Local newspapers are dying. And hedge funds are making it worse.

The state of local journalism is grim — and the hedge funds that have scooped up hundreds of newspapers over the past decade have made things even worse than they otherwise might be.

That’s the conclusion of a new report from the University of North Carolina. Titled “The Expanding News Desert,” the study finds that corporate chains controlled by private equity and hedge funds cut more deeply, shut down more papers, and demonstrate less regard for journalism’s civic mission than was the case with “the historic practices of traditional print newspaper companies.”

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