Texas Tribune wins $1.5 million in funding from Knight Foundation

The Texas Tribune will refine its model for sustainable local journalism and hire business analysts to explore new revenue models with $1.5 million in support from the John S. and James L. Knight Foundation.

Since its founding in 2009, the Tribune, a nonprofit online news organization, has built a sound financial base, going beyond philanthropic support to gain revenue from corporate sponsorships and its signature events. Building on this success, one-third of the Knight grant, or $500,000, will allow the Tribune to hire two fellows who will examine the creation of premium content for specific audiences and explore new revenue streams. The Tribune team will then write about their experiences and the successes of similar ventures on a new web site, sharing lessons and best business practices with nonprofit news organizations and other media observers. The balance of the grant, $1 million, will go to shoring up the Tribune’s working capital to ensure its long-term sustainability.