As I have been scratching my head over this nonprofit news provider trend trying to figure out how a nonprofit can be a so-much-better option than a commercial news provider, another provider has thrown its hat into the fray.
The media provider, The Texas Tribune, thinks its model can work because of its stay-on-mission niche approach "good-for-you, brussels sprouts journalism — education financing, lobbying, bureaucratic priorities, civics and state government". And a business model that includes a pretty good up-front investment, that I hope will serve as an endowment rather than the source of cash-flow.
According to the New York Times, "The Tribune has raised $3.7 million, including $1 million from John Thornton, an Austin venture capitalist, $1.6 million from other individuals, $500,000 from the Houston Endowment and $250,000 from the John S. and James L. Knight Foundation". This plus "the use a mix of donations, sponsorships, premium content and revenue from conferences" will provide the Tribune with what its Board (I assume) thinks will be a sustainable business model.
While this sounds plausible, allow me to remain dubious -- particularly in these times. But, for the moment, who's to argue over a $3.7 million endowment (again, hoping that's what the money will be used for). I am also not clear I understand the governing model -- it kinda feels like the staff are governing, but maybe because I just don't know better.