Retired journalists put $40K of own money into documenting the real changing story of America's best newspapers
When former UPI CEO Paul Steinle finished up a second career as an associate provost and journalism professor he wasn't ready to flat-out retire, and he was fascinated to understand hand the story of how America's best daily newspapers are changing. So he and his wife -- a one-time human-resources officer for the Los Angeles Times -- left their home near Southern Oregon University, took $40,000 of their own money, and went on the road. Their goal: Interview key editors and executives of 50 of the best newspapers in the country -- one in each state.
What they found: Some of them are now reporting profit margins averaging 10% to 15% a year despite devastating drops in advertising revenue over the last five years. they are transforming, not going out of business, say Steinle and Brown.
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