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1/ Gannet(USA TODAY)/NewMedia sealed a billion dollar merger at the end of 2019 making it the largest corporate chain of local newspapers in the country, and its controlled by a few hedge funds. 🧵
nytimes.com/2019/11/19/bus…
nytimes.com/2019/11/19/bus…
2/ The merger was facilitated by Apollo Global Mgt and the first thing they did was to plan layoffs for journalism staffs, which had already been decimated by cuts over the last two decades as the internet has rapidly replaced print news in profitability.
latimes.com/business/story…
latimes.com/business/story…
3/ New Media was owned by SoftBank, a Japanese owned investment firm with what seemed at the time to be a pretty soft spot for Trump, and an eagerness to aggressively expand it's direct foreign investments in the U.S.
niemanlab.org/2017/02/newson…
niemanlab.org/2017/02/newson…
1/x A delegation of Party and govt leadership of the Bingtuan (#Xinjiang production-construction corps) Third Command from Tumxuk (pron Tumshuq) 图木舒克市near Kashgar took a roadshow 考察招商 to Guangzhou and Beijing.
2/x They were looking for companies to collaborate with in developing the Bingtuan center in Tumxuk, part of "southern expansion" effort of Bingtuan, the state-within-a-state formerly paramilitary organization running agr development and settling Han in Xinjiang since 1949.
3/x Bingtuan is now a major agricultural and industrial holding company listed on HK stock exchange but also a socio-political organization with settlements across Xinjiang though mainly in the north. (See Oil and Water by Tom Cliff)
