Colorado Community Media - Gates Family Foundation
Project Description

Colorado Community Media (CCM) is a profitable, family-owned chain of 22 weekly newspapers, two monthlies, and 23 websites serving the suburban and exurban Denver area – making it the largest remaining locally-owned news organization in the state. 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 over the past six years. In 2021, the Healeys were ready to retire and faced a risk that the papers would either be bought by outside 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 keep these local newsrooms in local hands.

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