Saving Local Newspapers Squeezed By Hedge Funds
The conversation about the crisis in local news has tended to focus on two solutions: helping create local news startups and supporting local newspapers still in existence. Each approach has limitations and promise. Birthing nonprofit news organizations is critically important and valuable, but so far there are far too few (around 300), and their scale is small. Congress, on the other hand, has so far focused on helping existing newspapers as they often are the only source of information in a community. But as a long-term strategy that is misguided.