The Newseum in Washington DC, a monument to journalism and the First Amendment, has removed from its gift shop shirts emblazoned with the phrase “Fake News,” saying stocking the items was a “mistake.”
Public financial documents reviewed by The Associated Press show revenue fell short of expenses by millions of dollars in 2009, 2010 and 2011. Its parent organization, the Freedom Forum, has used its endowment to provide the bulk of the Newseum’s operating revenue since its creation, and the endowment’s principal value has steadily declined from $600 million to about $373 million at the end of 2011.
