Is The New York Times considering taking money from foundations to fund its news ops? So says Craig Whitney, AME at the Times, in an interview with Poynter’s Bill Mitchell. I highly doubt this is an officially sanctioned view within NYTCo (NYSE: NYT), as the move, as the company is currently structured, is fraught with various political and financial pitfalls. Even if it does, it might be a separate structure on the lines of ProPublica, where funding something that would then feed into NYT, and even then probably not exclusively.
Whitney’s quote: “We’ve begun to ask ourselves whether it would be possible to get the kind of support that NPR does from foundations for its journalism…[but they] haven’t reached any conclusions and we haven’t gone to any foundations.” Which is probably what it will be for a while. Unless the ownership changes hands. This comes the same week that Arthur Sulzberger and Janet Robinson told their staff in a memo that they would be able to manage the $1 billion debt the company is under.
By Rafat Ali