I wonder if, millions of years ago, the last dinosaur looked around, realized they were alone, and, thought “Uh-Oh!”
Newspapers – especially daily newspapers – have struggled for many years. Instead of family empires with printer’s ink in their blood, control shifted to anonymous ‘ownership groups’ or billionaires wanting new toys. (A Washington friend said they hoped that Jeff Bezos buying the Washington Post would result in free Amazon Prime membership with home delivery subscriptions.)
So it comes as no surprise that in recent days two major ownership changes have hit Missouri papers…
Scott Vaughn of the Missouri Times and several political intrigues bought the Jefferson City News Tribune and its sister publications in Fulton and California, Missouri.
David Hoffman, a guy with fingers in everything from real estate to ice cream, leads the ownership group buying the St. Louis Post Dispatch.
Of course, businesses change hands every day. Some sell as they climb to greater profits, others sell as they decline.
With newspapers the sales always come on the downslope. Take the Jefferson City paper, please: “Walter Hussman Jr., publisher and chairman of WEHCO Media, said at a press conference Monday that the papers have not been profitable since his company purchased them.” That was in 2008. New owner with checkered political past takes over newspaper serving Missouri’s capital • Missouri Independent
As I’ve noted, the Post shed about 90% of its print run in the past couple of decades, now selling fewer than 25,000 copies a day. Still, Hoffman’s group plans to issues millions of more shares of stock for the new ownership group (he’s 70% of the money) to finance the deal. (I don’t think I’ll be buying that stock.) [Post-Dispatch, 12/31/25]
Faughn, as noted in that MO Independent article, lost his journalism credibility while acting as an agent for former Governor Eric Greitens (including funneling payoff money) while his paper “covered” the Capitol without acknowledging theirs ties to the governor. Now he will control the Capitol City’s daily paper, one of the very few organizations sharing the happening of state government with the populace. He is not just a Republican owner, he is an activist with a history of breaking the rules to advance his causes. Expect the News Tribune to be an unflinching friend of the used car selling governor and his schemes.
Hoffman gets a lot of press for what he wants to do. Remember a few years back when he wanted to make the wine growing region in southern St. Charles County a major tourist destination? Yes, he did buy Oberweis Dairy and some other businesses. And, he already owns the Washington Missourian – a great weekly paper with an extraordinary printing plant. He is a generally an effective business person. The question is how will he involve himself in the daily operation of a paper proud of its collection of Pulitzer Prizes?
I hope they do well and promote professional journalism.
Just remember what happened to the dinosaurs.
Glenn Koenen