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John Thornton, a general partner of Austin Ventures is the chairman, Texas Tribune, of a new nonprofit, nonpartisan newspaper. It has been reported that many news organizations in the state of Texas have cut back on their coverage of Statehouse news. The Texas Tribune hopes to change that by posting political and civic stories on their website and distrubuting those stores state-wide.
This past week Texas Tribune secured two more experienced staff members. Alisha Ring, the President of the Austin Technology Council has announced that she will step down on July 31. Ring has agreed to take the role of General Manager of the nonprofit news startup. Ring has been the president of ATC for four years and has helped grow and sustain its membership during that time.
Yesterday the editor of Texas Monthly, Evan Smith, announced that he will also be leaving his position and accepting the title of Chief Executive of the Texas Tribune. Mr. Smith has spoken publicly about the tragically low voter turn-out in the state of Texas and hopes that the Texas Tribune can garner interest in politics state-wide.
Mr. Thornton reports that he has raised $1.2 million and given $1 million to start the Texas Tribune. Mr. Thornton has the goal of securing at least 2 years of runaway even if the site doesn't gain any additional revenue. It's unlikely with an experienced staff like Ring and Smith that Mr. Thornton has to worry about the lack of additional revenue.
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