Philadelphia Papers Overhaul Company Model
The last decade has been a rollercoaster for the entire newspaper industry but especially so for the media companies of Philadelphia. The latest chapter comes today.
H.F. Lenfest, the owner of the Philadelphia Inquirer, the Philadelphia Daily News and their website, announced he’s donated the organizations to a newly created nonprofit institute along with a $20 million endowment.
The move isn’t the first of its kind, as the Tampa Bay Times in Florida is owned by the nonprofit Poynter Institute and in the United Kingdom, the Guardian and the Observer are both operated by Scott Trust Limited.
NPR media correspondent David Folkenflik talks with Here & Now’s Robin Young about the short- and long-term ramifications of the move.