What No One Tells You About Starting a Media Company: Actionable Legal and Business Advice from a Startup Lawyer
From fundraising to IP ownership, Travis Rundlet breaks down what media founders need to get right from day one.
These takeaways come from a recent workshop hosted by URL Media, a client of Rundlet Advisory, featuring a dynamic panel of media entrepreneurs: S. Mitra Kalita (URL Media), Mazin Sidahmed (Documented), Janelle Zagala (URL Media), and Travis Rundlet (Rundlet Advisory). The conversation offered hard-earned lessons and real-life advice for anyone building a media business from scratch. Special thanks to Sonali Kohli of URL Media.
Each panelist brought a critical piece of the puzzle:
Mitra Kalita reminded founders that your business often begins by solving a real need, not by writing a business plan. Her earliest success came from sharing local COVID resources via email, which later evolved into Epicenter NYC.
Mazin Sidahmed emphasized the value of listening before launching. Through information needs assessments, his team was able to build Documented’s most impactful offerings, like WhatsApp-based news for immigrant communities.
Janelle Zagala urged new founders to avoid overhiring too early. “Prove your concept, grow slowly, and handle compliance properly,” she advised, offering tips on employment classifications and PEO services.
Together, the panel painted a clear picture: building a media company requires creativity, commitment, and business fluency.
Travis Rundlet, a media-producer-turned-lawyer, brought clarity to the legal and structural side of the equation. With a J.D. from Columbia Law School and an M.B.A. from Harvard Business School, he now counsels early-stage founders on how to structure, protect, and fund their companies the right way—so they can grow with confidence and retain control. Here’s the legal and business guidance Travis offers to early-stage media entrepreneurs:
1. Start by Defining the Business You’re Actually Building
Before raising money or filing paperwork, you need to clearly define what you're selling and how you’ll earn revenue. Many founders lead with their mission, but Travis Rundlet emphasized that you should begin with your business model: Are you monetizing content, selling ads, offering services, or hosting events?
According to Travis, revenue strategy determines everything from your legal structure to staffing choices. A strong mission matters, but it won’t carry the business unless the numbers work.
Travis encouraged founders to ask:
What are my revenue streams?
What are my costs to create and distribute content?
How will I measure success—financial returns, reach, or impact?
2. Know What Kind of Funding You’re Seeking
Travis broke down the 3 main types of capital, each with distinct implications:
Grants provide capital without repayment, but often come with restrictions.
Debt must be repaid, but allows you to retain full ownership and control.
Equity means selling a share of your company, giving investors a long-term claim on profits and often a voice in decision-making.
Travis urged founders to choose funding types based on their actual business model and long-term goals—not just what’s commonly pursued.
"You don’t need to give away your company just to launch it," he advised. Carefully consider your investor’s expectations. Are they looking for financial returns, social impact, or both? That answer should shape who you approach and how you structure your ask.
3. Structure Your Business Thoughtfully From the Start
Your legal structure affects tax obligations, investor access, and long-term flexibility. Travis recommended that founders weigh the two most common structures:
LLC: Offers flexibility and simplicity, especially for small teams or contractors.
Delaware C-Corp: Often preferred by institutional investors because of its standardization and governance model.
Travis warned that fixing a poor structure later can be costly and disruptive. He compared it to launching a rocket: small miscalculations early on can send you way off-course down the line. When asked by an attendee about when to bring in legal help, Travis advised involving a lawyer as early as possible, especially if you're taking in capital, creating intellectual property, or issuing equity.
4. Secure Ownership of All Your Content and IP
Travis made it clear: if you’re launching a media company, your intellectual property is the core of your business—and you must own it, fully and clearly.
He advised founders to:
Use signed contracts with contractors and freelancers that assign all IP rights to the company.
Transfer any pre-existing IP from the founder(s) into the business.
Keep clean documentation of all ownership arrangements from the start.
In response to an attendee question about freelance contributors, Travis stressed that IP ownership must always be in writing. Without it, investors may see your business as too risky or undefined to back.
5. Be Selective About Who You Take Money From
Not all funding is created equal. Travis cautioned against assuming that venture capital is the gold standard—especially for community-oriented or mission-driven media.
He advised seeking out:
Mission-aligned funders
Strategic partners
High-net-worth individuals who care about your outcomes, not just your returns
Fundraising should be a two-way conversation. You're choosing your partners just as much as they’re choosing to back you. In response to an audience question about how to raise funding without giving up equity, Travis shared this advice: “Ask for advice, and you might get support. Ask for money, and you’ll get advice.”
6. Embrace Your Role as Founder, Not Just Journalist
Many media entrepreneurs come from storytelling backgrounds, but running a company requires learning new skills. Travis acknowledged that the shift from editor to CEO can be uncomfortable, but also empowering.
He encouraged founders to:
Build teams with complementary skill sets
Be willing to make mistakes and learn
Develop a clear plan and seek out trusted advisors
In response to a question about staying mission-aligned without burning out, Travis emphasized the value of clarity: clear contracts, clear ownership, and clear values all support a founder’s ability to lead effectively.
Final Thought
Building a media company takes more than a great story — it takes structure, clarity, and the right legal foundation. From funding to ownership to day-one decisions that shape long-term outcomes, the most successful founders treat their business like a business from the start. At Rundlet Advisory, we partner with mission-driven entrepreneurs to help them launch with confidence, grow with control, and protect what they’re building.
Ready to take the next step? Reach out to us here.
