Dead-tree media continues its quickening journey down the toilet bowl of history as the finances of a local institution will now be hidden from public view.
Brief aside, for all of the crybaby lamentations regarding "journalism" -- At this late hour we finally realize that All The President's Men was mostly fiction and Martha "The Mouth" Mitchell knew way more than any scrap that was fed to low-rent newsies. Years later and also in the declining era of social media, it's not too much of a jump to understand that gossip, rumor, politics and speculation comprise most of what we call news.
But I digress . . .
For our most dedicated late night denizens of the discourse, we offer this news update which offers a dire glimpse at the future for the Kansas City Star.
CRJ: Could McClatchy become a nonprofit newspaper chain?
NYT: Under Hedge Fund Set to Own McClatchy, Canadian Newspapers Endured Big Cuts
Fox Biz: Job cuts at US newspapers up 170% in first half of the year
And then, here's what is likely the biggest causality of the pandemic according this bit of newspaper promo . . .
These McClatchy financials are a window into how much damage Covid-19 has done to the newspaper business
Newspaper companies can be opaque to outside observers. Many of them remain in private hands, unobligated to share any numbers that might make them look bad. Others are wrapped up into giant chains who report things like digital subscriptions or advertising revenue only in lump sums. (When one company owns more than 300 local news properties across two continents, it can be hard to suss out anything granular.)
Developing . . .