The $2 million newsroom?

In the wake of the Feb. 22 Chicago journalism town hall, Chi Town Daily News editor Geoff Dougherty has laid out, in more detail, the possibility of covering local news with constrained budgets.

With a few caveats (it's solely payroll), Dougherty posits that you can put together a "robust local news organization."

Behold, the $2 million newsroom plan:

http://www.chitowndailynews.org/Ravings_from_the_editor/The_2_million_newsroom,22987

Read the full story

How to save newspapers?

Huffington Post has an interesting piece by Sally Duros on how a new kind of business structure - the L3C - may provide a lifeline to solvency to newspapers.

The L3C is a low-profit limited liability structure that encourages foundation investment while allowing a profit. The idea then is for daily papers to tap into foundation support for sustenance. Her piece is focused on papers in the Chicago area, and she references a bill creating the L3C hybrid introduced to the Illinois legislature Feb. 4 that apparently has good prospects.

For more, click here:
http://www.huffingtonpost.com/sally-duros/how-to-save-newspapers_b_164849.html.

Read the full story