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Media News: Philly's major media outlets donated to nonprofit
Flying Kite Staff
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Thursday, January 14, 2016
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The Inquirer
,
Daily News
and Philly.com have been donated to a new media institute.
"What would the city be without the Inquirer and the Daily News?" asked H.F. "Gerry" Lenfest, who until his gift was the sole owner of The Inquirer, Daily News and Philly.com website. No TV, radio or internet portal can match the news agencies in-depth coverage, he said.
On Tuesday, in a meeting with employees and then at a news conference at the Constitution Center, Lenfest formally announced the details of a complicated transaction designed to ensure that quality journalism endures in Philadelphia for generations.
The move places the region's dominant news-gatherers under the auspices of the nonprofit Philadelphia Foundation.
"In a democracy," foundation President and CEO Pedro Ramos said at the Constitution Center, "great cities need and depend on quality journalism."
Lenfest's gift will support and enhance "nothing less than an essential element of our democracy," Ramos said...
Subscribers and readers will see no immediate changes. Nor will PMN employees. The company's contracts with its labor unions remain in force. Bill Ross, executive editor of the Newspaper Guild, which represents journalists and other workers at PMN, said he was "somewhat optimistic" about the new structure.
Original source:
Philly.com
Read the complete story
here
.
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