The Salt Lake Tribune has announced plans to become a nonprofit as it moves toward a nontraditional model that it hopes will ensure long-term stability after years of financial struggles.
Salt Lake Tribune editor Jennifer Napier-Pearce said Wednesday the move is aimed at finding a better way to fund the newspaper's operations because declines in advertising and circulation revenues that have plagued the industry seem irreversible.
The plan would be similar to setups at the Philadelphia Inquirer and Tampa Bay Times. Both are owned by nonprofit foundations.
The Tribune's wealthy publisher, Paul Huntsman, told the staff about the plan Tuesday, and the newspaper published a story Wednesday . Huntsman purchased the newspaper in 2016, leading to a period of increased stability and a Pulitzer Prize 2017. But the newspaper laid off one-third of its staff last year.