Will weekly newspapers work in markets long served by now
struggling daily newspapers? Would local ownership of a newspaper overcome the
problems caused by absentee ownership?
“(A) new
media baron has emerged in the United States ,”
says a report issued by the School of Media and Journalism at the University
of North Carolina at Chapel
Hill . “Private equity funds, hedge funds and other newly formed
investment partnerships have swooped in to buy — and actively manage —
newspapers all over the country. These new owners… mission is to make money for
their investors, so they operate with a short-term, earnings-first focus and
are prepared to get rid of any holdings — including newspapers — that fail to
produce what they judge to be an adequate profit.”
In many communities,
the era of the new media baron is failing.
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