Local newspapers are dying. Local philanthropy is booming. At least these are the myths we live by. Let us imagine they are true.
Both require local knowledge. Connections. Relationships. Information. Both need nurturing and attention. Now add in the facts that there is also boom in blogging, the rise of consumer/producers (or, as you knew they would be called, "prosumers"), and great interest in user-generated content (see this story on Current TV).
Bring it all together and it practically begs the question, "Why don't community foundations start to act like community media? - They could share information, host the technology tools (wikis, blogs, video blogs) that community reporters would use, it would open up information sharing, the foundations would learn more about what really matters in the community, the community could "speak" directly to the foundation, the local newspaper could provide editing expertise, ad sales, and reporting & analysis.