We may have just seen the first in a series of moves that could transform journalism in Vermont — for better or worse, but more likely the former.

The five-newspaper Vermont Community News Group, a locally-owned for-profit enterprise, is being acquired by the National Trust for Local News. The Colorado-based nonprofit is young (achieved tax-exempt status in 2022) but growing rapidly (2024 revenue $53 million). Its mission: to protect and sustain local news operations. In its own words:

The National Trust for Local News is protecting these vital civic assets and transforming them into a resilient, uniquely scalable non-profit news organization. Our goal is to harness local newspapers to build a more equitable and vibrant future for local news, nationwide.

I don’t know anything about the National Trust, but it seems to be legit. Its leadership includes an impressive array of people with experience in journalism, nonprofit enterprise, and (somewhat worryingly) the corporate world. (McKinsey? Ew.) It forswears donations from those with political agendas, and promises a hands-off relationship with its outlets’ editorial policies and journalistic standards.

Here’s why this could be a seismic event for Vermont journalism. When the National Trust enters a new state, it takes no half measures. It has operations in three states (Colorado, Georgia, Maine) and owns a total of 65 outlets so CNG’s five weeklies seem like a beginning, not an end. Based on track record, I assume the National Trust has made a thorough study of our news ecosystem and has decided it’s a promising market. I wouldn’t be surprised if it snaps up a bunch of local news outlets and maybe some bigger ones. (Some of our daily papers? VTDigger? Seven Days?) It could soon be a dominant force in Vermont journalism.

Disclosure time! I’m on the board of the nonprofit Hardwick Gazette, but nothing I write here reflects the views or outlook of that worthy enterprise. I have no information about The Gazette’s plans. As far as I know, we don’t have any. This news is farm fresh. This post is entirely my own opinion.

Onward. The acquisition seems to be good news for those served by CNG and for those who work there. Its owners had decided to go nonprofit anyway because of “increased financial stresses,” and the deal involves nothing more than “a nominal fee.” In other words, the book value of CNG is small to nonexistent and its commercial prospects are dismal. I hate to say so because those papers do a tremendous amount of good work for their communities, but facts are mean. Operating a local news outlet continues to be an iffy proposition at best; our valued outlets are running on the dedication and energy of the people who report and produce the news. Those are not inexhaustible resources.

The National Trust aims to solve many of nonprofit journalism’s problems by offering an umbrella organization with solid expertise and resources. It promises not to cut any jobs at CNG. That’s what they all say, but the Trust’s track record suggests that it keeps its promises.

There has been talk, which has never gone farther than just talk, of building some sort of cooperative network among Vermont news outlets. Perhaps a statewide team that could sell advertising to large businesses across multiple local outlets. Perhaps a more robust effort at collaborative journalism that would go beyond the simple sharing of content. Nothing has ever come of it, mainly because everybody’s working as hard as they can to keep their own lifeboats above water. No one has the time to build a larger and more sustainable infrastructure.

The National Trust seems to be aimed at that specific bottleneck. If it does come strong into Vermont, it may revitalize local news around the state, or at least stop its continuing decline. Right now, a lot of thought is going into nonprofit journalism: How to make it sustainable and responsive to community needs. The CNG acquisition is yet another sign that nonprofit is our only hope for the future of sustainable journalism. If the National Trust lives up to its promises, we may be about to take a big step into that future.