As recently reported by WVIA, Times-Shamrock Communications has announced that it has sold its newspapers and related operations to Colorado-based MediaNews Group, which is owned by hedge fund Alden …
As recently reported by WVIA, Times-Shamrock Communications has announced that it has sold its newspapers and related operations to Colorado-based MediaNews Group, which is owned by hedge fund Alden Global Capital.
The purchase includes The Times-Tribune, The Citizens’ Voice, Standard-Speaker and Republican Herald.
The sale of Times-Shamrock’s newspapers to a private investment fund is not unique. In 2002, private investment firms owned just five percent of daily local newspapers.
By 2019, ownership by these investor-driven firms, notorious for cutting newsroom staff, grew by almost five times to 23 percent.
Though not unique, the sale of Times-Shamrock’s newspapers is significant, as it makes WVIA News one of the sole remaining independent local news organizations in our region. For people throughout northeastern and central Pennsylvania, WVIA is committed to being a trusted source for local news.
“WVIA News began in 2022 with the mission to develop a trusted source of local news that would foster deeper conversations and facilitate change in our region,” said Carla McCabe, WVIA president/CEO. “This is among the most important services WVIA provides to our region and we invite the community to support local journalism by investing in WVIA News.”
As we educate, inspire, entertain and foster community engagement, we recognize that the work we do to ensure people have access to local news and information is more important than ever. Indeed, it is vital for our community’s well-being and the health of our democracy.
On September 7, WVIA held its first-ever Journalism Summit, addressing how nonprofit, local journalism is essential for vibrant communities.
Panelist Evan Smith, senior advisor at Emerson Collective and The Texas Tribune, spoke about how “the lack of local journalism undermines our democracy,” and the fact that “the path to sustainability is a local path, not a national one.”
WVIA news director Julie Sidoni spoke about the need to reevaluate the way that our region’s stories are investigated and reported on, working “from the bottom up rather than from the top down,” and panelist Jim Brady, VP of Journalism at the Knight Foundation, mentioned the importance of “going back to a time when local news really informed communities.” The full WVIA Journalism Summit can be viewed at www.wvia.org/journalism-summit.
We are deeply grateful to all the donors, underwriters, community partners and our regional audience who all support our nonprofit journalism. It is their collective investments that make it possible for us to produce independent local news for people, not for profit.
Learn more about WVIA News and our community impact at www.wvia.org/wvia-news-impact.
WVIA educates, inspires, entertains and fosters citizenship, diverse cultures, and perspectives to nurture community. Its news department provides fact-based journalism, essential for civic awareness and community action.
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