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Photo: Andrew Harnick/AP file photo.
Mellon Foundation president Elizabeth Alexander is one of the people behind a new fund for the literary arts.

Among the many worthy causes clamoring for our attention at this time of year and in this political climate are those that support the First Amendment, including freedom of the press.

Where I live, we have a nonprofit local newspaper that is sent free to every post box. it was launched with funds from donors and grants and now has the enthusiastic support of all sorts of local advertisers.

For national and international news, I subscribe to the Guardian and the Christian Science Monitor, which are independent of the kind of corporate pressure that contaminates many large television networks and newspapers. Who owns news purveyors really matters. And I believe that ordinary people can help a lot.

Another First Amendment realm that philanthropists have realized need support involves the literary arts — the freedom to write poetry, novels, and other kinds of high-quality books. That’s why a new fund has been started.

HILLEL ITALIE writes at the Associated Press, “Citing a chronic shortage of financial backing for independent publishers and nonprofits dedicated to writing and reading, a coalition of seven charitable foundations has established a Literary Arts Fund that will distribute a minimum of $50 million over the next five years.

“The idea for the fund was initiated by the Andrew W. Mellon Foundation, the country’s largest philanthropic supporter of the arts. Mellon President Elizabeth Alexander cited literature as a vital source of expression.

“ ‘Novelists, poets, and all manner of creative writers have shaped and driven our collective discourse and capacity for invention since the nation’s founding,’ Alexander, an acclaimed poet who joined Mellon in 2018, said in a statement. ‘American philanthropy can and must play a bigger role in strengthening the financial infrastructure of the literary organizations and nonprofits that serve these literary artists.’

“The other participants are the Ford Foundation, Hawthornden Foundation, Lannan Foundation, John D. and Catherine T. MacArthur Foundation, the Poetry Foundation and an anonymous foundation. The project will be overseen by Jennifer Benka, whose previous experience includes serving as executive director of the Academy of American Poets. …

“During a telephone interview with the Associated Press, Alexander emphasized that the literary fund had been in the works well before the National Endowment of the Arts and National Endowment of the Humanities drastically cut back their support this year for virtually every art form. She referred to a 2023 study from the research organization Candid that found literary organizations and individuals were receiving less than 2% of some $5 billion in arts grants awarded in the U.S. … Alexander said support will likely extend across a wide range of recipients, from poetry festivals to writer residencies to small publishers. …

Percival Everett, the Pulitzer Prize-winning novelist, said in a statement that ‘without nonprofit publishers American letters would have stalled long ago.’ Everett himself was published for decades by an independent press, Graywolf, before moving to Penguin Random House and breaking through commercially with James, which received the Pulitzer in 2024.”

More at AP, here. Please let me know if you have experience with nonprofit publishers.

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Photo: NiemanLab.
A late private equity bid to disrupt the sale of the Dallas Morning News to Hearst was foiled by a fourth-generation newspaper owner turning down more money.

Some days journalism and free speech seem threatened on every hand. Whether its officials trying to control what is said or hedge funds buying up newspapers to wring them dry, a girl could get depressed.

Today’s story is about how one newspaper escaped disaster at the eleventh hour.

Joshua Benton at NiemanLab gives his views on what happened. As a former employee of the paper he’s writing about, he gets pretty worked up, but his take is interesting. It reminds me that not all shareholders are greedy. It also reminds that usually they are.

“By now, it’s a familiar move to watchers of Alden Global Capital, the ravenous hedge fund with the unusual hobby of sucking the lifeblood out of newspapers.

“See, Alden likes to wait until a newspaper merger or acquisition is juuuuust about consummated. Then, right before the final papers get signed, it swoops in with a late bid that promises the seller a bigger payday. Respectable newspaper owners don’t love the idea of selling to Alden, whose relish for laying off journalists is well known. They’ve sometimes built entire strategies around selling to anyone but Alden. But in the tense final hours of a deal, it can be difficult to explain to shareholders why, exactly, they should turn down a few extra million.

“It’s smart: wait until some other buyer has kicked the tires and run the numbers to come up with a valuation. If Random Newspaper Company thinks it can profitably run a paper at the price of $𝑥 million, surely Alden can run it profitably at $(𝑥 × 1.2) million. All it’ll take is 20% more cuts — and that’s Alden’s specialty.

“Sometimes it works. In 2018, just before a bankruptcy auction for the Boston Herald, Alden announced its intentions to bid, offering more than double the stalking horse bid made by rival GateHouse. Alden got what it wanted. …

“After a few comparatively quiet years, Alden opened up its playbook again six days ago when it announced a bid for the Dallas Morning News, offering $88 million. This came 12 days after the Morning News had taken itself off the market by announcing it would be acquired by Hearst for $75 million. …

“This time Alden won’t get the prize — because of one particular shareholder. This morning, the DallasNews Corporation (formerly A.H. Belo) announced that its board had “reviewed and rejected” Alden’s offer. …

” ‘DallasNews Corporation controlling shareholder Robert W. Decherd, a great-grandson of co-founder George Bannerman Dealey, sent a letter Friday to his former company’s board emphatically stating his complete commitment to the Hearst merger.’ …

“The Morning News was objectively one of the most appealing solo newspapers left for a chain to snare. For one thing, North Texas continues to boom in population. The Metroplex’s population has grown by 2.9 million people since I started there 25 years ago. (For context, that’s equivalent to adding the entire Denver metro area to a place that already had 5.2 million people.)

“But the DMN is also appealing because it hasn’t been gutted as much as most other metro newspapers in its weight class. To be clear: It’s been cut — a lot. When I started there, the newsroom had more than 600 people and bureaus around the world. Today, newsroom headcount is at 157 people. That’s not 600, of course. But 157 is significantly larger than Alden’s (roughly) 70 at the Orange County Register50 at the Denver Post, or 50 at the Orlando Sentinel.

“For a chain thinking for the long term — like still family–controlled Hearst — that relative strength makes the Morning News an asset worth investing in. But it also makes the DMN appealing to a raider like Alden, for a very different reason: Taking over a bigger newsroom means more opportunities for cuts. …

“It’s easy to over-romanticize the days of family ownership of newspapers. The Dealey–Decherd family has been running the Dallas Morning News, in one way or another, since 1885. Over that century-plus, there’s plenty to complain about. … But there’s a simple grace to how that era of stewardship is ending. Robert Decherd turned down several million dollars to keep his family’s newspaper out of Alden’s hands. I’m not sure how many newspaper owners would do that today — but I’m glad the number is at least one.”

More at NiemanLab, here.

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What do you think makes America great? For me, it’s the Bill of Rights, especially the First Amendment:

Congress shall make no law respecting an establishment of religion, or prohibiting the free exercise thereof; or abridging the freedom of speech, or of the press; or the right of the people peaceably to assemble, and to petition the Government for a redress of grievances.

Whether we walk in dark times or in times of hope, may we always hold on to what is good.

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