May 9, 2008

The Wealthiest Colleges Should Acquire 'The New York Times'

By LEE SMITH

The time has come for the nation's wealthiest colleges and universities to rescue its leading newspapers — resources almost as vital to higher education's purpose as libraries, laboratories, classrooms, and concert halls. The plan I have in mind would call upon the richest institutions to set aside 3 percent of their endowments to buy The New York Times. That's for a start. Additional purchases of other newspapers by other endowments should follow.

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