Some of the saddest stories in the decline of local journalism have come after Alden descends on a town. If Wyss and Bainum are successful with their $680 million offer — which tops a $630 million one from Alden — they ought to know a few things about owning a newspaper. So should the local investors to whom they hope to sell Tribune papers including the Orlando Sentinel and Allentown Morning Call. I’ve often wondered if one of the world’s richest physicians, Patrick Soon-Shiong, has regretted his decision to buy the Los Angeles Times for $500 million in 2018. Because here’s my final piece of advice to the would-be owners: By all means, go ahead and try.

Source: Washington Post April 17, 2021 12:46 UTC