Noon Edition airs on Fridays at noon on WFIU.
Paper Cuts: When private equity firms control local newspapers
This Noon Edition will be held live, broadcasting from the Monroe County History Center
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In January of 2019, south-central Indiana newspapers owned by Schurz Communications Inc. changed ownership from the family-owned company to GateHouse Media, which is now called Gannett. The Herald-Times in Bloomington and newspapers in Lawrence, Owen, Morgan and Orange counties were included in the sale.
The new owners are financially backed by private equity ownership, which puts a premium on profit.
Since Gannett’s takeover staffing has been reduced, circulation has declined, two of the former Schurz newspapers have closed and two more were sold.
The changes at these local newspapers have caused anger and confusion, leading many to seek other options for filling the local news gap. National researchers have documented negative issues of private equity ownership on a national scale.
This week on Noon Edition, we will talk with guests about the changes in area newspapers and the impact of private equity ownership in news.
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