Quarterly magazine the Bristol Cable has received a £100,000 grant for two years from ‘philanthropic investment firm’ Omidyar Network.
The community-owned title was launched in 2014 by three university friends and publishes a free quarterly magazine along with running local events and media training sessions. It currently has 1,900 contributing members and a ‘small team’ of paid contributors and claims its mission is to support independent media.
With a heavy emphasis on membership and community-involvement, Bristol Cable will use the funds to focus on creating a ‘community-owned media with a sustainable business model’ as well as producing ‘quality, impactful investigative journalism, supported, informed, produced, and discussed by members’.
A spokesperson from Omidyar Network told Press Gazette: “The Cable’s ethos and practice is driven by a determination to turn readers from consumers into producers and owners of their media. This relationship is a radical departure from the traditional model of local news media.”