"Massive Philanthropic Funding Injected to Tackle Local News Crisis"

A coalition of philanthropic organizations, led by the MacArthur Foundation, has pledged to invest at least $500 million over five years to address the crisis in local news coverage. The initiative, called Press Forward, aims to support and sustain new models for funding journalism in areas where local news has declined. With approximately a fifth of the nation living in "news deserts" lacking reliable coverage, the coalition seeks to combat the threats to democracy posed by the closure of newspapers and the rise of misinformation. The funding will be directed through a centralized fund or issued as independent grants, with the first grants expected to be awarded later this year.