“In a sign of the times for the troubled newspaper industry,” reported Paul Farhi in The Washington Post, “the nation’s most venerable press-management and training organization,” has gone out of business.
The American Press Institute, based in Reston, has merged with Arlington-based Newspaper Association of America, under a merger approved by the two organizations in January.
Farhi’s piece noted that API’s assets — “primarily a multimillion-dollar endowment — will be pooled with the NAA Foundation’s endowment to fund programs, said Bob Weil, API’s vice chairman and an executive with McClatchy, the Sacramento-based newspaper company.”
Farhi’s piece also stated:
API gave seminars, conferences and workshops for thousands of media executives and journalists from around the world. It was founded in 1946 by Sevellon Brown, the late editor and publisher of the Providence Journal, and originally was housed at Columbia University in New York.
At its peak in the 1990s, the nonprofit organization employed more than 30 people to run its frequent programs.
But API’s fortunes declined in parallel with those of newspapers, which were once one of the most profitable businesses in the nation. The combination of shifting reading habits, the onset of digital competition, consolidation of chain-store advertisers and the recession pared industry revenue by 44 percent between 2001 and 2011, according to the Newspaper Association. This has pushed several major chains into bankruptcy and triggered widespread cutbacks in newsrooms.
The decline has forced newspapers — the main supporters of API — to trim their contributions to the organization.
More at: http://www.washingtonpost.com/lifestyle/style/american-press-institute-to-merge-with-naa-foundation/2012/03/22/gIQA8hDkUS_story.html