The Aspen Daily News announced Monday night that Hoffmann Media Group, the media branch of a Florida-based private equity firm, has acquired Aspen’s newspaper of record.
Hoffmann Family of Companies, led by billionaire chairman and founder David Hoffmann, started purchasing a growing portfolio of local news outlets across the U.S. in 2022.
While some research indicates that newspapers owned by billionaires may produce more high-quality journalism than their competitors, critics worry about the consolidation of print media and the risk of editorial overreach.
In a press release on Tuesday morning, the Aspen Daily News assured readers that the news product will not change, and David Cook, co-owner since 2017, will stay on as publisher.
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