Private press ownership 'a mixed blessing'

As more newspapers in the States change hands, there's a growing debate about who makes the best kind of owner - a corporation or a private individual. The latest contribution comes from Chicago Tribune writer Phil Rosenthal who argues that private ownership is a mixed blessing and cites the movie Citizen Kane as an example of what can happen as "a young rebel who thinks it would be fun to own a newspaper" turns from an ethusiastic rebel into a demagogue. He believes a new generation of Charles Foster Kanes is emerging, naming Mark Cuban, who has bankrolled sharesleuth.com, an investigative business news website; Brian Tierney, who has just acquired the Philadelphia Daily News and Philadelphia Inquirer; and Wendy McCaw, owner of the Santa Barbara News, who has seen several staff quit in a row over alleged editorial interference. Rosenthal's message: be careful what you wish for. While agreeing that corporations chased double-digit profit margins he questions whether private ownership is any better, and concludes that the answer varies as much as each individual owner. (Via Chicago Tribune)