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Technology Stocks : Media Industries: Newspapers, TV, Radio, Movies, Online
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From: Ron3/29/2023 6:55:17 PM
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Texas Observer will continue publishing after staff crowdfunds more than $300,000 The crusading liberal magazine had planned to lay off its staff after its nonprofit board voted to shut down. But it reversed course on Wednesday.

Days after voting to cease publication and lay off its journalists, the nonprofit publisher of the Texas Observer said on Wednesday that it would change course and keep the publication going, following an emergency appeal that crowdsourced more than $300,000 to save the 68-year-old liberal publication.

“Today, upon receiving significant financial pledges over the past few days, the Texas Observer board gathered to vote to reconsider previous board actions,” Laura Hernandez Holmes, the president of the board of the Texas Democracy Foundation, which publishes the magazine, said in a statement. “The vote to rescind layoffs was unanimous, and the board is eager to move the publication to its next phase.”

She praised the donors who had stepped forward “as well as gratitude to the Observer’s staff for stepping up and working hard to keep the publication alive.”
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