Who Owns the News? A Tale of California Newspapers
So, you're curious about who's pulling the strings on those Southern California newspapers you casually flip through while waiting for your avocado toast to cool down? Well, buckle up, because this is a story as juicy as a California grape.
The Big Kahuna: Southern California News Group (SCNG)
Let’s start with the big daddy of them all: the Southern California News Group (SCNG). This is basically the umbrella under which a bunch of newspapers in the greater Los Angeles area huddle together for warmth (and advertising revenue). We’re talking about papers like the Orange County Register, the Riverside Press-Enterprise, and the Inland Valley Daily Bulletin.
The Puppet Master: Digital First Media
Now, here’s where the plot thickens. SCNG is actually owned by Digital First Media, a company that’s been through more name changes than a reality TV star. Think of Digital First Media as the puppet master, pulling the strings on a bunch of media marionettes.
The Evil Overlord: Alden Global Capital
And who’s behind the curtain, yanking on Digital First Media’s strings? None other than the mysterious and often maligned hedge fund, Alden Global Capital. These guys are like the Thanos of the newspaper world, snapping their fingers and causing newsrooms to disappear.
Is This a Good Thing?
Well, that’s a question with more layers than a California avocado. On one hand, Alden Global Capital is known for its cost-cutting measures, which have led to job losses and concerns about the quality of journalism. On the other hand, they’ve also invested in digital platforms, which could be seen as a move to future-proof the news industry. It’s a complex situation with no easy answers.
So, who really owns the news in Southern California? It’s a tangled web of ownership that goes from local newspapers to a giant hedge fund. And while it might not be the most glamorous story, it's definitely one that affects what you read every morning.
How To...
- How to find out more about SCNG? Visit their website: socalnewsgroup.com
- How to learn about Digital First Media? Do a quick Google search, but be prepared for a rabbit hole.
- How to understand hedge funds? Well, that's a whole other story!
- How to support local journalism? Subscribe to your local newspaper, or donate to investigative journalism organizations.
- How to stay informed? Read multiple news sources, and always question what you read.