Craigslist, it was about time they gave back. Today, UC Berkeley announced plans to establish the first endowed faculty chair at the Berkeley Center for New Media, thanks to a generous $1.6 million grant from Craigslist. The donation will be given a bigger boost by a matching $1.5 million grant from the William and Flora Hewlett Foundation. According to a UC-issued press release, Craigslist is the eighth largest Internet company in the world in terms of English-language page views and is the most used classifieds service worldwide in any medium. The mission statement of the interdisciplinary Center for New Media, which is headed by professor Ken Goldberg (profiled in the Express here) and includes faculty from UC’s journalism school, is to “explore the powerful effect of new media on culture and think rigorously about how new media will continue to change our lives and perceptions.” Now if they could only figure out how to prevent journalists from withering away.