Project Reference
Project Activities
News Reports
Academic and
Professional Views: Publishing
Academic and
Professional Views: Governance
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Project Activities
News Reports
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November 15, 2024, Wall
Street Journal: "Investor Building Newspaper Chain Eyes Lee
Enterprises, DallasNews"
[Picking up on business of news publishing where Berkshire Hathaway
left off]
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May 21, 2021, New York Times: "New Owner Set for Chicago Tribune,
Daily News and Baltimore Sun"; see also
May 21, 2021, The Morning Call
(Allentown, PA): "Hedge fund’s purchase of The Morning Call, other Tribune
newspapers approved by shareholders" [Philanthropists fail to block
sale of news publisher to controversial investment fund]
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May 6, 2021, Washington Post: "In a hedge fund’s bid for Tribune’s
newspapers, a hidden risk lurks in the fine print" [Questions raised
about funding of proposed publisher buyout]
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April 20, 2021, New York Post: "Time running out for Stewart
Bainum’s bid as Tribune sets May 21 vote" [Searching for charitable
contributions to outbid investors for control of news publisher]
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April 18, 2021, Wall Street Journal: "Hotel Magnate Seeks Help to
Save Tribune Publishing Bid After Partner’s Withdrawal" [Second
thoughts about trophy value of a newspaper]
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April 6, 2021, New York Post: "Due diligence underway for all of
Tribune, as Hartford group forms to buy Courant" [Progress of
efforts to organize buyers of local news publishers]
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April 6, 2021, Bloomberg: "Tribune Journalists Are Close To an
Improbable Win in Quest for New Owners" [Community journalists
advocate cause of community news]
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March 27, 2021, The Morning Call (Allentown, PA): "Morning Call
mystery bidder revealed: A Manhattan investor who sees opportunity in
Lehigh Valley news"; see also reference to report:
March 29,
2021, Nieman Foundation at Harvard [Example of investor interests in supporting
adaptations of news publishers]
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February 27, 2021, New York Times: "How Marty Baron and Jeff Bezos
Remade The Washington Post" [Advocate
of FCS (Fundamental Common Sense) applies it to another transitional
business]
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January 5, 2021, New York Post: "Hedge fund’s bid to buy rest of
Tribune Publishing met with resistance" [Opportunistic
board member focuses attention on improbable transaction while negotiating
questionable alternatives]
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July 4, 2020, New York Times: "Hedge Fund’s Run at Tribune
Publishing ends With a New Board Seat"
[Independence Day focus on evolving views of corporate "purpose"]
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May 4, 2019, Wall Street Journal: "In News Industry, a Stark Divide
Between Haves and Have-Nots"
[Observations of investments in the provision of decision-making
information]
Academic and Professional Views:
Publishing
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July 26, 2021, Poynter:
"More chain-owned news organizations are returning to local ownership"
[Progress of community news publishers adapting to evolving market
conditions]
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July 14, 2021, Penelope Muse Abernathy of Northwestern University Medill
School of Journalism, interview published by Columbia Journalism Review:
"Measuring the local news landscape: A Q&A with Penny Abernathy"
[Practical market analysis for news publishers]
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June 17, 2021, NiemanLab: "Ken Doctor: Six months after launching a
local news company (in an Alden market), here’s what I’ve learned"
[Leading researcher tests news publishing theories in real venture]
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April 10, 2021, New York Times: "Inside the Fight for the Future of
The Wall Street Journal" [Alternative strategies for sustainable
news publishing]
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April 10, 2021, New York Times: "Why Buy a Yacht When You Can Buy a
Newspaper?" [Alternative returns on investment in news publishers]
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December 8,
2020, Michael Barthel, Amy Mitchell, Dorene Asare-Marfo, Courtney Kennedy
and Kirsten Worden of Pew Research Center: "Measuring News Consumption in
