How Much Would It Take to Endow Nonprofit Journalism?

In their analysis of what ails the journalism business (CJR.org, 10/19/09), Leonard Downie, Jr., and Michael Schudson seem to pooh-pooh the idea that newspapers could be turned into non-profits funded by endowments, “as though they were museums.” “It would take an endowment of billions of dollars to produce enough investment income to run a single sizeable newspaper,” Downie and Schudson write, “much less large numbers of papers in communities across the country.” But would it really? At another point in the article they note that the Baltimore Sun is down to 150 reporters–but it seems like you’d still have to […]