesday, three of Philadelphia’s most important journalistic resources—its legendary daily newspaper, the Inquirer; its accomplished tabloid, the Daily News; and its main news website, Philly.com—took the first step toward becoming nonprofits.

In a complicated transaction, their owner, H.F. “Gerry” Lenfest, donated them to the Philadelphia Foundation, the city’s main philanthropic organization. Specifically, he donated the Philadelphia Media Network—which owns the papers and the site—to a new subsidiary of the foundation, called the Institute for Journalism in New Media. He also established a $20 million endowment for the new institute.

This sounds like it could be a good thing for journalism if it works.

 

[dismal]

Those steps been happening for a while now.

In other news, fax machine makers and buggy whip manufacturers are becoming non-profits too.

 

[ksen]

good one!

 

[funinspace]

Those steps been happening for a while now.

In other news, fax machine makers and buggy whip manufacturers are becoming non-profits too.

Will that be under the new non-profit Kodak Film Consortium