a Digital Era | As news outlets morph and multiply, both surveys and
passive data collection tools face challenges" (9 pages, 2.1 MB, in PDF format)
[Review of methods for analyzing consumer demand for news]
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September
18, 2020, Steven Waldman of the Center for Journalism & Liberty (a part of
the Open Markets Institute): "A Replanting Strategy" (41 pages, 727
KB, in PDF format)
[Proposed model of local news publishing supported by "hybrid"
philanthropic and investor funding]
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August
2020, Penelope Muse Abernathy, Knight Chair in Journalism, Hussman School
of Journalism and Media at the University of North Carolina at Chapel
Hill, published by the Center for Innovation and Sustainability in
Local Media with funding from the John S. and James L. Knight
Foundation and the University of North Carolina at Chapel Hill: "News Deserts and Ghost
Newspapers: Will Local News Survive?" (121 pages, 3.1 MB, in PDF format)
[Definitive analysis of United States local and community news publishers]
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November 10, 2017,
Gretchen Morgenson of The New York Times | Fair Game: "After 20
Years of Financial Turmoil, a Columnist’s Last Shot"
[Explaining the requirements of a fair marketplace]
Academic and Professional Views:
Governance
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September 1, 2021, NiemanLab: "The 'shadow bank' that — with the
help of public pension funds — is aiding the destruction of local news"
[Reputation risk associated with investing in funds supporting
controversial business practices]
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February 17, 2021, Moody's Investor Services: "Request for Comment
| General Principles for Assessing Environmental, Social and Governance
Risks: Proposed Methodology Update – Enterprises Appendices" (17
pages, 851 KB, in PDF format)
[Disciplined analysis of "ESG" considerations on reliability of enterprise
ability to generate sustainable returns from use of capital]
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February 1, 2021, Corporate Secretary Magazine: "Companies face
proposals on employee representation" [ESG advocates considering
German-Scandinavian model of employee representation on boards]
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December 15, 2020, Leo E. Strine, Jr., of Columbia Law School, Harvard
Law School, University of Pennsylvania Law School and Wachtell Lipton
Rosen & Katz: "Restoration: The Role Stakeholder Governance Must Play in
Recreating a Fair and Sustainable American Economy" (71
pages, 987 KB, in PDF format);
see subsequently published January
7, 2021, Leo E. Strine of Wachtell Lipton Rosen & Katz and Harvard Law
School posting in The Harvard Law School Forum on Corporate
Governance: "Restoration: The Role Stakeholder Governance Must Play
in Recreating a Fair and Sustainable American Economy"
[Authoritative view of new year's opportunity to restore foundations of
producing goods and services]; see also
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September 30, 2020, Jason Zweig of Wall Street Journal interview of
previous recipients of lifetime achievement awards Gretchen Morgenson,
NBC and Allan Sloan, Washington Post upon his own receipt of award by
New York Financial Writers' Association: "The 44th Elliott V. Bell Award
Ceremony/Battling Burnout Discussion" [Financial reporting experts'
views of providing essential information to decision-makers]
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September 25, 2020, Matt Orsagh of the CFA Institute: "Short-Termism
Revisited" [Professional analysts update study of "short-termism"
impairment of long term benefits]
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August 7, 2020 (Working Draft), Lucian A. Bebchuk and Roberto Tallarita
of Harvard Law School, for publication in December 2020 Cornell Law
Review: "The Illusory Promise of Stakeholder Governance" (68
pages, 658 KB, in PDF format)
[Analysis concluding new "stakeholder" corporate governance concept
would not benefit stakeholders]; see
also related August
6, 2020, Lucian Bebchuk and Roberto Tallarita published in The Wall
Street Journal: "‘Stakeholder’ Capitalism Seems Mostly for Show"
[Academic analysis discourages reliance on "stakeholder" governance to
support stakeholder interests]; see also subsequent response to issues
raised by analysis:
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July 1, 2020 TheCorporateCounsel.net: "Tangible 'Corporate
Purpose': Investor Views"
[Corporate management view of "corporate purpose" and "stakeholder"
debates]
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