Left-leaning site the Intercept is reportedly running out of cash amid New York Times flap
NY Post
Left-leaning news site the Intercept is reportedly in dire financial straits that could cause the nonprofit to shutter next year — as it attacks the New York Times over alleged bias in its Israel-Hamas war coverage.
The Intercept — co-founded by Glenn Greenwald and Laura Poitras a decade ago and originally financed by eBay billionaire founder Pierre Omidyar — is losing around $300,000 per month and could run out of money by May 2025, according to Semafor.
Last year, Omidyar cut his support and the site was spun off by its parent company, First Look Media, to become an independent nonprofit newsroom that could raise money from philanthropists as well as solicit donations from readers.
The spinoff was carried out with a grant of $14 million from First Look Media.
The Intercept is on track to have a balance of less than $1 million by November, Semafor reported.
The financial difficulties have fueled tension in the newsroom as the business side is seeking to rein in some of the site’s overtly left-wing coverage in hopes of attracting more funding — a development that has irked staffers who say it’s an encroachment on its editorial independence.
