It is quite clear that local print news, and Lee Enterprises in particular, is not the financial powerhouse it once was. Loaded with huge volumes of debt and continuing to lose money each year, there is a real possibility that the Daily Star could no longer exist. This is despite growing digital edition revenue, showing that communities like Tucson still rely on local journalism.
The recent announcement of Billionaire David Hoffmann taking a controlling stake in Lee Enterprises will provide much-needed financial relief to the company. I am not a fan of another billionaire taking control of an important media organization, and I sincerely hope he does not exert too much influence on the content of published articles. However, without some major organizational shakeup Lee Enterprises’ newspapers would likely see more journalist layoffs or even bankruptcy. Therefore, I am cautiously optimistic on the future of the Daily Star with him at the helm.
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Sean Ginn
North side
Disclaimer: As submitted to the Arizona Daily Star.
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