The owners of the Denver Post do not live in that city. They are Alden Global Capital, a hedge fund in New York.
Charles Plunkett, the editorial page editor of that newspaper, wrote an editorial sharply criticizing Alden. He wrote, “Since Alden took control, the decline of local news has been as obvious as it’s been precipitous…The smart money is that in a few years The Denver Post will be rotting bones. And a major city in an important political region will find itself without a newspaper.”
Plunkett didn’t like that the fund had laid off hundreds of employees at the newspaper. He included in his column a photo of the staff in 2013 when they won a Pulitzer and one of the current situation. It went viral.
Management didn’t like that and Plunkett resigned yesterday. He then said, ““It’s a tragedy what Alden Global Capital is doing to its newsrooms and what it’s doing to The Denver Post. It’s an act of apostasy to our profession and I could no longer abide it.”
That’s the way it’s going, isn’t it?
Local news gets chopped and then the parent company, as Gannett is doing here to the Commercial Appeal, cuts staff and fills in with the propaganda they want to push. That negates the whole point of a local newspaper.
There is a market for one, but these owners are hurtling towards Lemmings Leap.