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Why the EveryBlock Sale Matters: Chicago Foundations Pass the Buck on Sustainability

As widely reported this week, Chicago-based hyperlocal newsfeed aggregator was bought out by MSNBC for an undisclosed sum likely in the millions. At a time when Windy City foundations are posturing to be the nonprofit saviors of online local news, the surprise sale may point to a different future for popular sites. Is there money to be made in the online local news sphere after all?