Posted on 04/09/2018 1:54:25 PM PDT by george76
The Denver Post is in open revolt against its owner.
Angry and frustrated journalists at the 125-year-old newspaper took the extraordinary step this weekend of publicly blasting its New York-based hedge-fund owner and making the case for its own survival
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The bold tactic was born out of a dissatisfaction not uncommon in newsrooms across the country as newspapers grapple with the loss of revenue
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The lead editorial pulled no punches, describing executives at Alden Global Capital, the paper’s hedge-fund owner, as “vulture capitalists.”
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“The @denverpost is being murdered by its owners,” one Post reporter, John Wenzel, wrote on Twitter. He continued, “We need a new owner, or we are going to get shut down (and soon).”
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Already devastated by staff reductions made since Alden Global Capital took over in 2010, The Post was ordered last month to slash another 30 jobs from a newsroom whose count was already below 100.
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Earlier this year, in another cost-cutting effort, the newspaper left its longtime headquarters in the heart of downtown Denver, steps from the Capitol and City Hall, to an office in Adams County located in the same building as its printing press.
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Digital First Media is among the biggest newspaper chains in the country, with more than 90 newspapers including The Pioneer Press of St. Paul, Minn.; The Mercury News of San Jose, Calif.; The Orange County Register; and The Boston Herald.
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people who bought newspapers on the cheap, thinking they were buying at the bottom,” said Alan D. Mutter, who teaches media economics at the University of California, Berkeley. “The revenue cataclysm continues and probably can’t be reversed.”
Until 2009, Denver was a two-newspaper town, with The Rocky Mountain News in competition with The Post.
(Excerpt) Read more at nytimes.com ...
Two industries both part of the coalition of our ruling progressive oligarchy
Blast away!
The Post looks like it is about to pass the event horizon of the black hole that was created by its vacuous reporting. There’s no escape from their well-earned demise now.
My Dad is 91 years old. 3 months ago, he told the local newspaper he no longer wanted his subscription. Quite a step, since he's been getting the newspaper delivered at the same address for 60 years. They assumed it was financial difficulty and offered that the paper delivery person would give him free copies when available if he stayed with Sundays. He told them - NO, you're too damned leftist and anti-Trump.
Yeah—Blasting the boss is always a good career move.
there WILL BE AN UPDATEd ‘Help wanted’ SECTION, SOON....................
He’s a good man. I get cards all the time from the Minneapolis Star and Sickle. I return them with a note saying I won’t accept leftist propaganda even if it is free.
“but hedge funds should not be able to dictate to a business.”
Not even when you own the company?
Nah.............Trump’s fault..................
Hedge funds are owners, so they have their rights. BUT, hedge-funds are also, financial parasites, using their position at the top of the Federal Reserve monetary creation food-chain, to gather large pools of money at very low interest rates, which is then used burden productive companies with massive amounts of debt, in order to skim their cash-flows.
Do not worry about it. If they fold, another will take its place. Business, like Nature, abhors a vacuum...........
What/Who is Cabelas?..................
The spouse is less than half that but insists on the Sunday copy of the local daily worker rag - The State.
My old lady will get one for the coupons a couple times a year.
Profit is truly loved in PBS.
RB, if the Post folds I’m not sure another paper takes its place. The era of print media is fading fast.
Would I be wrong to suspect that the Denver Post resembles an English language version of Pravda? If so I wonder if these people have considered their political tilt as the reason for its demise.
_______________________________
No and No.
The reporters could always band together to form an online journal. They might have to take a cut in pay....
I cleaned up my K&E Log Log Decitrig slide rule to sell on Ebay. I discovered there are hundreds for sale. Non are being sold. Such a fantastic instrument exists in such great numbers that it is worthless
Cabela’s is without doubt the finest outdoor outfitter in the country.
It was purchased by it’s strongest competitor Bass Pro Shop
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