Magazine article St. Louis Journalism Review

A New Era

Magazine article St. Louis Journalism Review

A New Era

Article excerpt

We very well may be moving into the post-consolidation era of American newspapers. For more than 20 years the trend has been fewer and fewer giant corporations buying more and more of the nation's dailies. That trend may be over.

Wall-Street types might think a 20 percent profit margin is too little for big-time, aggressive shareholders. But it's possible that a lot of newspaper employees or nonprofit groups or small consortiums of local business people could think that percent-or even 10 percent-of, say, $250 million in annual revenues is nothing to sneeze at.

And for the first time in decades, individual newspapers rather than chains are on the market.

When Wall Street forced the sale of Knight Ridder, McClatchy followed the path of Lee Enterprises-a much smaller company buying a large company. Unlike Lee, however, McClatchy Company could only raise the capital if they found other buyers for some of the Knight Ridder properties, individually or in small groups.

All sorts of non-conglomerate buyers have entered the market for those newspapers.

Bloomberg reports that the National Newspaper Guild in Washington, D.C., wants in on the action. If you remember, the employees at the St. Louis Post-Dispatch tried to buy their newspaper when Pulitzer, Inc. went up for sale. But they came up with too little, too late.

If you are the head of a non-profit or an employees' group or a consortium of small business people,--

For a long time the Post has been a hard sell in the 30-something transsexual Republican community.

But a couple of weeks ago the front page of the Sunday edition of the Post was dominated by one story with a large photograph. The photo showed what looked like a man wearing a blonde wig combed into pigtails. He was also wearing a pink, lady's outfit.

It turns out the story was about a man who had a sex change operation and became a woman. …

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