What can those changes possibly be? Newspaperdeathwatch.com has no idea, but it’s excited anyway. “Platinum Equity would not have bought the Union-Tribune,” it exclaims, “unless the partners believed that the business was undervalued. That’s another indication that perhaps the market has hit bottom. The big question is what changes the partners believe they have to make to increase the value of the asset. That’s going to be the really interesting question.”
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Knee’s formulation strikes me as not quite on the money. Editors don’t bother wanting their readers to want those six-part series — that’s wishful thinking. They run them because they believe there are stories that deserve to be told. Some of that journalism is for show and prizes. A lot of it is out of a sense of duty.
