Point Reyes Light Strikes New Path with Hybrid Business Model
Posted on | June 15, 2010 | No Comments
The Pulitzer-prize winning Point Reyes Light is now owned by the Point Reyes Light Publishing Co. L3C, a low-profit limited liability company, which is owned by Marin Media Institute, a nonprofit corporation that has applied for 501c3 status.
From The Investigative Reporting Workshop, American University School of Communication
They had a choice.
They could watch the Pulitzer-prize winning Point Reyes Light newspaper continue to divide their rural Marin County community or worse, sold to someone with little desire of continuing the paper’s long tradition of quality journalism. Or they could buy it and turn the money-losing newspaper into a media institution that fosters community outreach and educates journalists from the region.
So at a time when many U.S. cities are seeing mastheads disappear or newsrooms shrink in size, longtime West Marin County residents Mark Dowie, a venerable investigative journalist, and Corey Goodman, a scientist and educator, decided to buy the Light.
But the pair didn’t just buy the Light and reinvigorate a dispirited readership; they established the country’s first newspaper under a business structure that to date has been used to revitalize many struggling industries, but not journalism. Read more.
Tags: Change > future > Investigative Reporting > media > New Ideas > newspaper > Solutions > Ventures
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