Board of WBEZ parent company approves acquisition of Sun-Times (Chicago)

[brooklynite]

Source: Chicago Sun-Times

The board that controls public radio station WBEZ on Tuesday approved the acquisition of the Chicago Sun-Times, taking a major step forward in a deal to create one of the largest nonprofit news organizations in the country.

The noncash transfer will not be final until contracts are approved, but both media organizations said they hope for a closing on or about Jan. 31. Under the deal, the Sun-Times would become an independent operation of WBEZ’s owner, Chicago Public Media, and convert from for-profit to nonprofit status.

Both groups said they share a mission of investing in local journalism. While the news operations would remain separate, the combination will allow content to be shared on different platforms and gain a larger audience, the principal executives said.

“This is an important step to grow and strengthen local journalism in Chicago,” said Matt Moog, CEO of Chicago Public Media. “A vibrant local news ecosystem is fundamental to a healthy democracy, informed citizens and engaged communities. Together WBEZ and the Chicago Sun-Times aim to tell the stories that matter, serve more Chicagoans with our unbiased, fact-based journalism and connect Chicagoans more deeply to each other and to their communities.”

Read more: https://chicago.suntimes.com/2022/1/18/22890454/chicago-sun-times-acquisition-chicago-public-media-wbez

[mucifer]

1. That's great! WBEZ is much more liberal than NPR .The local programing is heavily

into having community activists of diverse backgrounds on the air.

[summer_in_TX]

2. Awesome news.

Nonprofit media serves their communities so much better than most for-profits do because of return on investment requirements for shareholders which can block longterm strategic planning in favor of short-term profits.

[GB_RN]

3. We Need More Of This...

I hope the effort succeeds, and becomes a model for the news media in other markets. We don’t need any more mainstream infotainment bullshit posing as news, or propaganda TV networks, or hate radio BS. We just need straight up, educational news.

[Withywindle]

4. This is great news!

The Chicago Reader went non-profit several years ago and is hanging on fairly well in a field where most legacy alt-weeklies of its generation (1971) have gone under. The neighborhood-focused Block Club Chicago website is doing well too. Absolutely essential to have journalism that's focused on in-depth local coverage and isn't beholden to hedge funds.