Christianity Today Turns Down Canon Press’ $10M Purchase Offer. Are They Playing Hard to Get?
Days after Doug Wilson-affiliated publisher Canon Press sent an offer to Christianity Today, seeking to purchase the publication and all its holdings for $10,000,000, the publication has turned down the offer, insisting it is “not for sale.”
CT Interim President and CEO Thomas Addington reportedly told The Roys report in an email: “We recently received an unsolicited offer by a third party to purchase Christianity Today. Christianity Today is not for sale and has never been for sale.”
It is unclear whether or not CT would consider a larger offer, given that they did not say they will never be for sale, and whether or not Canon Press’s offer was their best number, or only the first salvo.
Given their source of funding, however, the odds don’t look good for Canon Press. In her recent Daily Wire article, author Megan Basham follows the money trail and helps pinpoint much of CT’s source of funding. After noting that the the pro-choice Hewlett Foundation gave CT more than $1,000,000 in the last three years, she reveals:
“In the past five years, Christianity Today has increasingly relied on donations rather than subscriptions for income, IRS filings show. In 2020, only about 20% of revenues came from grants and donations. Today, it’s more than half. The Lilly Endowment, founded by the Eli Lilly family of pharmaceutical fame, is another major backer, granting the magazine $8 million since 2016 for initiatives ranging from a “national storytelling grant” to developing tools for preachers.
In response the news, Canon Press retweeted:
They want to sell to a black not a jew.
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