MacArthur Foundation spearheading $500M effort to save local news industry

receives grant funding from several sources for some journalism coverage, as well.)

The Chicago-based MacArthur Foundation is leading a group of donors pledging a combined $500 million to invest in local journalism. The $500 million in pledges do pale in comparison to the $1 billion investment goal Ibarguen publicly identified last month. Some of the new funding efforts are designed specifically for that goal. They will support efforts, for example, to provide legal services, publishing tools and ways to enhance revenue that can be shared by several different outlets so there's less duplication in spending for startups.

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