The newspaper business has struggled for most of the 21st century as the rise of digital media has cut deeply into the revenue once generated by print advertising and newsstand sales. At the same time, Facebook and Google have grabbed a huge chunk of digital ad revenue, effectively blocking the industry from one of its traditional sources of cash.Roughly a quarter of the newspapers in the United States, most of them weeklies, were shut down between 2004 and 2019, while about 50 percent of newspaper jobs were eliminated. Hedge funds, however, see newspapers as a potential bargain. With a strict management style …
