A power shift in the newspaper industry is finally changing the status quo in this cowtown and what we've noticed is that the local progressive elite are terrified that their stranglehold over The Kansas City Star is now at a conclusion.
The progressive, some would say liberal, leaning of the publication is important if only because there remains some imagined "credibility" in the public consciousness regarding the printed word. Also, even most of our staunchest liberal friends will tacitly admit that "public radio" and "public TV" pandering is tantamount to nothing more than an echo chamber that most other non-affiliated denizens of the discourse easily tune out. Example: Only your classy granny likes or even knows about Downton Abbey.
More to the point . . .
For almost a generation the influence of The Kansas City Star has faded and now the newspaper's ability to dictate policy or start local conversations isn't any grater than the average social media influencer. A change in ownership might only serve to benefit locals given that the current management has presided over demise of the institution and made one bad decision after the next.
Our blog community has talked about this for years but here are more resources on the sitch:
Information Wants To Be Free
McClatchy's bankruptcy is another body blow to the journalism industry " Next up on the Geraldo Rivera 'Roadkill' podcast: An interview with President Trump - Poynter
Your Friday Poynter Report The Poynter Report is our daily media newsletter. To have it delivered to your inbox Monday-Friday, click here. It's not as if we should be surprised by Thursday's news that McClatchy filed for bankruptcy. Poynter business analyst Rick Edmonds and others have seen warning signs about McClatchy for a while.
Jersey Boys Coming Soon
A New Jersey-based hedge fund manager, whose ownership of the National Enquirer landed it in hot water with New Jersey pension fund officials, may soon control one of the country's largest newspaper chains.
Hedging News Bets
Friday's news reports played the story as McClatchy filing for bankruptcy. But that's not the deeper story. The venerable chain, publisher of The Sacramento Bee, Miami Herald, and 28 other papers, is doing a deal with a hedge fund, Chatham Asset Management, which also owns supermarket tabloids.
End Of Era
James McClatchy helped launch The Daily Bee in Sacramento in 1857, and he and his family led the company for 163 years. Sacramento Bee file The McClatchy family dominated the Sacramento landscape for decades, publishing its leading newspaper while shaping the history and culture of the city.
In The Company Of MAGA
McClatchy Co., the owner of the Miami Herald, Kansas City Star and other newspapers, has become the latest casualty of the collapsing industry to fall into hands of an investment firm.
And so . . .
Because journalism navel-gazing is the favorite topic of so many unemployed newsies and this not-so-hostile takeover doesn't really sound so bad given that the company in question has a much better track record than local "experts" who remain out of work . . . We ask our blog community . . .
WILL RIGHT-WING MAGA FRIENDLY HEDGE FUND NEWSPAPER OWNERSHIP HURT OR HELP KANSAS CITY???
It'll be surprising how few people really notice the difference or turn away from their mobile devices to pick up a newspaper.
Meanwhile, the new social media model of pay-for-play in every endeavor from food to opinion journalism turns all the real power over to tech giants in Silicon Valley who mostly let a money-driven algorithm dictate what the public will witness.
And all of this inspires tonight's TKC playlist featuring old-school songs about life's changes . . .
As always, thanks for reading this week and have a safe and fun Saturday Night.