News

When Alden comes in, it’s slash-and-burn time. Newsroom jobs — reporters, editors, photographers — are cut to the bone. Decisions are made not for long-term sustainability, not for service to the community, not for humane treatment of skilled and dedicated staff, but for next quarter’s profit-and-loss statement.
Corruption is flourishing in the rural corners of South Carolina as newspapers fold or shrink coverage amid a financially crippling pandemic.
A hedge fund that owns a big stake in Tribune Publishing Co. is in talks to buy the newspaper chain behind titles including the Chicago Tribune and New York Daily News. ... A deal would have far-reaching implications for an industry beset by sharp declines in revenue over the past 20 years that have led to a wave of consolidations and cost cuts. Between 2008 and 2019, the industry shed 51% of its newsroom jobs, according to the Pew Research Center.
In an effort to preserve and expand community journalism, the Corporation for New Jersey Local Media (CNJLM) today announced a letter of intent has been signed with the New Jersey Hills Media Group, publisher of this newspaper, to work together on converting the group’s 14 weekly newspapers in Morris, Somerset, Essex, and Hunterdon counties to non-profit ownership.
As New York vulture fund Alden Global Capital takes steps to take majority control of Tribune Publishing, The NewsGuild-CWA has requested a federal inquiry into Alden’s secretive offshore ownership structure.

Calling a hospital to see if a bed was available for a COVID-19 patient isn’t part of Houston television news anchor Chauncy Glover’s job description. Neither is guiding a viewer online to find a place to be vaccinated.

He’s done both, and isn’t alone. Listeners and readers across the country are reaching out directly to journalists for help during the coronavirus pandemic, and many are responding.

Today some of [Hartford Courant’s] young reporters fear for its future. Gathered downtown on a drizzly October afternoon, they have a new mission: finding a civic-minded rich person to buy their publication. Their hope is to rescue the Courant from what they see as the clutches of investors out solely for profit rather than to uphold democratic ideals and expose social ills. Emily Brindley, an energetic 25-year-old who leads the paper’s coronavirus coverage, summarises her view of its existence under its current owner, a New York hedge fund: “At best, we’re numbers on a spreadsheet,” she says. “At worst, we’re not even on a spreadsheet.”
“The people who provided the money for the purchase just wanted to make sure that Nantucket continues to have its own newspaper,” Stanton said. “We’re seeing newspapers all over the country close. Small newspapers are closing or being bought, and then you’ve got towns without any independent news.”