Hedged: How Private Investment Funds Helped Destroy American Newspapers and Undermine Democracy

The ultrawealthy largely own and guide the newspaper system in the United States. Through entities like hedge funds and private equity firms, this investor class continues to dismantle the one institution meant to give voice to average citizens in a democracy.

Margot Susca reveals the little-known history of how private investment took over the newspaper industry. Drawing on a political economy of media, Susca’s analysis uses in-depth interviews...