News

Dramatic changes in news ownership have been recent and swift. Today, hedge funds control one-third of U.S. newspapers, and all four of the largest local newspaper chains are owned or managed by these poorly regulated financial institutions. Three-quarters of the top 200 newspapers by circulation are owned or controlled by hedge funds.

Reporters from 75 or more news outlets across the United States descended on Kenosha, Wisconsin, to cover emotional and sometimes violent protests in the days after Jacob Blake, a 29-year-old Black man, was shot in the back multiple times by Kenosha police.

But when community members gathered for a prayer service on the shores of Lake Michigan a few days after Blake was shot, the only reporter present was from the local paper, the Kenosha News. 

When Evan Brandt began working at The Mercury as a municipal reporter in 1997, his beat focused on one community -- Pottstown, Pennsylvania, and the daily paper had 14 reporters, including a few sportswriters.

Twenty-three years later, Brandt, The Mercury’s only municipal reporter, covers nine school districts and 30 communities in and near Pottstown, a town of 23,000 people 40 miles northwest of Philadelphia.

“You get good at multitasking,” Brandt, 56, said matter-of-factly, a tone of weariness in his voice.

Alden Global Capital, known for plundering newspapers, plans to expand ownership of Tribune Publishing

Move is latest Alden ploy in a larger effort to gut newsrooms across the country, detailed in new, comprehensive report

NewsGuild-CWA Outlines Path for Industry’s Survival

Sept. 11, 2020 - Alden Global Capital, the hedge fund known for pillaging newspapers, plans to expand its ownership stake in Tribune Publishing as soon as Jan.

This morning, NewsGuild released a damning report on Alden Global Capital, a hedge fund that controls more than 70% of MediaNews Group (e.g., Denver Post, San Jose Mercury News, and the Boston Herald).

NewsGuild president Jon Schleuss calls it an “extinction-level event.” Many of the affected newsrooms are members of the Guild, which started a campaign, Save The News, to raise awareness of the depth of the crisis and urging Congress to pass legislation that will enable the industry to survive it.

SPRINGFIELD, Illinois -- The daily newspaper in this capital city of 115,000 is one of the go-to places for political coverage in a state where consecutive governors went to federal prison, the state’s finances are precarious and the longtime speaker of the Illinois House may be in the crosshairs of a federal investigation.

These days on the Cape, there are six weekly papers that are not owned by Gannett. Falmouth publishing, owned by the Hough family of Falmouth, owns four of those papers, the Enterprise in Famouth, Mashpee, Bourne and Sandwich. The others are the Cape Cod Chronicle, owned by Henry Hyora of Chatham, and the Provincetown Independent owned by co-founders Ed Miller and Teresa Parker of Wellfleet, and 14 other investors.