by The Knight Foundation | Feb 21, 2022 | blackcommunityDynasty MediaFeaturedfinancefundingmedia | 0 comments

Lab part of $4 million new funding from Knight Foundation toward sustainability for publishers of color
Technology is a roadblock for many local media companies as they work to transform to a digital future. The Knight x LMA BloomLab, announced today, will tackle that obstacle head-on during a three-year immersive experience with 26 Black-owned local media outlets, with initial funding of $3.2 million from the John S. and James L. Knight Foundation. The publications will receive technology grants of $50,000, with additional funding expected to increase those amounts.
Excerpt from the Knight Foundation announcement:Feb. 21, 2022 – MIAMI – On the eve of the 15th annual Knight Media Forum, the John S. and James L. Knight Foundation announces an investment of more than $4 million over three years to help local publishers of color become more financially sustainable. The investment, which builds on Knight’s long-time support for diverse communities, aligns with Knight’s strategy to help journalists, publishers and newsrooms increase trust, reach diverse audiences and generate sustainable revenue models. 
[In addition to the Knight x LMA BloomLab] Knight’s investments include startup networks Capital B and URL Media, as well as the International Women’s Media Foundation’s Gwen Ifill Mentorship Program to increase newsroom leadership diversity.

Read the full announcement from Knight Foundation
Learn more about the Knight x LMA BloomLab

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