New Report | Investing in Facts: How the Business Community Can Support a Healthy Infosphere

©Müge Ayma /

Washington, D.C. — The private sector has a critical role to play in supporting a healthy information space, according to a new report released by the Center for International Media Assistance (CIMA) at the National Endowment for Democracy in collaboration with the Center for International Private Enterprise. 

Failing market conditions, the loss of advertising revenue to big tech, and autocratic encroachment in the media sector have made it difficult for even the best news outlets to protect their editorial independence and remain financially resilient. Drawing on case studies conducted in Czechia, Romania, and Serbia, Investing in Facts: How the Business Community Can Support a Healthy Infosphere identifies strategies for unlocking private capital and incentivizing greater engagement of the business community to protect information integrity and support independent journalism.  

Given the immense challenges independent media are facing, greater engagement of the private sector is critical to help save it,” said CIMA’s Deputy Director Heather Gilberds. “The business community also has much to gain as a healthy information space can strengthen markets and protect brand integrity.”  

Based on 57 interviews, the report identifies promising methods for greater engagement of the business community, such as pooled funds, ethical advertising coalitions, and support for issue-based journalism. The most promising initiatives are those that aim to galvanize support from groups of business leaders, such as the Endowment Fund for Independent Journalism (NFNŽ) in Czechia. 

Ultimately, the report found that there is good reason to believe that improving the dire state of independent media and maintaining a healthy information space globally is possible, but requires new approaches, partnerships, and financial resources. Unlocking this catalytic potential requires more concentrated collaboration between the business community and the media sector, and new mechanisms to draw in private capital. 

Read more on CIMA’s website 



The Center for International Media Assistance (CIMA), at the National Endowment for Democracy, works to raise the visibility of and strengthen support for independent media development throughout the world. The center provides information, builds networks, and publishes research reports that aim to bolster the effectiveness of media assistance and highlight the indispensable role independent media play in the creation and development of sustainable democracies. 


The National Endowment for Democracy (NED) is an independent, nonprofit, grant-making foundation dedicated to the development and strengthening of democratic institutions around the world. With an annual appropriation from Congress, NED funds more than 2,000 grants in 100 countries. NED’s grants program is augmented by the International Forum for Democratic Studiesthe World Movement for Democracy; and the Center for International Media Assistance.


Christine Bednarz, Director of Communications;; +1-202-200-6872