“Stripped for Parts”: Secretive Hedge Fund Accused of Plundering U.S. Newspapers #DemocracyNow!

The new documentary Stripped for Parts: American Journalism on the Brink looks at how hedge funds have gutted newsrooms across the country. The hedge fund strategy of “distressed asset investing” involves buying up industries that are struggling to turn a profit, and then selling off their assets and laying off workers. “You have people who are interested solely in making money off of the newspapers and not in serving the community and doing good journalism,” says director Rick Goldsmith. “This is happening all over the country, and more than half the daily newspapers are either owned or controlled by hedge funds.”

Stripped for Parts: American Journalism on the Brink is now streaming and airing on PBS.

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