Summary

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The capitalization gap for independent news media businesses in developing markets is a stark reality. There are persuasive social impact arguments to extend support to independent news media businesses. There are also convincing arguments that providing finance capital has a significant impact on independent media sustainability, as proven by recent successful public-private initiatives that have mobilized funding to independent news media businesses around the world. This paper assesses the capitalization gap, identifies entry points for philanthropic capital and prepares a compelling case for developing existing initiatives and exploring new ones that can bridge the gap and channel necessary funding to the sector.