Faced with the competition of the big-city press and other news media, suburban dailies tend to be lackluster compendia of wire-service copy, plumped out with movie schedules and strictly local news. Such papers may rank low on journalism's merit scale, but they often can be immensely profitable businesses. One lucrative example is the Macy chain in New York State's Westchester and Rockland Counties, where the nine Macy papers have been making large profits for 40 years. Last week this highly successful suburban group was sold to an even more profitable smalltown...
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