The Downside of Local Newspaper Ownership: A Cautionary TaleJon Fine
Wendy McCaw, ex-wife of cell-phone tycoon Craig McCaw, bought her local paper—the Santa Barbara News-Press—in 2000 from the New York Times Co.
Of late, things have gotten very colorful. LAObserved sums it up nicely:
It’s definitely a lesson for those who wish for the Richard Riordans and David Geffens of the world to take over newspapers: be careful what you ask for.