Romenesko

Boston Globe
That's what Duke economist James Hamilton tells Drake Bennett. More quotes from his piece:
* "Newspapers are coming to the point where they have long ago cut off the flesh, the blood, and the muscle and now they're into the bone," says former Mercury News publisher Jay Harris.
* "I don't think there's any guarantee that a local owner is better than a corporate owner," says former LAT editor Dean Baquet. Anyone who thinks so, he says, "is not looking at the history of what some local owners have done to newspapers."
* "The old press barons knew what they were doing. This wasn't amateur hour, this wasn't something you did after you were already a success," says historian David Nasaw.