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One, three. From Wondry, I'm David Brown, and this is Business Wars Daily on this Tuesday, January 22nd.

Last week, Gannett, the owner of USA Today, received a bombshell of a letter.

It came from Digital First Media, a newspaper group backed by a huge hedge fund.

The letter announced that Digital First was making a $1.3 billion bid for the company,

which owns more than 100 daily newspapers across the country.

Hostel takeover indeed. Digital First, which owns the Denver Post, the San Jose Mercury News,

and about 150 other papers, is so well known for gutting the newsrooms of the newspapers it

buys that critics have called it a, quote, destroyer of newspapers.

Since 2012, Digital First has cut two-thirds of staff members at its 12 largest unionized papers,

according to the Wall Street Journal.

Critics say laying off journalists isn't just bad for the quality of the papers, but for democracy itself.

...