Community news ownership

Writing in the Los Angeles Times about the ongoing turmoil in the news industry, Harry B. Chandler looks at the idea of community ownership:

Another sports ownership example worth contemplating is community ownership, like that of the Green Bay Packers football team. Article I of its bylaws states, "This association shall be a community project, intended to promote community welfare … its purposes shall be exclusively charitable." Sound appealing? If 20% of Times readers invest $1,000, it could work. I'll write the first check for the Los Angeles Times Community Owners LLC.

This is very similar to the vision of the Oshkosh Community News Network.