Baltimore Rallies to Save Newspaper with a Bid to Turn It into a Nonprofit
An unusual collaboration among news guilds, two local foundations, and other investors would transform the famed Baltimore Sun newspaper into a nonprofit, under the theory that the new structure would better serve the public and the profession of journalism. The paper, which was bought by the hedge fund-controlled Tribune Publishing ten years ago, has gone through waves of layoffs and furloughs and a strike action by reporters and photographers.
This scene, of course, is somewhat familiar, as corporate investors take their cut first despite the damage done to the product and its surrounding community.
Source: The Nonprofit Quarterly