Newspapers Lose Out As MSNBC Snaps Up EveryBlock
Over a decade ago now, the newspaper industry had its “Craigslist moment,” when the profitable classified ad piece of its business model started to slip away, predictably and inexorably leading to the crisis we see today. This week, the beleaguered newspaper industry had what will eventually be known as its “EveryBlock moment,” when the best implementation of the hyper-local news model was snatched up by MSNBC. The tiny Chicago-based company had been funded during its initial phase by the Knight Foundation, which hailed the sale with the following statement by Gary Kebbel, director of the foundation’s journalism program: “Adoption by the marketplace is a welcome sign of the impact of Knight Foundation’s media innovation strategy.” As the Knight funding ran…
0 Comments