|"Too late," thoughts on the execution of the Edmond sun|
Third of my opinion pieces and art about the execution of The Edmond Sun.
Corporate parent, cnhi, executed it this week, "merging" it with the Norman Transcript.
The company, which bought many newspapers 20 years ago, investing Alabama teachers retirement in then profitable properties (they never considered them NEWSpapers), has since been divesting -killing-the weak ones off.
cnhi--I refuse to capitalize it, paid about $11 million for the Norman Transcript years ago--if my memory is correct. It has just cut its publication days, and laid off more people. (For comparison, consider that Gatehouse only paid about $11.5 million to buy The Oklahoman a little over a year ago, reflecting how much the value of newspapers has plunged, also a travesty since local investors never had a chance to save local, and community, control).
Thus, cnhi, burdened by debt and poor investment planning (aren't we glad that OTRS...Oklahoma Teachers, didn't invest in such a plan), is trying the cut its losses, and in the meantime, cutting communities.
Besides Edmond, cnhi has done the same to about 10 other newspapers, I've learned.
We are not alone, but there might be hope...witness what is happening in Baltimore, where people are trying to turn the legendary Baltimore Sun into a nonprofit, and thus save it. Here's the Link: Baltimore Rallies
Too late to save the Edmond Sun, but there might be alternatives. It happened in my town, Waurika, with local investors.