Employee‐owned dailies: The triumph of economic self interest over journalistic ideals |
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| Authors: | Fred Fedler Robert Pennington |
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| Institution: | 1. Professor in the School of Communicationat , University of Central Florida , Orlando, U.S.A. E-mail: ffedler@pegasus.cc.ucf.edu;2. Associate Professor of Economics in the College of Business Administration , University of Central Florida , Orlando, Florida, USA E-mail: robertpennington@bus.ucf.edu |
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| Abstract: | Abstract Employee‐owned dailies appear to be an ideal concept for the newspaper industry. While fulfilling journalists’ dreams of ownership, the dailies might solve a multitude of problems. This paper examines the concept, which is important because 260 dailies remain independent, and some owners want their publications to remain locally owned. Still, as the United States moves into the 21st century, few owners seem likely to turn their dailies over to their employees, and this paper analyzes the reasons for the concept's apparent failure. During the 20th century, 14 dailies were acquired by their employees, and only four survived. Many of the others were sold, often in just a few years. |
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