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As someone who has some experience running these kinds of operations, a few thoughts on Think Progress. First of all, the mix of changing media consumption habits and plummeting digital ad revenues are absolutely brutal. There’s a reason so many digital operations ....
2/ are going under, being sold for parts or radically retrenching. We are faced with very similar challenges. What’s not clear to me is this. ThinkProgress is not a for profit operation. It’s run/owned by a think tank that is funded by a mix of personal, foundation,
3/ corporate giving. So the decision to sell seems as strategic as it is budgetary. Do you want to run a news site? Do you want to prioritize it as a fundraising goal, etc. It does like they expanded a lot right in the face of the crash. And they’re ....
4/ reportedly running a deficit in the millions of dollars. So maybe the P and the L just collided too rapidly close it even though a foundation can access tax preferred contributions.
5/ This isn’t a criticism. The digital news business is brutal. Absent a deep desire to be in the business, not totally sure why you would be. But still this seems as much strategic as budgetary.
