Grin and bear it: Bankers are now newspaper bosses

I noted three weeks ago that JP Morgan Chase had become the second largest newspaper owner in the States. Now it has bought a 10.2% stake in America's largest publisher, Gannett (owner of the British Newsquest chain).

By Roy Greenslade, Guardian
That makes the bank Gannett's biggest shareholder, and when the market noted the acquisition the company's shares were boosted by 7% in rapid trading.
What does JP Morgan know that others don't? It has increased its holdings in slumping newspapers during a period when many publishers can see no real upturn in revenue. Source: Crains

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