Marketplace helps you stay financially responsible all year, now we need YOUR help to keep our budget on track.
Donate NOW to help us hit our target of 2,500 Marketplace Investors by June 30!
TEXT OF STORY
SCOTT JAGOW: Anybody wanna buy a newspaper company? You’d think no, the newspaper business is a money pit these days, but check out how many people wanna buy the Tribune. Gannett has put in a bid for the whole company, including the Chicago Tribune, the LA Times, the Chicago Cubs. Hank Greenberg, former chairman of AIG insurance is reportedly interested. A couple of LA billionaires put in bids last week. So this morning we’re scratching our heads trying to figure out, why? Here’s Alisa Roth.
ALISA ROTH: Publicly-traded newspaper companies have been doing especially badly.
Philip Meyer teaches journalism at UNC Chapel Hill. He says it may be that being a slave to investors and quarterly earnings are precisely what’s killing off the business.
PHILIP MEYER: You can’t do the things a newspaper needs to have done in order to adjust to a world where information travels mostly by the Internet.
He says private owners will have the time and willingness to experiment with the medium. And to find a happy balance between print and the Internet.
Still, he says, he doesn’t expect to see a return to the old model of big profits.
MEYER: Well why would anybody want to own a local sports team? Usually it’s not for the money, it’s for the local prestige, it’s for the chance to do something good for the community. It’s a chance to be perceived as a civic leader, and it’s a lot of fun.
In New York, I’m Alisa Roth for Marketplace.
If you’re a member of your local public radio station, we thank you — because your support helps those stations keep programs like Marketplace on the air. But for Marketplace to continue to grow, we need additional investment from those who care most about what we do: superfans like you.
Your donation — as little as $5 — helps us create more content that matters to you and your community, and to reach more people where they are – whether that’s radio, podcasts or online.
When you contribute directly to Marketplace, you become a partner in that mission: someone who understands that when we all get smarter, everybody wins.