A San Diego property developer and philanthropist has launched a bid to buy U-T San Diego, the city’s dominant newspaper, and turn it over to a nonprofit organization, the paper and the Associated Press report. Malin Burnham’s plan would make the daily, formerly known as the Union-Tribune, one of only a handful of established metropolitan papers owned by nonprofits.
Mr. Burnham said he and other area donors have formed a potential ownership group that would apply to the Internal Revenue Service for nonprofit status. The paper itself would remain for-profit, but its parent would use the proceeds to “help many other projects in the community to advance the quality of life here in San Diego,” he said.
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