A release stated that the money will be used for "scholarships for deserving students" with half placed in an endowment account and the remaining half for immediate financial aid to cover tuition and summer internships.
"I am especially pleased that News Corporation will also provide some students with summer internships at the New York Post, Channel 5, and the Fox News Channel," said Stephen Shepard, dean of the CUNY Graduate School of Journalism.
In a statement, News Corporation Chairman and Chief Executive Officer, Rupert Murdoch, said he was glad to aid the journalism school. "Now more than ever we need curious, well-trained journalists to make sense of the rapid technological and social changes around us," Murdoch stated. "It is my hope that CUNY's school will encourage a diverse student body that will bring new ideas and approaches to the age-old art of journalism."
The CUNY Graduate School of Journalism opened in the fall of 2006.
By: Joe Strupp News Corporation is giving $500,000 to the City University of New York Graduate School of Journalism, which will be paid over a five-year period, according to CUNY.