NYT: Denver Post Rebels Against Its' Hedge Fund Owner
The Denver Post is in open revolt against its owner.
Angry and frustrated journalists at the 125-year-old newspaper took the extraordinary step this weekend of publicly blasting its New York-based hedge-fund owner and making the case for its own survival in several articles that went online Friday and are scheduled to run in The Posts Sunday opinion section.
News matters, the main headline reads. Colo. should demand the newspaper it deserves.
The bold tactic was born out of a dissatisfaction not uncommon in newsrooms across the country as newspapers grapple with the loss of revenue that has followed the decline of print.
The move at The Post followed a prolonged, slow-burning rebellion at The Los Angeles Times, where journalists agitated against the papers owner, the media company Tronc. Newsroom complaints about Troncs leadership helped lead to the sale of the newspaper to a billionaire medical entrepreneur, Dr. Patrick Soon-Shiong, who had been a major shareholder in Tronc.
https://www.nytimes.com/2018/04/07/business/media/denver-post-opinion-owner.html
If you want to know why we have a world without facts, look no further than the consolidation of America's local newspapers. They have become nothing more than piggy banks for hedge fund billionaires. This has got to stop.