A group of philanthropy heavyweights including the MacArthur Foundation, the Knight Foundation, and others with enough collective spending power to put a dent in any global problem are considering whether to put a seriously large amount of money on the table to improve local news. The amount is rumored to be up to $500 million, to be spent over the course of five years. It could be announced as early as this summer.

Origen: Journalism funders consider big swing on local news. We can’t afford a miss. – Columbia Journalism Review

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