When Clinton D. McKinnon, a successful San Diego publisher and businessman, bought the debt-ridden Los Angeles Daily News a year ago, he cheerily admitted that his main objective was to "push the undertaker away from the door." The task was harder than McKinnon realized. In Los Angeles, where five dailies battle for circulation, former Democratic Congressman McKinnon hoped to win readers with the only paper that "reflected the policies of the Democratic Party." But this week the undertaker came in the door.
Unable to pay $90,000 in wages to his 600 employees, McKinnon shut down the 31-year-old News. He sold its name...
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