Native information has lengthy equipped an important civic bond. Are we able to manage to pay for to let it disappear?






The ones devoted readers shape a cast subscription base, producing earnings that the Gazette has augmented with periodic forte publications about weddings, actual property, and tourism. Plus, being on an island 7 miles off the coast is helping stay down pageant, Seagrave says. It additionally is helping that the Gazette has strong homeowners: In 2010 it was once bought via billionaire businessman and Winery resident Jerome Kohlberg, Jr. (the primary “Ok” of funding large KK&R). It’s now owned via a nonprofit company chaired via Kohlberg’s daughter Pamela. Kohlberg, who died in 2015, additionally purchased the Gazette‘s development and donated it to the Martha’s Winery Ancient Consider, conserving and protective it from project capital companies that may covet it as actual property. (The typical house worth at the Winery is now round $2 million.)

When she attended the Kennedy Faculty, Seagrave wasn’t making plans to paintings within the trade aspect of publishing. A reporter and editor for the Related Press, she concept some extent from HKS would make her a greater political journalist. “However on the Kennedy Faculty, you realize, they let you know to play for your weaknesses,” she says. “And my weaknesses truly had been the numbers. So I took a number of monetary control categories.” She sooner or later returned to the AP in 2003 as a vice chairman of product building and leader earnings officer, simply in time to look web giants like Google and Fb starting to bleed information organizations of each their consumers and their advertisers.

“It was once the break of day of the generation firms truly consuming our lunch,” she says. “A large number of my occupation on the AP was once seeking to get licensing greenbacks out of businesses that had been successfully, personally, stealing our content material. And for some time it labored: We were given Google to surrender $30 million 12 months. Then they were given their legal professionals in combination and mentioned, ‘No, we’ve got fair-use rights to this content material.’ That’s one of the most causes I in spite of everything left—it was once so irritating, and lets no longer get our level throughout.”

That pattern endured. In step with Gibbs, newspapers had been as soon as a $100 billion trade in The us, however that determine has gotten smaller to only $17 billion lately. “You don’t bring to mind Amazon as an advertiser, however Amazon on my own makes extra money in promoting than each newspaper on the earth put in combination,” she says. “Google’s promoting trade is now north of $200 billion.”

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