ThinkProgress Put Up For Sale By Liberal Nonprofit Center For American Progress: We Have ‘Divergent Missions’
The Center for American Progress (CAP) put its left-leaning news site ThinkProgress up for sale on Monday after the think tank sent out a staff memo questioning the outlet’s viability and citing “divergent missions” between the two entities.
“Unfortunately, like so many other news outlets that have relied on advertising to fund its work, ThinkProgress has seen a significant drop in revenue in recent years, along with other financial strains,” wrote CAP Action Fund executive director Navin Nayak in a letter first reported by The Daily Beast. “In addition, events over the last few years have underscored the divergent missions of American Progress and ThinkProgress.”
“For all of these reasons, we announced to the ThinkProgress staff today that we are searching for a new publisher for the news site. This is a tough decision since ThinkProgress has been a part of CAP Action almost since its founding. While ThinkProgress’ financial challenges are unsustainable for an organization like CAP Action, we are hopeful that there are publishers who would be better able to support ThinkProgress’ mission and better positioned to maximize the significant value ThinkProgress has built up.”
Launched as the thinktank’s flagship publication in 2005, ThinkProgress maintained that it was “editorially independent” from CAP. The Daily Beast report, which states the site has never turned a profit, noted ThinkProgress is $3 million in the red for this year and suffered a $180,000 decline in donations. These issues were exacerbated by the site’s $350,000 drop in advertising earnings.
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