I covered the Canadian newspaper industry for Presstime magazine, and saw the mess the business was in way back in the late 1990s and early aughts. It wasn’t funny back then, either, with Conrad and David Radler serving jail time for their business practices.
You would think those days would have rubbed off on the profession, but no dice. They are still in perpetual shock that outfits such as GateHouse Media own 10% of all US newspapers, or that Alden Global Capital sucks the dregs out of newspaper assets dry.
These games are nothing new. I saw them happen twenty years ago, and they are still happening today: the difference it is a less profitable game than it was before.
It is an unteachable profession that keeps ignoring the same dangers, but then expects people to find them credible when they go after dangers they deem worthy of their attention…