Two words, it’s not complicated: “Outside ownership.”
Just a couple of years back the Anchorage Daily News was a profitable newspaper. But ADN has been in trouble ever since The McClatchy Comapany which owns the Daily News burdened itself with debts intended to grow its holdings. ADN management now claims that they are in trouble because of “National trends” in the newspaper business. That’s pure B.S. ADN is in trouble because the owners, The McClatchy Company, has been demanding cuts (wage, costs, salaries) from all of the papers that they own. That in turn has diminished the quality of the newspapers that The McClatchy Company publishes and has severely damaged the subscriber base of their newspapers (I bailed on ADN a year ago). McClatchy bought ADN, killed off the competition and sucked off the profits for many years. NOW, when The McClatchy Company is in trouble, we Alaskans are being left without quality news coverage -and- not even a hint of investigative journalism. The McClatchy Company, using ADN management to cover their tracks, has the temerity to blame ADN’s problems on National Trends. That’s BS – but, of course, we will end up paying the price for McClatchy’s bad business practices. ADN is failing because a large National Corporation is failing. Left alone ADN would still be a viable business entity.
Good nite, and good luck to us all.