Will I love Paper Losses?

The big Detroit newspaper market eventually narrowed down to two newspapers--the News and Free Press--neither of which could knock out the other while neither could turn a profit in a competitive market. This is the story of the struggle of the two greatest newspaper chains--Gannett and Knight-Ridder--to forge a “joint operating agreement” allowing them to merge production and business efforts while retaining separate newsrooms. Few participants cared much about editorial standards as the rush for huge profits drove the process. In the end, it all came a cropper. It’s a sordid tale in many ways but a riveting one.