Newspapers provide a window to world events. These media companies typically offer reporting and information in paper or digital form to explain international, national and local events. Creating a business plan for your newspaper provides a formal document to attract financing and partnerships. The plan also helps focus your company on a direction and mission for your paper. A traditional business plan includes formal segments demonstrating your company has an understanding about operations and financing, and a vision of where your paper wants to be in the future.
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As the local news marketplace transforms, these new ways of doing business could take hold next year and beyond. Predictions are a tricky business, but there is one sure thing for local news publishers cannot depend on the old ways of doing business. The time for chain newspapers wielding a monopoly in communities is ending, and more independent and nonprofit news organizations are taking root around the country and making sure that watchdog journalism continues to thrive. The old business model was largely dependent on print advertising and circulation revenues, and newer digital ads have been gobbled up by the voracious tech giants, Facebook and Google. Many local news organizations talk about working more closely with their communities, listening to what they want, engaging over social media and at in-person events.
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