Time magazine: Could newspapers be nonprofits?

In a file photo a Philadelphia Inquirer newspaper vending machine is seen in Philadelphia, Thursday, Nov. 30, 2006. (AP Photo/Matt Rourke)

Could newspapers be nonprofits?

Check this recent Time magazine article:

Enter Pro Publica, a non-profit news organization devoted solely to investigative journalism and funded to the tune of $10 million a year by California-based philanthropists Herb and Marion Sandler. With a staff of 18 journalists (10 additional reporters have yet to begin), the group hopes to release their stories for free through exclusive deals with major media outlets such as the New York Times, The Atlantic and 60 Minutes, among other potential partners. On June 22, its first major story — about Al Hurra, a U.S.-funded Middle Eastern TV network that has broadcast anti-American propaganda — aired in conjunction with the famed CBS news program. Such an approach has already been criticized by the Miami Herald‘s Edward Wasserman, who inquired July 7, “why was Pro Publica using its philanthropic funding to, essentially, subsidize the cost of a segment for 60 Minutes, the most financially successful news show in the history of U.S. Television?”

Hat tip to Sean Blanda.

Photo courtesy of Day in the Life.