The New York Times is aiming for philanthropic funding for its work.
The Times announced Friday that veteran editor Janet Elder would head a new division focused on securing nonprofit funding sources for its journalism, as well as potential local partners.
"Over the past year a host of philanthropies and universities have come forward asking to help support our journalism," editor-in-chief Dean Baquet and managing editor Joseph Kahn stated in the news release.
"Even with the strength of our business and the size of our newsroom, there are opportunities to extend the reach and impact of our journalism with additional support."
"And we believe we can also work with philanthropies and universities to launch ventures that will help the wider world of journalism, not just The Times," the news release said.
The Times is battling steep declines in print advertising, though it's had a surge in digital subscriptions and digital ad growth.
Publications like the Times have often done stand-alone projects with nonprofits or philanthropic organizations, but the new arrangement formalizes the process and signals a bigger commitment to nonprofit partnerships, The Wall Street Journal reported.
Earlier this week, the U.K.'s Guardian announced it had launched a nonprofit arm to focus on raising money from philanthropies, corporate foundations, and private citizens.
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