Ken Doctor, of Nieman Lab, reveals that Alden Global Capital, the hedge fund that owns dozens of newspapers in the country, had a 17-percent operating margin in 2017, well above most newspaper companies. The Pioneer Press cleared $10 million in profit, a 13-percent operating margin after the company slashed the workforce to about 60 people. Read more →
What’s done is done. What’s likely to happen is likely to happen. But we’re still left wondering why the area — and, in particular, its local leaders — didn’t appreciate the value of a local newspaper when they had a chance to make a difference.
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You can forgive your local Pioneer Press employee for being a little nervous today. The sale of his/her newspaper appears at hand. It’s a buyout firm, which means they’re not that interested in great journalism. Read more →
Pioneer Press reporter Mike Berardino felt compelled today to explain why he didn’t serve up softballs to Minnesota Twins outfielder Torii Hunter and Hunter’s news conference earlier this week.
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In an ad in the competing Star Tribune, the Minnesota Newspaper & Communications Guild said Digital First is seeking an ‘exit strategy’ from the newspaper business. Read more →
What do you take with you after a lifetime of dedication to a company? The Pioneer Press, still with a beating heart if not much more, is saying goodbye to employees who have taken a buyout in its parent corporation’s latest round of cost cutting. It’s another test in the great American journalism experiment: How Read more →
Execs at the Pioneer Press newspaper insisted today that the decision to cut 170 jobs at its printing plant near Holman Field and contracting with the rival Star Tribune does not indicate a sale of the paper itself despite ongoing rumors that it’s only a matter of time before the Twin Cities become a one-newspaper Read more →