The Press: When Is a Failure?

For the first time, Congress is investigating the U.S. newspaper industry in depth. The impetus is a pending bill that would exempt consolidating newspapers from antitrust laws if one of the papers is "failing" financially. Already under way for two weeks, hearings by Senator Philip Hart's Antitrust and Monopoly Subcommittee promise to be controversial—and prolonged. They may well outlast this session of Congress, as witnesses deliver not only their opinions of the bill but of the industry's troubles in general.

A fairly typical consolidation precipitated the hearings. To save the failing Tucson Daily...

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