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Letter to the editor: 'Vulture capitalist' seeking Gazette is bad for news
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Letter to the editor: 'Vulture capitalist' seeking Gazette is bad for news

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If you think our local newspaper is expensive now, wait a few weeks. In the Nov. 23 Billings Gazette a small article is headlined “Alden Capital offers to buy Lee Enterprises." Alden Capital calls itself a venture capitalist; the rest of the news world calls them vulture capitalists. Why? Alden has a reputation of coming in on a tarnished white horse proclaiming to save your newspaper organization and then guts the staff, sells off the assets, produces an inferior product and charges more to its customers. This philosophy was used in Vietnam; remember “We destroyed the village in order to save it”?

Today on the internet, CNN has a more detailed article titled Hedge fund known for cutting journalism jobs is seeking to buy more newspapers, i.e. Lee Enterprises, a chain of daily newspapers serving 77 markets including the St Louis Post Dispatch, The Buffalo News in New York, the Roanoke Times in Virginia and our group here in Montana. Need more information? Read the Atlantic Magazine’s article titled "A Secretive Hedge Fund is Gutting Newsrooms" by McKay Coppins dated Oct. 14. I am a subscriber to The Gazette and prefer it to some of the click bait pieces found on the internet. If you think today’s TV, radio and pundit spewing news is unsatisfactory, you should be very concerned about how our future information is gathered. Remember the adage “I read and I know things."

Dave Swoboda

Billings

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