SALT LAKE CITY (AP) — The Salt Lake Tribune says it has received approval from the IRS to convert into a nonprofit as the newspaper switches to a nontraditional model that it hopes will ensure long-term stability after years of financial struggles fueled by declines in advertising and circulation revenues.
The newspaper said Monday in a news release that it will be governed by a board of directors and rely on donations but maintain editorial independence and the ability to cover news and sports and have an editorial cartoonist.
The Tribune editorial board, however, will no longer make candidate endorsements.
The plan is similar to arrangements at the Philadelphia Inquirer and Tampa Bay Times, which are owned by nonprofit foundations. The Tribune’s is different because the newspaper itself becomes a nonprofit.