It’s not every day that you get people who are anxious to tell you that they’re investing in newspapers, that great industry sector that took a swan dive into an empty swimming pool over the past couple years. Private equity firms that are getting into that game again are just that — PRIVATE.
If you read often enough about the supposed death of the newspaper business, you would think that the nation’s newsrooms are increasingly depopulated, barren places, with darkened offices and empty cubicles… the occasional tumbleweed blowing past. (Actually, large stretches of Tribune Co’s New York bureau look just like that, as I saw earlier this year).
Tribune Co.’s new owner, billionaire and orator nonpareil Sam Zell, let Chicago Tribune intern Katie Hamilton know exactly what he thought about her recent prank on rival paper the Chicago Sun-Times — one that has produced its fair share of chatter in the Windy City.