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The National Trust for Local News is a nonprofit that ensures local news organizations remain in local hands. The Sun is a Denver-based statewide news outlet formed in 2018 by about a dozen journalists who left The Denver Post in protest of their hedge-fund owner.

The money behind the deal comes from a coalition of local and national investors including the Denver-based Gates Family Foundation, The Colorado Trust, and the American Journalism Project. Employees of the newspapers could also become investors, as could other Coloradans.

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The move once again highlights Colorado as a nerve center for local news experimentation and is another example of how innovative efforts to mitigate the challenges facing the local media industry are taking root here. The Colorado Media Project, a nonprofit formed in 2018 to research and help strengthen the local news ecosystem, and the year-old nonprofit Colorado News Collaborative, or COLab, helped facilitate the deal.

This unconventional newspaper transaction in Colorado also marks the first purchase of a newspaper company by the National Trust for Local News, says its CEO Elizabeth Hansen Shapiro. She framed the deal, which has been in the works since around Thanksgiving, as one of a kind.

Larry Ryckman, who helped found The Sun after The Denver Post cut its newsroom by a third, said The Sun will run the newspapers, which include The Canyon Courier in Evergreen, The Castle Rock News-Press, and Elbert County News.

Since 2004, one quarter of American newspapers have gone out of business; roughly 2,000 of them were weeklies or non-daily papers. And that was before business shutdowns from the coronavirus pandemic left many surviving dead-tree products gushing red ink.

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Local journalism is in crisis, off and online. Years of downsizing in the face of digital disruption have weakened regional and local news organizations. And the problem is growing worse, as advertising continues to shift in substantial measure to Facebook and Google. The Wall Street Journal reported that these giant tech platforms had secured over 86 percent of advertising growth in the industry by 2017. They now have 77 percent of all digital advertising revenue in local markets and 58 percent at the national level.

But even with the tension over who will finally own Gannett, it is worth noting that its digital subscriptions are only at 538,000 Americans, as reported by USA Today. This is a small amount for a newspaper with national reach, considering The Boston Globe, which covers only one major metro area, now has over 120,000 subscribers. The Washington Post has 1.5 million digital subscribers and The New York Times, 4.5 million.

On May 30th, news broke that GateHouse Media and Gannett are in merger talks, which would bring together the two largest newspaper groups in the country looking to trim costs and transform in this exceedingly difficult local news environment.

The Billionaire Local Newspaper Club: Local newspapers are getting massive infusions of capital from wealthy individuals and families, to help them get up to speed digitally so they can compete against Facebook and Google, which have the data and audience.

Emerging Nonprofit Models: In the past few years we have seen a snowball effect in the rise of nonprofit news, as well as the consolidation of resources in the nonprofit space. The Lenfest Institute and American Journalism Project are two large players, which each have $40 million to give to local news experiments. They grew their funds with money from private industry donors, tech companies, and foundations. This has helped foster a surge in nonprofit support, from the Annual NewsMatch donation campaign to the Institute for Non Profit News (INN), which has grown to be a network of over 200 nonprofit media organizations in North America that share best practices, pool resources, and receive training in new technologies and business development.

For-Profit Models: We are seeing very few commercial local newsstartups, but there are a few trying to make a dent as commercial enterprises.What is most notable is the turnaround of legacy newspapers by deep-pocketedand business-minded owners and the roll-up of many legacy papers by privateequity firms.

Accelerators: Borrowing from the startup accelerator model, theseorganizations train new journalism startups on how to grow and use digitaltools. These include The Information Accelerator, the Lenfest Institute,Facebook Accelerator, Google News Initiative, and the Membership Puzzle at NYU.

The rush to own a legacy titlewill be remembered as a turning point for the dying end of the fabled Americanpublishing industry that defined much of the twentieth century. A recenttimeline of wealthy owners of legacy local newspapers and fabled-nationalmagazines across America shows the five-year flurry between 2013 and 2018:

The John S. and James L. KnightFoundation, a leader in journalism funding, announced a $300 million commitmentto local news this year. While nonprofits are on the rise, even for-profitnewspapers are now seeking donations from the community and foundations likeSolutions Journalism looking to support local news for investigative reporting.Both the Burlington Free Press and The Seattle Times are applying for grants topursue deeper reporting for beats such as education, the environment, and localgovernment.

