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Endow the News?

In a sign of how bad things are for the news business, today’s New York Times carries an Op-Ed piece arguing that the news business essentially needs a bailout that will turn some of the press into non-profits. “Today, we are dangerously close to having a government without newspapers,” the article states. Running the New York Times, the article estimates, would require a $5 billion sum paying out 5% interest every year. Considering that this is written by the chief financial officer at Yale University with a financial analyst who works there, and considering that The New York Times published the article, it is evident that the urgent need for new thinking is being recognized. The New York Times as a non-profit?

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