Knight Foundation Gives $25-Million Grant to Newseum
March 20, 2008 | Read Time: 1 minute
In its largest gift from a foundation to date, the Newseum in Washington secured a $25-million grant from the John S. and James L. Knight Foundation, reports The Washington Post.
The Newseum will name two broadcast booths and a conference center after the Knight brothers, who founded a newspaper chain. The article did not specify what the gift would be used for, but the Newseum’s chief executive officer said the gift “‘is going to make a huge difference in our long-term ability to focus on issues facing the media.”
The Knight Foundation’s president, Alberto Ibargüen, also sits on the Newseum’s board of directors, but to avoid a conflict of interest, a special committee at the foundation has been dealing with the Newseum.
The Newseum cost $450-million to build and is scheduled to open April 11.
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