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Grist, a 20-year-old nonprofit online magazine that focuses on climate and environmental coverage, has taking full ownership of all the assets of what's left of Pacific Standard, an award-winning magazine that closed in 2019.

Why it matters: Pacific Standard shut down in 2019 after its main backer, an academic publishing house, withdrew its funding, showcasing the risk that comes with quality journalism being funded without a reliable business model.

It's also a timely investment.

  • "One of the many reasons we were enthusiastic about taking on the Pacific Standard's archives and brand is its long history of reporting on social justice and race," says Grist CEO Brady Walkinshaw.

Details: "There is no cash component as a part of the deal from Grist," says Walkinshaw. "We're not purchasing it. We agreed to take it on to keep 12 years of work in the public domain."

  • Grist will be taking over 20,000+ stories from the Pacific Standard's archives, as well as all of its audio and video assets. The content still generates a small but notable monthly audience of 1 million readers per month, which still brings in a small amount of ad revenue as well ($2,000 - $3,000 monthly).
  • It's looking at relaunching the brand, and it plans to reinvest that revenue to grow its freelance budget to support reporters doing work on social and environmental justice.
  • Walkinshaw says Grist is committed to keeping the outlet public and free.

The big picture: Grist's takeover of Pacific Standard is a good example of how media companies of any size can help to support the great work of other outlets.

  • Grist is small, but its readers are hyper-loyal and its subject matter expertise, environmental justice, is becoming more important every day.
  • Over the years, it has broadened its scope to cover culture, politics and food systems — all related to climate change and environmentalism.
  • The company makes about $6.5 - $7 million in revenue annually from a variety of sources, including philanthropy, grants, membership fees, advertising and branded content sponsorships. Membership fees, while a small portion of the overall pie, have doubled in the past year.

Go deeper

In photos: Egypt unveils 3,000-year-old "lost golden city"

A view on Saturday of the city, dubbed "The Rise of Aten," dating to the reign of Amenhotep III, uncovered near Luxor. Photo: Khaled Desouki/AFP via Getty Images

A top Egyptian archaeologist on Saturday outlined details of a newly rediscovered "lost golden city" near Luxor that dates back more than 3,000 years.

Why it matters: Zahi Hawass told NBC News the large ancient city, unveiled Thursday, tells archaeologists for the first time "about the life of the people during the Golden Age." Johns Hopkins University Egyptology professor Betsy Brian said in a statement it's "the second most important archeological discovery since the tomb of Tutankhamen."

1 dead as severe storms pummel the South

A tree that fell on a home carport damaged a vehicle during a storm in Central, Louisiana. No injuries were reported, according to Central Fire Department. Photo: Central Fire Department/Twitter

Strong storms lashed the South early Saturday, spawning at least one tornado and unleashing powerful winds and hail. And forecasters warned more severe weather was expected to hit parts of the region in the coming hours.

Details: Thousands of customers lost power in Florida, Mississippi, Arkansas, Texas and Louisiana, according to tracking site poweroutage.us. An F3 tornado that hit St Landry Parish, Louisiana, killed one person and wounded seven others.

Scoop: Biden eyes Russia adviser criticized as soft on Kremlin

Photo: Alexander Shcherbak\TASS via Getty Images

President Biden is considering appointing Matthew Rojansky, head of the Wilson Center's Kennan Institute, as Russia director on the National Security Council, according to a source familiar with the situation.

Why it matters: Rojansky has been praised for his scholarship on Russia and is frequently cited in U.S. media for his expert commentary. But his work has drawn criticism — including in a 2018 open letter from Ukrainian alumni of Kennan that blasted the think tank he runs as an "unwitting tool of Russia’s political interference."

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