L3C: Explaining the new corporate form for journalism

By Bill Densmore on October 2, 2009 0 Comments Experiments

Bill Densmore interviews Jennifer Towery and Robert Lang

AUDIO: Explaining the L3C -- a new lease for newspapers?

Jennifer Towery and Robert LangJennifer Towery and Robert Lang are an unlikely alliance. Towery: A young editor from DeKalb, Ill., and union president at a chain-owned daily in Peoria. Lang: a retired costmetics manfacturer from Westchester County, N.Y. But each shares a desire to find a new structure for corporate America. Lang originated the idea of the "L3C" -- a low-profit, limited-liability corporation which is now recognized by at least seven states. Towery wants to turn the Peoria Journal Star's ownership over to to its employees and readers. Both attended the Midwest Newspaper Summit in Dubuque, Iowa, on Sept. 17-18, 2009. They explain their common purpose in an interview with the Media Giraffe Project's Bill Densmore. Click on the carat to the left of the bar below to launch an audio stream, or download an MP3 podcast for offline listening. ( Duration:12 minutes, 17 seconds File Size:2.95 MB)

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