The Philadelphia Media Network is operating under a new business model. The owner of the newspapers, the Philadelphia Inquirer, Philadelphia Daily News, and the web portal, philly.com, is a for profit company, owned by the non-profit Philadelphia Foundation. Joe speaks with Publisher, Terrance Egger about the organization’s shift to: “keep journalism alive.”
The inspiration to discuss the changes in the media, came after the 149 year old newspaper the Guelph Mercury, in Guelph, Ontario stopped its presses. Both the Mercury and the Philadelphia Inquirer are heritage papers in their respective communities. The Mercury has been in publication since 1867, the year Canada became a nation. The Inquirer, formed in 1829 was a main source of information during the American Civil War and reported on the assassination of Abraham Lincoln.
But that’s old news and to quote Bob Dylan, “the times they are a changin” for the newspaper, radio and television industry. They’ve been changing since new technology surfaced to give people their news and information fix free of charge. The once mighty traditional media platforms needed to re-boot the way they delivered the news and made their money. But what was the solution?
According to a report by Knight Foundation the non-profit formula has been growing in the United States. As Terrance Egger explains in this episode of Station to Station, the Philadelphia Media Network is operating under a slightly different business formula.