Hedge funds buy newspapers, bleed ‘em dry

Hedge funds are buying up newspapers and draining them of every last dollar they can get before letting them wither on the vine.

That’s the conclusion of veteran newspaper analysts.

GateHouse, which took over the BJ’s assets, Alden Global and Chatham Asset Management, which has a strangehold on McClatchy, once owner of the BJ, were cited as prime examples.

Part of the strategy is to dump highly paid, unproductive reporters and make those still in the newsroom take up the slack.

Some newsrooms were reduced from 200 to two dozen editors and reporters.

Read the full article by clicking on https://www.bloomberg.com/news/articles/2018-05-22/the-hard-truth-at-newspapers-across-america-hedge-funds-are-in-charge