The Intercept, a billionaire-funded public charity, cuts back

Let's have a look at one of the whitelisted media outlets, shall we? Why is it running as a "public charity" when it is wholly funded by one billionaire?

That a billionaire is laying off employees is not a shock, except  in this case the billionaire’s company was said to be in the public interest. Specifically, The Intercept is classified as a “public charity.” For nearly two years it has been soliciting donations from its readers for “fearless, independent journalism.”

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First Look Media Works, Inc.—the tax-exempt 501(c)(3) side of FLM, and parent of The Intercept—paid Greenwald more than $1.6 million from 2014 to 2017, the last year for which there is a financial disclosure. In Donald Trump’s first year in office, his salary dipped to $369,847, during which time he produced a weekly column—over 50 pieces.

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In order to maintain its status as a “public charity,” First Look Media Works must receive “a substantial part of its support from a government unit or from the general public,” according to the Internal Revenue Service. Specifically, it must receive 33.3 percent of its support this way over five years; barring that, 10 percent, with a good enough explanation (“facts and circumstances”). If it were to lose this status, First Look Media Works would become a “private foundation,” and subject to rigorous scrutiny from the IRS.

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Of the $90 million in total disclosed support it has received, $87 million has come from Omidyar, meaning just 2.7 percent of its revenue can be characterized as “public support.”

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Why do they need a research team? Their orders and info come from the Kremlin.

I wonder why Stephen Adler would have a problem with Greenwald and the Intercept. /s

The CJR is also a non-profit. Do you know what percentage of their funding comes in enormous donations from a small handful of billionaires? Just curious.

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Looks like those Russian sanctions are working!

ahahhahha. get fucked, Greenwald. Enjoy your Democratic paradise in Brazil.

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Cut Greenwald, pay those who do actual journalism