alt Hacker News> newspapers were a natural monopoly
What on earth are you talking about? Most major cities have had multiple papers in cutthroat competition with each other for decades. If the New York Times got a story wrong, the Wall Street Journal would happily take the opportunity to correct them and vice versa. In smaller cities with one big paper (like Baltimore with The Sun), the local tabloids (like The City Paper) would relish any opportunity to embarrass the paper of record if they got something wrong.
The era of monopolistic journalism is the new thing, not the old thing. The corporatism GP is referring to is conglomerates like Sinclair and Tribune Online Content (Tronc) buying up tons of local papers and broadcast stations and “cutting costs” by shutting down things like investigative reporting.
Major cities had more than one - the rest did not. The major cities had 2-3, so a duopoly. They all minted money for decades before the internet.
The local newspapers in question have terrible economics now because of the internet. The competition has come from the internet. Sinclair is dying, because they have bought a bunch of dying/dead assets. Tronc is the same. There was nothing to do here, the newspaper business as it worked previously is dead with a few exceptions.
The business is dead. The people involved aren't getting paid well, the owners are losing money, it's all bad when economics go bad.