Preserving the local in local news with the National Trust for Local News’ Elizabeth Hansen Shapiro Local News Matters

In this episode, I sit down with Elizabeth Hansen Shapiro, CEO and co-founder of the National Trust for Local News, to discuss the vital work they're doing in preserving and evolving local news across the country. Elizabeth, with her background as a Harvard Business School-trained academic ("failed academic" in her words, since she's now actively working in the field), brings a unique and insightful perspective to our conversation. I was particularly excited to step back and geek out a little to apply business theory to the challenges and opportunities in local news.
We cover a range of topics, from the importance of community weeklies and the criteria used to select titles for investment, to the progress of ongoing initiatives and finding the right balance between local ownership and the efficiencies of larger news chains. We also discuss the relationship between mission and profit in the news industry, and what wild success for local news could look like five years down the line. By incorporating business concepts such as jobs to be done, localism, and Clayton Christensen’s disruptive innovation theory, we offer a fresh lens through which to view the future of local journalism.
 
Episode chapters:
(02:32) - The National Trust’s mission and why legacy news might be worth preserving
(07:12) - The importance of community weeklies
(11:41) - Evaluating titles for investment
(14:38) - How current projects are doing
(17:01) - Local involvement/ownership and benefiting from chain-like scale
(22:09) - Other lessons learned
(23:28) - The mission/profit relationship
(28:08) - What does wild success look like in five years?
(29:49) - Business theory applied to local news: business models
(33:18) - Business theory applied to local news: jobs to be done and localism
(37:54) - Business theory applied to local news: Clayton Chrstensen’s disruptive innovation theory
(44:21) - Business theory applied to local news: false rigor
(47:37) - Rapid-fire questions
 
Links: National Trust for Local News: web, LinkedIn, Instagram, Medium, Twitter/X
Elizabeth Hansen Shapiro: LinkedIn, Twitter/X
 
Mentioned:
Colorado Community Media
Maine Trust for Local News
CUNY Craig Newmark Graduate School of Journalism’s Executive Education Program in News Innovation and Leadership
Tow Center for Digital Journalism at Columbia University
Shorenstein Center on Media, Politics, and Public Policy 
Membership Puzzle Project’s Guide to Membership
Berkman Klein Center for Internet and Society
Harvard Business School
Democracy Fund 
KERA
Denton Record-Chronicle
Press Forward
LNM episode with Sarahbeth Berman of AJP
Sue Cross of INN
Invent and Wander: The Collected Writings of Jeff Bezos, With an Introduction by Walter Isaacson
Elizabeth's dissertation
Jobs to Be Done
Stratechery by Ben Thompson
Clayton Christensen’s Disruptive Innovation
Subtext
Alabama Media Group
Golden Transcript (and its examination of its contribution to systemic racism)
Superhuman email client
 
Recommendations:
Caleb's Crossing
Schmigadoon!
Taylor Swift
 
Local News Matters: web, Twitter, Facebook, LinkedIn
Colorado Press Association: web, Twitter, Facebook
Tim Regan-Porter: bio, Twitter
For show notes, transcripts, newsletter sign-up and past guests on the Local News Matters podcast, please visit localnewsmatterspodcast.com or lnmpod.com.

Past guests on the Local News Matters podcast include: Mike Rispoli and Richard Young (via When the People Decide), Sarabeth Berman (American Journalism Project), Rabbi Hillel Goldberg and Shana Goldberg (Intermountain Jewish News),  Lyndsay C. Green (via The Journalism Salute), Rashad Mahmood and Mark Glaser (New Mexico Local News Fund), Christian Vanek and Barbara Hardt (The Mountain-Ear), Dan Grech (BizHack), Zack Richner (Easy Tax Credits), Tracie Powell (Pivot Fund), Dan Oshinsky (Inbox C