Investing in Journalism: Supporting Local News, Hedge Fund Research, Public Funding Initiatives, and Food Justice in Pittsburgh

The decline of local news outlets has been a significant crisis for democracy in America [1b85df77]. To address this issue, the MacArthur Foundation has partnered with the American Journalism Project to raise $500 million and support local news providers [1b85df77]. Their goal is to develop sustainable models with multiple revenue streams and create a more robust and equitable local-news system [1b85df77]. However, the $500 million raised by the consortium is considered insufficient, and communities must also step up to support their local news providers [1b85df77]. On the other hand, investment firm Hunterbrook has hired investigative journalists to support its research team in identifying deals [29782f59]. The journalists will operate independently and search for stories that can be used to position the firm for or against a listed company, country, or bonds [29782f59]. Once the investment is made, the news will be published [29782f59]. Hunterbrook aims to time trades based on the news it publishes, leveraging the expertise of its journalists [29782f59].

In addition to these initiatives, there is a growing trend of public funding for local news. The California Local News Fellowship program, based at the UC Berkeley Graduate School of Journalism, launched in 2022 with $25 million in state funding [ae096457]. The program aims to directly meet information needs in communities across the state and support the next generation of journalists [ae096457]. The fellowship program has sent the first cohort of journalists to newsrooms across California, with the current funding supporting two more cohorts [ae096457]. The fellows receive intensive support, training, and mentorship and are paid full-time salaries and benefits by UC Berkeley [ae096457]. This model of local news fellowships is gaining traction in states beyond California, with public funding of journalism fellowships passing in Washington State and New Mexico [ae096457]. The California Local News Fellowship program is part of a larger national commitment to local news, spearheaded by Berkeley Journalism dean Geeta Anand and University of Florida College of Journalism and Communications dean Hub Brown [ae096457].

Meanwhile, in Pittsburgh, there is a call for the creation of a Food Justice Fund to address food access disparities in the city, particularly in the designated Healthy Food Priority Areas (HFPAs) where high rates of hunger and lack of access to healthy food are prevalent [099f7e7b]. Just Harvest, an organization advocating for food justice, is urging the City of Pittsburgh to establish the fund with a total investment of $10 million over multiple years, using a portion of the city's $355 million ARPA funds [099f7e7b]. The Food Justice Fund would support community-led projects that increase healthy food access in HFPAs, with a focus on minority-owned or run projects [099f7e7b]. The goal is to alleviate hunger, address systemic racism, and strengthen the overall economy by creating employment opportunities and developing a robust food economy [099f7e7b].

The initiatives to support local news, hedge fund research, and public funding for journalism are crucial for maintaining a well-informed society and promoting transparency. Similarly, the call for a Food Justice Fund in Pittsburgh highlights the importance of addressing food access disparities and systemic racism in communities. These efforts collectively contribute to a more equitable and informed society.