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it wasn’t supposed to be this tough. A little less than a decade ago, as it had grow to be obvious that operating a newspaper was no longer a license to print money, a string of profiles in different publications—Forbes, the Monetary Occasions, The New York Times— looked to St. Petersburg and asked whether it’d provide salvation. The Occasions was expected to show a profit, but its owner was the nonprofit Poynter Institute, not a publicly traded firm studybay with rapacious shareholders demanding ever-increased margins. Poynter and the Occasions are related by a tightly knit, even overlapping company construction. Directors of the Times Publishing Company—the entity that straight owns the Instances, the website , and a few affiliated publications—are nominated by the paper’s CEO, who is also the board chairman, and all the regular administrators are employed by the Instances or Poynter. The CEO is also the board chairman at Poynter. The paper, in effect, owns itself.
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