[rsanek]

Here's a couple concrete examples I found. It seems like most have to rely on multiple revenue streams for it to work -- something like 1/3 reader revenue (membership), 1/3 grants/philanthropy, 1/3 earned income (events, merchandise, etc).

https://en.wikipedia.org/wiki/The_Bristol_Cable

https://en.wikipedia.org/wiki/The_Ferret_(website)

https://en.wikipedia.org/wiki/City_Bureau

https://en.wikipedia.org/wiki/De_Correspondent