But that in itself isn't what worries me. This paragraph in the above article -- justifiably or not, I don't know -- is what alarms me:
The investment group [Private Capital Management of Naples, Fla., owned by Legg Mason Inc.] has also been buying shares of other newspaper companies. It is the biggest shareholder of Gannett, owner of USA Today; Tribune Co., the third-largest newspaper publisher; and the New York Times Co.
"Largest" doesn't mean majority in any of these cases; they own 19% of Knight Ridder. Still, one firm owns large chunks of four major newspaper chains. Should I be worried? Is this just standard incestuous corporate practice? Both of the above? (For the record, I work for Cox Newspapers, which is privately held.)