For a preview of the newspaper industry’s coming death, turn your gaze to Colorado, where the withering and emaciated Denver Post finds itself rolling in profits.
The Post’s controlling owner, “vulture capitalist” Randall Smith, has become journalism’s No. 1 villain for having cheapened and starved not just its Denver paper but many of the titles—including the St. Paul Pioneer Press, the San Jose Mercury News and the Orange County Register—that his firm, Alden Global Capital, operates through the Digital First Media chain. At the Post, Smith’s firm cut the newsroom from 184 journalists to 99 between 2012 and 2017, Bloomberg News’ Joe Nocera writes. Over the same time, Smith’s Pottstown Mercury fell from 73 journos to 10 while its Norristown Times-Herald went 45 to 12. And the cuts just keep on coming. For newspaper lovers, the cuts have been a disaster.