ALL THE NEWS THAT'S FIT TO FUND: THE LOW-PROFIT LIMITED LIABILITY NEWSPAPER

Christopher J. Hickman, Brooklyn Law School

Abstract

The traditional media, specifically the newspaper industry, is in a period of significant upheaval. Newspapers are overburdened by economic hardship and the ascension of new models of news-gathering and distribution, particularly the Internet. This Note proposes that the newspaper industry's old, ineffective business platform should be cast aside in favor of a hybrid social enterprise model, specifically the low-profit limited liability company (the “L3C”). The L3C, a "for-profit with a non-profit soul," will function as both an engine for moderate profits for investors and a platform for socially conscious values in the news reporting context.