The Star Tribune and Wichita Eagle are noting that Gannett is attempting to purchase Knight Ridder:
Gannett Co. would take a "hard look" at any potential acquisition opportunities, including Knight Ridder Inc., a major newspaper company that has been forced by its largest shareholders to explore a sale, Gannett CEO Craig Dubow told an investor group today.
In other words, the Argus Leader's parent company is considering the purchase of the parent company of the Aberdeen American News. Thus, the Argus is looking to expand its monopoly power. One indicator of a monopoly is profitability; I'll save you from all of the economic jargon and say that basically a monopoly can be determined by examining the rate of profit of the firm. A report leaked to the Nashville Scene indicated that in 1997 (the last year that financial data was available) the Argus made an enormous 46% profit!
What's interesting is that this information is curiously missing from SD mainstream news. Since the Argus is always demanding full disclosure from the governor and attacking him, maybe they should fully disclose their efforts to take over another SD newspaper. Do the citizens of SD want the Argus to have more monopoly power, especially when the Argus is already so pro-Democrat?
HT to NVB.
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