Peter Knox

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The only solution, to the owners’ minds, was to keep making each newsroom cheaper to run through layoffs and attrition. That meant less news—researchers found that coverage of local politics dropped by more than 56 percent between 1999 and 2017—which meant fewer reasons for people to subscribe. Each quarter, when subscriber revenue dropped, Gannett would simply lay off more people, starting the cycle anew.
Bad Company: Private Equity and the Death of the American Dream
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