Financial firms control half of US daily newspapers as pandemic worsens industry’s plight
As the coronavirus pandemic seems to ease in the United States, few businesses may emerge so transformed as local and regional newspapers.
More than 70 local newsrooms have closed over the past 15 months, with hundreds of media jobs lost, as the already difficult financial conditions in the industry intensified during the crisis. By some estimates, a staggering 2,100 local newspapers, or one in four, have closed in the US since 2005.
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