As I note in the Epilogue of Hell and High Water, information surfaced shortly after I began writing the book that Advance Publications’ “digital first” initiative appears to have beenvery good to Advance exec Donald Newhouse. Between September 2012—when the carnage began at the New Orleans Times-Picayune and three Newhouse-owned newspapers in Alabama—and March 2013, the value of Donald Newhouse’s and his brother’s fortunes grew an estimated $1.4 billion, to $15.4 billion, Forbes magazine reported. The Newhouse fortune has continued to climb, according to Forbes‘ latest list of the 400 Richest Americans: it now stands at an estimated $17.1 billion, $8.9 billion belonging to Si Newhouse, and $8.2 billion credited to Donald. (Poynter.org’s Andrew Beaujon reported the new rankings.)
Although I calculated that digital first has been responsible for the loss at least 1,600 full-time jobs to-date at Newhouse newspapers nationwide (and countless part-time, freelance and contractor positions), the initiative has been very good to the Brothers Newhouse.