Newly split from Paramount Global, the Save the Music foundation announced a $10 million endowment fund as it continues as an independent nonprofit.

Save the Music, the nonprofit foundation that grew in popularity on cable TV through in the late 1990s through the 2000s, is going indie.

Along with writing, Flanagan spent a decade as the editor of Musician magazine. His 1995 book, U2 at the End of the World, ...