Snarky comments aside, in situations like these, a little candor goes a long way. I see no candor in this memo. These moves are not “progress.”
Here’s the truth: McClatchy announced its first quarter results on April 27. The company reported a net loss in that period of $38.9 million, compared to $95.6 million in the first quarter of 2017. Not all the news is bad. But it’s hard to see how McClatchy’s ownership of the Star-T has been or will be good for the city of Fort Worth.
The Bass brothers have famously poured much of their fortune into that town, making it in some ways the envy of those of us who live to the east. Why not buy the Star-Telegram? Better yet: why not hire away the seven people remaining at the paper and start a nonprofit news organization? I don’t know. Something. Anything is better than what McClatchy is doing.