Steve Yelvington
The truth is that journalism has never had a business model of its own. Its always been a useful component of some other business model. Before the middle of the 19th century, journalism in America was primarily subsidized by political parties.
I Say .....
Happy Birthday, Journalism! Born as a social enterprise, or L3C. Journalism was a tasty morsel of Democracy hidden inside the wrapping of newspaper ads. No More Its growing up!
Bloody!!!
Zombie newsrooms. Displaced journalists everywhere Confounding variables aplenty
Theres Hope!
Main assumption: Newsrooms are the soul and conscience of a community and the nation, p.s. and they
are the only business specifically recognized by the US Constitution. The information they provide is vital to the proper function of a democracy.
Shared Value
Current economy = massive disruption! Companies have been trapped in an outdated approach to value creation. The solution is to create economic value in a way that also creates value for society. Businesses must reconnect company success with social progress.
A foundation provides the seed capital. This seed capital attracts socially
motivated investors.
L3C Newsrooms
We are looking at long-term ownership that puts journalism first, said Jennifer Towery, President of the Peoria Newspaper Guild and also Neighbors Editor for the Peoria Journal Star, who had sought to start an L3C.
L3C Newsrooms
L3C Newsrooms
What does the L3C Newsroom look like? Editors, reporters, curators who all know the news come first Management who understands the primary mission of reporting the news Revenue from ads, subscriptions, syndication, every possible source
L3C Newsrooms
The L3C Newsroom operating agreement view a sample Equity or first risk tranche foundations that make program-related investments Mezzanine tranches include employees, local businesses, merchants, banks and large local employers. Senior tranche includes foundation mission related investments
Economic Models
University of Minnesota School of Journalism event on Economic Models for News FTC Hearings on the Future of News. From Town Criers to Bloggers. How will Journalism Survive the Internet Age? See an operating agreement, read more, search on L3C at www.sallyduros.com
Learn more
The News Frontier Database at the Columbia Journalism Review The Death and Life of American Journalism, Robert W. McChesney and John Nichols. Newsonomics by Ken Doctor Nieman Lab on the Chicago News Coop proposed
The Big Idea: Creating Shared Value by Michael E. Porter and Mark R. Kramer in Januarys Harvard Business Review.
More Readings
Natural Capitalism Paul Hawken., Amory Lovins, L. Hunter Lovins Deep Economy, Bill McKibben Slow Money, Woody Tasch After Capitalism, David Schweikert: A theory of economic Democracy
Sally Duros
Digital Strategist, Fundraiser and Business writer reporting on future of news, start-ups, VCs and angels. www.sallyduros.com,sally@sduros.com Twitter: @SaDuros, Huffington Post Americans for Community Development, Media Working Group.