And historically, across the country, what that has led to is significant loss of capacity, firing of reporters and editorial writers, a lot of more canned news, closing of papers. Something like 25% of the newspapers in the country have been closed since like 2005. So it's a really significant problem. This deal, instead of selling to the hedge fund or to the chain, he sold to a nonprofit corporation dedicated to the preservation of local journalism. (45:38–45:46)
CLAIM
Asserts that approximately 25% of U.S. newspapers have closed since 2005.
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