Friday, November 26, 2010
Da Biz: News Nonprofits Hurting
Remember a year ago when everyone was predicting the imminent death of print media? The gloomy forecasts were made not least by newspaper moguls themselves (often looking for government handouts). Turns out the dailies are doing just fine now that the economy's back, while the bell is already tolling for many of the online nonprofit news sites that were supposed to take over the dailies' market. Many are closing, while withering competition is coming from the likes of Yahoo, which is expanding localized news coverage. Meanwhile, many of the few remaining nonprofits survive only because they are propped up by single rich families, as this interesting overview explains.