L.A. Times media critic James Rainey has a nice piece on the Jewish Journal of Greater Los Angeles, which just had its tuchas saved by $800,000 worth of charitable donations, after enduring layoffs and 20% staff salary cuts.
More from Rainey:
The money came from four philanthropists — Westfield mall Chief Executive Peter Lowy, Internet executive and venture capitalist Art Bilger, cooking oil maker and long-time Journal board member Irwin Field and a fourth, anonymous, donor.
On a $4-million annual operating budget, the contributions will “give it a very stable foundation and allow us to grow all these parts of the operation,” said Lowy, who said he expects advertising to cover more than 90% of the expenses in future years with ongoing fundraising to cover the rest.
“The future for print media isn’t the rosiest, but this is a way we can add philanthropy to a business enterprise,” Lowy said. “This is an experiment in what I would call a community media group. The Journal is very important to the Jewish community. But we think this might work for any communal group.”
Rainey notes that despite the magazine’s financial struggles, editor Rob Eshman isn’t holding back in his approach: adding diversity to the range of commentary; pushing circulation to 50,000; launching a monthly magazine called “Tribe”; and starting the online Jewish social networking site “everyjew.com.”