Newsonomics: How Will the Pandemic Panic Reshape the Local News Industry?

McClatchy’s bankruptcy is barreling to a conclusion. Tribune’s quietly trimming its board to prepare for a merger. Google and Facebook face unprecedented calls to pay up on at least three continents. And all the while—wait for it—Alden Global Capital’s Heath Freeman is joining the fray, demanding money.

The COVID-19 crisis both threatens and promises to reshuffle business and societal thinking about the role of local news in the 2020s. Call it pandemic panic. The crisis has clearly accelerated the known drivers of industry change worldwide. That could well lead to more consolidation of newspapers and more hedge fund and private equity control.

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