American Journalism Project Launches Major Effort to Reinvigorate Local News with $42 Million in Founding Commitments

The American Journalism Project, a new initiative to reinvigorate mission-driven local news through the power of venture philanthropy, announced its official launch with $42 million in lead funding commitments, a Board of Directors, and its first three hires. Founded by Elizabeth Green and John Thornton (founders of Chalkbeat and The Texas Tribune, respectively), the American Journalism Project is the first venture philanthropy organization dedicated to strengthening an ecosystem of civic news organizations that believe local journalism a public good. The organization will support existing and emerging news organizations with grants and hands-on support to ensure their long-term sustainability through diverse revenue generation and modern technology operations. With these investments, the American Journalism Project will help transition these organizations from primarily grant-funded newsrooms into integrated nonprofit media organizations and catalyze a step-function increase in journalism philanthropy.