Over the last 15 years, half the newsroom jobs at U.S. newspapers have been eliminated, as private equity vultures strip-mine some of America’s last remaining newspapers for short-term profits. Cities as big as Pittsburgh now have no daily print newspaper at all.
The pandemic has accelerated this crisis in journalism, with a bloodbath of layoffs, asset sales, and newspaper shutdowns.
When investigative journalists become an endangered species, it’s a catastrophe for democracy. Every time a newspaper closes or a reporter is laid off, it becomes a little easier for politicians to line their pockets and for corporations to abuse workers, pollute the environment, and rip off customers.
The Intercept rejects the short-term, self-defeating approach of cutting newsroom staff to squeeze out profits. In fact, we’re a nonprofit, and we don’t run ads on our website. The generous support of readers gives our reporters the freedom and resources they need to stand up to the most powerful forces in society.
But in order to continue to keep filling the gap in investigative journalism left by the slow death of newspapers, we’re counting on all our readers to include The Intercept in your Giving Tuesday donations. The first $10,000 donated today will be matched by a generous grant from Newsmatch, an annual campaign to strengthen nonprofit newsrooms.
It’s clear that the old print newspaper business model is dead and never coming back. Classified advertising revenue is gone and paid subscriptions of print dailies are falling fast.
Meanwhile, hedge funds and vulture capitalists are accelerating the decline, buying up once proud newspaper chains only to decimate their newsrooms and eke out a few more years’ profits before closing up for good.
It’s fair to ask whether newspapers will even exist at all in 20 years — and if not, who will stand up and warn the public when corporations and politicians abuse their power?
The Intercept gives reporters the freedom and support they need to do deep investigations that won’t get done anywhere else. And because we’re nonprofit and rely on donors, rather than advertising, we don’t have pressure from corporate overlords to squeeze out every last penny of profit.
As a reader, you know the value of The Intercept’s investigative journalism. This Giving Tuesday, we’re counting on your support. And because your donation will be matched, whatever you give is worth twice as much today.
Make a Giving Tuesday donation to The Intercept and help save investigative journalism.
