Forgive another foray into nostalgia but we love a good old-school story here at TKC.
Accordingly, for those who haven't read it yet . . . Check former KC newsman Jimmy C offering his take on the day before the local newspaper was controlled by corporations . . . And now a hedge fund looking to break the parent company into pieces in order to secure their profit.
Take a peek . . .
"When Capital Cities and Tom Murphy came knocking in 1977, it rocked the newsroom. All of a sudden we lowly employees realized that things would be changing in a big way. Most of us were not happy about it and would have preferred that the paper remain employee owned, but, on the other hand, Cap Cities was offering $2 for every $1 worth of stock."
Read more via www.TonysKansasCity.com link . . .
The man who ushered in the era of corporate journalism -- in which family- and employee-owned newspapers gave way to conglomerates and then hedge funds -- died last Wednesday at his home in Rye, NY. Thomas S. Murphy, who initiated corporate creep with his company's purchase of The Kansas City Star and Times for $125...