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Carpenter Media’s Ominous Takeover of Local News
['Peter Rubin']
Longreads
For CJR, Lois Parshley looks at Carpenter Media, which has gobbled up more than 250 papers in North America—and systematically starved many of them of crucial resources.
Unlike the paper’s former owner, EO Media, which had willingly opened its books when staff had to be cut, Carpenter refused to share its financial documents.
(“Like most privately held companies, we do not make our financials public,” Prince told me.
Elsewhere, Carpenter Media employees say that vacation and retirement benefits have been cut and that their health insurance premiums have skyrocketed.
(“Personal assets unrelated to CMG have no bearing on newsroom operations,” Prince told me.)