Home | About | Donate

'Destroyer of Newspapers' Vulture Hedge Fund Buys Majority Stake at Tribune Publishing

Originally published at http://www.commondreams.org/news/2019/11/20/destroyer-newspapers-vulture-hedge-fund-buys-majority-stake-tribune-publishing

Was there ever a chance of converting ChiTrib to a worker-owned co-op? That would seem to be a positive way to go, rather than down the vulture-capitalist shit hole.

4 Likes

We have no civilization. The very word is based on the concept of civil, meaning mutual respect and trust. No, we have a corpocracy, and we seem to be very content to be corporate bitches, to do whatever they want. If we truly were a civilization, a community, we’d want a trust-buster to break up and/or ban these hedge funds and vulture capitalism.
Without a community newspaper, there is no community. It’s another Enclosure Act, making sure local ties now become just another commodity
To show just how much the people who run these corporations think of the welfare of the Commons, listen to this quote by Big Pharma, “I charge.the highest amount for medicines so I can get the highest profit” It’s assumed this money would go to shareholders, but it was left out that the shareholders are the same people who run the corps. So round and round it goes…

4 Likes

Oh America: ----sigh—I guess we can add Freedom of the Press, to the fire that is already consuming Freedom of Speech. : (

good thinking about such a co-op for papers. If that doesn’t work, maybe local investors or a local labor union could somehow keep a newspaper going, in cooperation with other co-ops or worker owned newspapers. Its not hard to generate opinions, but it does take effort and resources to cover meetings, read reports, interview participants, investigate alleged wrongdoing… and alternatives to newspapers don’t and can’t do nearly enough of that

1 Like

the Trib has ALWAYS been the right wing Republican rag in Chicago. When I was a kid the Sun Times was the Paper of LABOR. that died to.
So if the Trib goes from Right wing rag to Fascist Rag… eh

1 Like

Probably no chance. Unless some Union has the money to buy and run it.

1 Like

The trib will become MORE worthless than it has been for decades.
Unless you’re a Fascist. then probably nothing will change for you

LOL just realized how many time I"ve posted on this. I live in N IL and have had to deal with the Trib most of my life

1 Like

This happens because the old business model died. You don’t make a lot of money producing information to draw attention to sell to advertisers.

Government and business entities with PR problems have stepped in to fill the gap, but the results are not completely stable.

1 Like

Many of these caused their own demise via their unwavering support for Republicans, destructive right wing ideology and unrestrained cowboy capitalism.

Those of us who would have and for years did support their papers were as often than not dismissed as __________ (fill in the blank with an AM radio epithet).

1 Like

These vampire funds buy up companies ,suck them dry and drop them by the wayside. they are the cancer that has taken control of our economies

1 Like