The Downside of Local Newspaper Ownership: A Cautionary Tale

Posted by: Jon Fine on July 6, 2006

Wendy McCaw, ex-wife of cell-phone tycoon Craig McCaw, bought her local paper—the Santa Barbara News-Press—in 2000 from the New York Times Co.

Of late, things have gotten very colorful. LAObserved sums it up nicely:

It’s definitely a lesson for those who wish for the Richard Riordans and David Geffens of the world to take over newspapers: be careful what you ask for.

But you do yourself a great disservice if you don’t read the lavishly-detailed and ridiculously entertaining accounts of all the mishegas here, here and here.



The media world continues to shapeshift as new forms arise and old assumptions erode. On this blog, Bloomberg Businessweek will provide sharp analysis and timely reports on the transformation of this constantly changing terrain.



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