However, there have also been some nonprofit newsrooms that could not make it on their own. The Raleigh Public Record, Oakland Local, and the Chicago News Cooperative have closed or suspended operations, as examples. For the most part, leaders like Mother Jones, ProPublica, and The Texas Tribune are advocating for a press that sustains itself as a nonprofit, funded by members who care about good journalism.

In thepast decade we have seen a number of for-profit media transformations at alocal level. They range from upstarts to a number of legacy local newspaperslike The Boston Globe, the Minneapolis Star Tribune, the Los Angeles Times, theCharleston Post Courier, The New York Times, and The Washington Post, wherewealthy owners have been able to fund growth and transformation into digitalmodels. These legacy turnarounds are indeed the most promising examples offor-profit digital plays and each is finally reporting to be in the black.

A Medill study from Northwestern University found that many local news organizations are shifting their strategy to focus on reader-based revenue models, especially digital subscriptions, as a path to financial sustainability. As advertising cedes its position as the most relevant path to revenue, the viral clicks are less alluring. Today online news outlets are focused on establishing sustained relevance and value with subscribers and local outlets have an advantage in that space. Subscribers want to be connected with where they live.

Nevertheless, it is hard toimagine how local news outlets can scale up unless they consolidate with othertowns and cities or have a deep-pocketed local owner with the ability to fundlong-term growth. It is the legacy newspaper which has transformed to a digitalmodel that will likely profit most as it takes on more cities and states in thesurrounding area.

The most successful turnaround hasbeen the publicly-traded New York Times run by Arthur Ochs Sulzberger Jr. whohas served as chairman since 1997, with Mexican billionaire Carlos Slim asthe largest shareholder of New York Times Co (NYT.N) at 16.8 percent. Both TheBoston Globe and The LA Times are expanding into neighboring cities and statesgiven they can cover those regions without having to deliver a paper product.The Globe has already begun to cover Providence, R.I., and the LA Times ownerhas expressed in recent interviews that his goal is to cover parts of Mexico,southern California, and the American and Canadian Pacific Northwest. Eventhough Warren Buffet predicts smaller papers will likely die, we are seeingemerging local for-profit models across the country. While they have lessrevenue and reach than The Boston Globe or LA Times, who are leading the localnews turnaround, these other digital transformations and experiments are worthexploring as we try to solve the local news problem.

A new strategy has emerged in theabsence of a robust revenue model for local news. There are four mobilizers ofnote that have risen to the forefront over the past year and are well funded atthis time:

The hope is that philanthropic capital will bolster a movement of civic newsrooms. The Knight Foundation has long donated to news startups in cities and towns around the country that have set themselves up as 501(3)(c) nonprofits. The American Journalism Project will give this scale. The Knight Foundation is the lead funder behind the effort, committing almost half of the funds, announcing a $20 million, five-year commitment. The target is to fund 35 newsrooms over the five years.

Now in its second year, Report forAmerica is placing 61 journalists in 50 newsrooms spanning 30 states and PuertoRico. Over a thousand college students applied for the 61 spots and thoseselected will join newsrooms inside Pulitzer- and Goldsmith-winning newspapers,public radio stations, digital-first nonprofits, the AP, weeklies, and local TVstations, all in an effort to bolster local news. Reporters are paid between$28,000 and $45,000 for the one year stint. Report for America explains that itcosts the organization roughly $20,000 to place a reporter and another $20,000is pulled from contributions by the news outlets and local donors.

As noted on its website, the annual program is one of three ways Report for America is mobilizing young new journalists in the field. It has two other program ideas still pending support that it describes online as more driven by the philanthropists and foundations: A Regional or Local Corps to put 20 reporters into a particular state and hold a competition among the news organization in the state for subsidized reporters; and an Issue Based Corps to field local reporters to cover health care, education, veterans affairs, the environment, religion, and criminal justice. e24fc04721