Philanthropies Pledge $500 Million To Support Local News

Over 20 nonprofits are investing $500 million over 5 years in local media as part of Press Forward initiative.
MacArthur Foundation is leading Press Forward, with support from Knight, Ford, Carnegie foundations.
Goal is providing grants to existing outlets, building tools, supporting diverse and underserved areas.
Addresses rapid disappearance of local news leading to information gaps.
MacArthur, Knight contributing $150 million each; grants coordinated by Miami Foundation.