Led by the New York Times and News Corp., eight major news media companies and families ponied up a total of $52 million toward the building of a bigger museum dedicated to the news profession. In return, the donors will see their names adorning the complex’s major galleries and venues.
The Freedom Forum, a nonpartisan media foundation, opened the original Newseum in 1997 in Arlington, Va., just outside D.C., but closed it in 2002 to begin planning for a larger and more centrally located facility.
New Newseum, to be located on historic Pennsylvania Avenue, between Capitol Hill and the White House, will house 250,000 square feet of news history displays, many of them interactive.
The eight donors and their respective gifts are the New York Times Co. with the Ochs-Sulzberger family, $10 million; News Corp., $10 million; the Greenspun family of Las Vegas, $7 million; NBC Universal, $5 million; Time Warner, $5 million; Hearst Corp., $5 million; ABC News/Walt Disney Co., $5 million; and the Pulliam family, $5 million.
Total cost of the new Newseum is expected to run about $437 million. Newseum officials expect other media congloms and families to donate another $50 million in the next year.