Daniel Greenfield writing in Frontpage Mag has some thoughts about how the media is committing suicide. They’re good thoughts.
McClatchy had bought Knight Ridder for $4.4 billion to create the second largest news company. After going into Chapter 11 bankruptcy, McClatchy was won in an auction by a hedge fund, which also owns the National Enquirer, in a secret bidding which started with $30 million cash and $270 million in debt.
None of this says anything good about the future of its D.C. bureau, or the Miami Herald, the Fort Worth Star-Telegram, the Sacramento Bee, the Kansas City Star, and other hollowed out husks of major urban papers carrying huge loads of pension debt and even bigger loads of radical left-wing politics.
Earlier this year, Warren Buffett had dumped 30 newspapers that he had bought for $344 million for $140 million. The Newseum, a $450…
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