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Pennies from heaven

New Internationalist magazine has not sold out, it’s sold itself to its readers, raising £704,000 in a month-long fundraising campaign.

On 7 April, the day after the community share offer closed, NI co-director Helen Wallis wrote: ‘this email finds us audience-owned, fully capitalized and in a position to put our ambitious plans into action’.

The magazine, which had only hoped to raise £500,000, will now be owned by 3,400 investors who bought shares over the month-long fundraising campaign.

Topics: Media