When H.F. “Gerry” Lenfest announced he was donating $20 million of his own fortune as well as The Philadelphia Inquirer, the Daily News, and Philly.com to a newly created nonprofit called the Institute for Journalism in New Media, the the response was equal parts jubilation and skepticism.
“This is a long view about the funding and future of journalism,” said Terry Egger, publisher of the Philadelphia Media Network, the umbrella company previously owned by Lenfest that holds those news organizations.
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