Private equity squeezing life from newspapers
In her new book Margot Susca reports that private equity purchase of chains like Gannett, GateHouse, and Lee Enterprises means that their newspapers purpose is to make money rather than to serve democracy. Jack Shafer, Politico, February 18, 2024, paraphrases Susca, “Some papers have been reduced to zombie versions of their former selves as the new owners have shaved them down to minimize costs, depriving readers of the comprehensive coverage they enjoyed in the golden