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Another Newspaper Casualty

Next week, the slow, inexorable decline of newspapers will be marked by another datapoint when Bruce Sherman, the 61-year-old CEO of Private Capital Management, retires. For those who have followed the newspaper industry's financial travails, Sherman--who's not related to me--was the money manager who forced the merger of Knight Ridder to McClatchy back in 2006, and then, along with Morgan Stanley fund manager Hassan Elmasry, took on Arthur Sulzberger at the New York Times Company.

In the debut issue of Cond