When The Denver Post published a set of articles on April 6 criticizing its owner and calling for action, the staff instigated an audacious and risky move, but a move that has become wholly necessary for the survival of The Post and other papers like it. Organized by The Post’s editorial page editor Chuck Plunkett, the criticism labeled its owner, hedge fund group Alden Global Capital, “vulture capitalists” for their role in cutting newsroom staff and resources while still pulling in profits from the paper. New ownership was presented as necessary for the paper’s continuation. The urgency with which this plea for survival has been explained must rally all Coloradans—The Denver Post, a critical newspaper for not just Denver but for Colorado, must not disappear from our state.
Alden Global Capital took control of The Post in 2010 and runs the paper through its subsidiary Digital First Media. Under Digital First, The Post has not only had to move out of its downtown building across the street from the capitol, it has also, more distressingly, had to lay off enormous numbers of employees. By July, 30 additional employees are expected to be cut from a newsroom staff that has fallen to fewer than 100 people. This focus on profit over newsroom is one of the primary reasons for this revolt. A newsroom staffed with a large number of high-quality journalists is a powerful force for fact and justice in a city and state, and to reduce staff is to weaken this ability.
Alden Global Capital’s errors do not stop at just newsroom layoffs. A lawsuit from a shareholder claims that the group has used its newspaper funds to invest in insider deals and risky speculative investments, all while cutting resources to the number of newspapers it holds. The reason for The Post staff’s pleas are clear—such a group should not be permitted to shrink the quality and staff of an esteemed newspaper into oblivion while increasing profits for the sake of questionable investment dealings.
In the days since the articles’ publication, as well as in-depth coverage in The New York Times, some people in Colorado have indeed rallied, as we all should. The progressive group Together for Colorado Springs has begun contacting potential investors to take over ownership of the newspaper, a similar effort to that of The Los Angeles Times, which turned over from corporate ownership to a wealthy local patron in February. Though it is unclear how willing Alden may be to sell The Post, actively and quickly seeking out new ownership is essential.
In an interview with The New York Times, the chairman of Together for Colorado Springs made the key connection between The Post’s importance to Denver but also to the entire state. The value of this point cannot be underestimated—local news in a growing city like Denver keeps its citizens informed and connected, and it also helps bridge what is often a divide between metropolitan residents and residents beyond the metro area. What is more, ensuring that local news sources can thrive means that more diverse and possibly more accurate local accounts are being represented in American media as a whole. Just as major national newspapers are vital to an informed public, so are local newspapers vital in understanding the nuance and regional differences in that public.
The way forward for The Denver Post must include a change of ownership, as the editorial staff has made known. Alden Global Capital and its Digital First Media have failed in giving this newsroom the staff and resources it requires. The Post not only needs a new owner, it needs support from the people of Denver, the people of Colorado and people across the nation who understand the great value of local newspapers. Writing in The New York Times on what happened to be the same day The Post’s editorial was published, former Secretary of State Madeleine Albright said, “A free press… is not the enemy of the American people; it is the protector of the American people.” This includes local newspapers like The Denver Post—its continued existence in our city and nation matters to us all.
