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Financial Struggle
Since 2011, The Daily Tar Heel has been losing money. In recent years, the 123-year-old newspaper has had an annual deficit of about $200,000. Betsy Donovan, general manager of The Daily Tar Heel, cited changes in the industry, specifically the decline in print advertising, for the organization’s financial situation. In a Medium essay in August 2016, she wrote that the Tar Heel has two years to “figure out its finances.”

To create more revenue, Donovan launched The 1893 Brand Studio, an in-house agency for services and creative consulting, in 2017. The Tar Heel has also cut the number of days in print to three. In March 2017, Donovan said the University of North Carolina’s 2017 men’s basketball national championship reduced the Tar Heel’s deficit from about $100,000 to less than $50,000 for the fiscal year. The organization’s annual revenue at the time was just under $900,000 per year.