By selling Berkshire Hathaway’s newspapers to Lee Enterprises, the world’s most successful investor is acknowledging the industry’s downhill slide is not near an end.
The number of employees soon to be cut at the No. 1 U.S. newspaper chain is about the same number as the No. 2 chain has in total. But newsrooms should mostly be spared — for now.
What will the largest local news company need to do and be to be successful in the 2020s? Neither Gannett nor Gatehouse has offered any big vision of what that is, or could be, even fueled by new money.
The merger of the United States’ No. 1 and No. 2 newspaper chains will likely spark a new wave of consolidation among its smaller competitors. But will the potential cost savings be eaten up by debt payments to financiers?
Newspapers were, for decades, a prime example of a community institution, meant to last through the centuries. A new generation of owners is thinking of them more as something to milk for profit on their way down.
The pricetag would be high, but it might be worth it to reassemble one part of the old newspaper bundle — tying together local news and local services.
Doctor, Ken. "Newsonomics: Buying Yelp — and making it the next core of the local news and information business." Nieman Journalism Lab. Nieman Foundation for Journalism at Harvard, 21 May. 2015. Web. 2 Jun. 2020.
APA
Doctor, K. (2015, May. 21). Newsonomics: Buying Yelp — and making it the next core of the local news and information business. Nieman Journalism Lab. Retrieved June 2, 2020, from https://www.niemanlab.org/2015/05/newsonomics-buying-yelp-and-making-it-the-next-core-of-the-local-news-and-information-business/
Chicago
Doctor, Ken. "Newsonomics: Buying Yelp — and making it the next core of the local news and information business." Nieman Journalism Lab. Last modified May 21, 2015. Accessed June 2, 2020. https://www.niemanlab.org/2015/05/newsonomics-buying-yelp-and-making-it-the-next-core-of-the-local-news-and-information-business/.
Wikipedia
{{cite web
| url = https://www.niemanlab.org/2015/05/newsonomics-buying-yelp-and-making-it-the-next-core-of-the-local-news-and-information-business/
| title = Newsonomics: Buying Yelp — and making it the next core of the local news and information business
| last = Doctor
| first = Ken
| work = [[Nieman Journalism Lab]]
| date = 21 May 2015
| accessdate = 2 June 2020
| ref = {{harvid|Doctor|2015}}
}}
