Dan and Ellen talk to Larry Ryckman. Ryckman is editor of The Colorado Sun, the subject of a chapter that Dan wrote for our book, "What Works in Community News." The Sun was founded by journalists who worked at The Denver Post, which had been cut and cut and cut under the ownership of Alden Global Capital, a hedge fund that the Post staff called "vulture capitalists."
The Sun was founded as a for-profit public benefit corporation. A PBC is a legal designation covering for-profit organizations that serve society in some way. Among other things, a PBC is under no fiduciary obligation to enrich its owners and may instead plow revenues back into the enterprise. And we've found that for-profit models are rare in the world of news startups. But that changed last year, when The Sun joined its nonprofit peers. Ryckman explains.
Dan gives a listen to a New York Times podcast with Robert Putnam, the Harvard University political scientist who wrote “Bowling Alone” some years back. In a fascinating 40 minutes, Putnam talks about his work in trying to build social capital. He never once mentions local news, but there are important intersections between his ideas and what this podcast is focused on.
Ellen reports on an important transition at Sahan Journal in Minnesota, one of the projects we wrote about in our book. The founding CEO and publisher, Mukhtar Ibrahim, is moving on and a successor has been named. Starting in September, Vanan Murugesan will be leading Sahan. He has experience in the nonprofit sector and also has experience in public media.
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