It’s the end of another busy week.
A lot has been achieved since the start of the month, a mere 28 days have passed since we announce the intention of launching Talking Wales a new publicly owned news and media company.
Our focus now is based on ensuring sound foundations, and to that end, we’re being supported by Cwmpas Cymru as we incorporate Talking Wales as a Community Benefit Society.
A Community Benefit Society is a type of cooperative that reinvests profits into the community it is set up to serve. Our long-term success will lead to substantial investment in news and media provision across Wales, not lining the pockets of shareholders and company owners.
The business plan and financial forecasts are almost complete and we’re meeting Business Wales, who will be supporting us ensuring that our numbers add up, next week to run through the plan.
We know the level of investment that will be required in order to launch the service with a team of journalists based in the communities they’ll be reporting from, and we will, shortly, be publishing details of our pioneer share offer.
This initial round will fund the development phase of Talking Wales and allow us to get everything in place for our main share issue where you will be able to buy a stake in Talking Wales and support the launch of the new venture in 2023.
The current economic and political turmoil has made the need for an objective news service that reports from a Welsh perspective more important than ever. However, setting up a venture on this scale simply cannot be rushed, what we are creating is ambitious and has the potential of making a substantial and immediate impact.