4 ms·

> I am absolutely no fan of Google, but Gannett deserves to go out of business and leave the oxygen for genuine local reporting. Maybe if local newspapers made

• earthboundkid 3y ago
  The problem with local news is multifaceted, but three of the major problems are: - The money moved away from publishers towards ad platforms - The publishers all got bought by asshole private equity guys who are deliberately crashing the papers as a cash out strategy - Wider distribution in the absence of strong anti-trust enforcement rewards conglomeration So, the situation today is that every small local paper, which was a perfectly profitable business in the 80s is now a two page rag owned by a national chain that has planned out how to maximize profit between now and when their last subscriber dies of old age, at which point it will default and screw their creditors.
  • 2OEH8eoCRo0 3y ago
    The "asshole" private equity guys are buying failing papers and making them fail faster. Lack of ad revenue could be why they are failing in the first place and looking to sell. Fantastic article about it: https://www.theatlantic.com/magazine/archive/2021/11/alden-global-capital-killing-americas-newspapers/620171/ https://www.theatlantic.com/magazine/archive/2021/11/alden-g...