By Heidi N. Moore
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In the past few weeks, the newspaper industry has endured its own version of what happened to Wall Street after the fall of Lehman Brothers. The Rocky Mountain News? Gone. Tribune Co., owner of the Los Angeles Times and the Chicago Tribune? Filed for bankruptcy. The Seattle Post-Intelligencer? Now online only.
And just Wednesday, the San Diego Union-Tribune was sold to a private-equity firm.
Deal Journal spoke with Jonathan Knee, an investment banker who advised on the San Diego deal and who has covered the media industry for over 15 years. Knee is the director of the media program at the Columbia Business School and the co-author of “Curse of the Mogul: What’s Wrong with the World’s Leading Media Companies?”, which is to be published by Portfolio Books this year.