National Trust for Local News - Colorado Community Media - Gates Family Foundation
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Project Description

Colorado Community Media (CCM) is the largest remaining locally-owned newspaper chain in the state, with nearly two dozen weekly newspapers, websites and digital newsletters serving the suburban and exurban Denver area. Former publishers Jerry and Anne Healey had grown the business into the state’s largest family-owned media group through acquisitions of four different companies. In 2021, the Healeys were ready to retire and faced a risk that the papers would either be bought by out-of-state corporate interests or even go out of business.

With coordination made possible through the Colorado Media Project, a group of philanthropic funders (Gates, The Colorado Trust, and the American Journalism Project) joined forces to guarantee a loan that allowed the National Trust for Local News to buy CCM and create the Colorado News Conservancy to keep these (and potentially other) local newsrooms in local hands. In 2022, the partners paid off the original loan for one with a lower interest rate from the Ft. Collins-based Bohemian Foundation. Gates and The Colorado Trust remain guarantors for the new loan.

Because this program-related investment is a loan guarantee, funds are not actually paid out unless the loan to the National Trust goes into default. The guarantee is released when the loan is paid off within five years.

Amount $750,000
Year Awarded 2021
Support Type Program-Related Investment
Strategic Priorities

Informed Communities

Areas Served

* Statewide

Website https://coloradocommunitymedia.com/
Term 5 years
Payment Schedule