Buying Your Local Newspaper Out From a Chain: Attractive in Theory, Tougher in Practice

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As hedge funds tighten their ownership grip on newspaper chains, the alternative of local ownership, perhaps including a pivot to nonprofit status, is often talked up as a hot option.

Proceed with caution. Revisiting a dozen such sales over the last decade reinforced my sense that chains are reluctant to part with any paper they own. A formidable set of new challenges awaits any local buyer who does pry a property loose.

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