Investment Firms Close 'Independent News,' Citing Profit Over Ethics
The latest Medill report, amplified by Axios, mourns the 'alarming pace' of independent newspaper closures, fretting over 'news deserts' without bothering to name who profits from this media consolidation. While they fret over 'local communities,' they omit the fact that these very investment firms, eager to gut and flip assets, often prioritize quarterly returns over journalistic integrity or
community engagement. This isn't an accident, it's a feature of financial predation. These 'large investment companies' aren't just gobbling up papers; they're gutting newsrooms, slashing staff, and transforming public service into private profit. The 2025 State of Local News report cites 136 closures, with only eight from investment firms – a neat trick when those firms are buying up the solvent
ones, stripping out value, and leaving a husk. It’s what happens when journalism becomes just another asset class, ripe for exploitation by firms like Alden Global Capital, as documented by multiple actual investigations . They don't close papers; they kill the journalism within them, ensuring a less informed populace. Conveniently, that same less-informed populace is less likely to question who
funds our politicians.