Once Colored by Mike Royko, Chicago Newspapers Now Shaped by Money Men Zell and Black

Of course everyone knows the reason newspapers are circling the drain is the exodus of readers, advertisers and attention spans to the Internet.

But there's also the greed monster Wall Street has created wherein a single digit profit margin is no longer enough reason to get out of bed in the morning.

 And there's a third reason.

When you board a Chicago bus or train at rush hour today, you see 30 cell phones held up to faces--not 30 newspapers.

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