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Did a US Hedge Fund Help Destroy Local Journalism?
"What is lost when billionaires with no background nor interest in a civic mission, who are only concerned with profiteering, take over our most influential news organizations? What new models of news gathering, and dissemination show promise for our increasingly digital age? What can the public do ...
"That's a synopsis posted about the documentary Stripped for Parts: American Journalism on the Brink, cited by the long-standing news industry magazine Editor and Publisher(which dates back to 1901). "[Goldsmith] spent more than 5-years creating his latest work... a film that tells the tale of how newspapers business model is faltering, not just because of the loss of advertising and digital disruption; but also to capitalist greed, as hedge funds and corporate America buy them, sell their assets and leave the communities they serve without their local "voice" and a final check on power. It introduces the notion that the traditional capitalist business model is failing the news industry, and that nonprofit organizations must be providers of local coverage.
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