Jim Hightower, Alternet - The demise of the real news reporting by our city and regional papers is a product of their profiteering owners.
Not the families and companies that built and nurtured true journalism, but the new breed of fast-buck hucksters who’ve scooped up hundreds of America’s newspapers from the bargain bins of media sell-offs.
These hedge-fund scavengers know nothing about journalism and care less. They’re ruthless Wall Street profiteers out to grab big bucks fast.
They slash journalistic and production staff, void employee benefits, shrivel the paper’s size and news content, sell the presses and other assets, and triple the price of their inferior product — and then declare bankruptcy, shut down the paper, and auction off the bones before moving on to plunder another town’s paper.
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