After the closing of the Puerto Rico Daily Star, the commonwealth's only English-language daily, a group of 85 employees chipped in $800 apiece to start their own nonprofit newspaper, the Puerto Rico Daily Sun. They don't even have a web site yet - unless you count the "coming soon" page at prdailysun.com. But they do have a Facebook page.
I am not making this up. I read it in Saturday's Miami Herald.
The best material is at the end of the story. Editor Rafael Matos admits the seven-reporter tabloid is heavy on wire copy. But the strategy of going print-only first was deliberate decision to build audience, he told the Herald. Otherwise, he said, "nobody would buy the thing."
Legally, Matos said, ownership is organized as a cooperative. He concludes:
It's the cheapest way to set up a media enterprise. I know in the U.S. it sounds like socialism, but in this part of the Caribbean, cooperatives are a lifesaver. If we can keep this paper alive, we are a success. ... All we need is to break even.