Get ready for the non-profit news revolution

Could today be the day the MSM gives up on capitalism? Over at Poynter’s NewsPay blog, Bill Mitchell reports that America’s most venerated for-profit news source is thinking about taking a page from public broadcasting’s book:

The New York Times has begun considering foundation funding to help cover some of its news-gathering costs.

Craig Whitney, an assistant managing editor at The Times who serves as the paper’s standards editor, said in a telephone interview Friday, “We’ve begun to ask ourselves whether it would be possible to get the kind of support that NPR does from foundations for its journalism.”

He said Times editors “haven’t reached any conclusions and we haven’t gone to any foundations,” but he said the idea of seeking broad foundation support for areas of coverage “seems conceivable.”

Personally, I think this is a great idea. Any public broadcasting fan will tell you that foundation-funded reporting can be just as hard-hitting as anything funded by, say, a mysterious billionaire. I’m glad to see a major outlet stop whining about declining profits/”those darn kids today” and start thinking about how to get back to work.

Sounds like it’s time for Maureen Dowd to practice her tote bag pitch.

Mitchell’s full post here:

Poynter Online – NewsPay.