The Atlantic

A Billion-Dollar Bet on Local News

We’re making a $500 million investment. The other half is up to you.
Source: Gueorgui Pinkhassov / Magnum

In 2012, I began as the new head of a school in Massachusetts. For many people from outside the region, the town and the school, both named Andover, are synonymous. Although the town had many other important institutions, the school was among its biggest employers and landowners, and has been central to its layout, history, and economy.

When I arrived, the town’s weekly newspaper, , was produced in a bustling downtown newsroom. I read every article, got to know a few of the journeyman reporters, and occasionally heard from the editor, who would walk up the hill to sit in my office and chat about what was going on. The paper covered local politics, the school board, and the vibrant Little

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