McClatchy goes on spending spree!

Looks like the good people of Durham are getting their newspaper back ...

McClatchy, owner of The N&O, buying Durham Herald-Sun

 

Crazy it sold for $124M (?!?) in 2004.

 

Has to rate as a positive after Paxton practically ruined that paper.

 

It was a heck of a mid-sized paper in 2004.

 

Durham is down to 35 employees total. Wow. And today the amount McClatchy paid was not even disclosed on the company website which means that it was minimal.

Paxson still owns High Point but will lose the economies of scale that come from also printing the Durham paper papers. Greensboro is owned by Warren Buffett. I wonder if Paxton tries to sell High Point to Buffett or just goes ahead and folds rather than play against the tall stack.

 

It's Paxton. And they suck.

 

How many employees did it have in 2004? What's the newsroom number now and how many were in it in 2004?

 

The Herald-Sun’s operations will be overseen by Sara Glines, president and publisher of The News & Observer I'm hopeful that the McClatchy purchase will breath new life into the paper

 

High Point also prints the Lenoir, Forest City and Monroe papers (yeah, giving them some crazy-early deadlines to deal with) ...

 

So you're saying Paxton cut the total employment there from 350 to 35? That's a 90 percent reduction of staff. Seriously???

 

That what the linked articles say.

 

I think this is the future of newspapers in the United States. Papers in contiguous markets will merge. And if Jeff Sessions is the Attorney General antitrust enforcement will be non-existent. Republicans generally think that antitrust is government meddling in the free market is a bad idea. And maybe it is. But these consolidations will kill jobs.