Charles M Sennott Executive Editor and Vice President

The opportunity: a. A network of foreign correspondents, inspired by the independent photojournalist network

Factors leading to success: a. Track record of business partner Philip Balboni o Prior

Sennott's self description: a. A veteran journalist • A passion for international coverage •

"Aha" takeways from this interview: 1. A non-profit model runs the significant risk of

Slides: 5

Charles M. Sennott, Executive Editor and Vice President a. Prior experience: a. 25 years of journalism, including NPR, Bergen Record, NY Daily News, author of several books b. Boston Globe Middle East bureau chief (1997 -2001), European bureau chief (2001 -2005) c. Nieman Fellowship (2005 -2006) d. Returned to Boston Globe 2006 a. Began planning Global. Post with Philip Balboni in 2007.

The opportunity: a. A network of foreign correspondents, inspired by the independent photojournalist network model b. "To provide the stories that are not being covered by the traditional media. " c. "An international news organization with an American sensibility, American standards of journalism, and an American ear for what we care about. " The risks: a. The early model was non-profit. Risk: inability to sustain donor funding. Solution: move to for-profit model. • Model became for-profit. Risk: insufficient revenue. Solution: develop 3 independent revenue streams (advertising, subscription, syndication).

Factors leading to success: a. Track record of business partner Philip Balboni o Prior success with Continental Cablevision (Comcast) o Access to investors • Investors with long-term views • Vested interest granted to correspondents who receive 10, 000 shares • Correspondents live in the countries they cover • Three independent revenue streams o Advertising o Syndication o Subscriptions

Sennott's self description: a. A veteran journalist • A passion for international coverage • A "great, but untested entrepreneurial streak" • A believer in journalism: "Journalism has value, and great journalism has great value. "

"Aha" takeways from this interview: 1. A non-profit model runs the significant risk of experiencing "donor fatigue" — the inability to garner sustained support from donors beyond a startup period. – Multiple, independent revenue streams can build stability in a business model; among these, a subscription stream is possible when the venture can offer unique, high-value content to targeted subgroups of the audience. – Global. Post is able to operate among many larger, longestablished players by clearly identifying and exploiting a narrowly-defined journalistic niche.