New Jersey

The death of classified advertising because of Craigslist and other internet sites really hurt them. Many big department stores went out of business, which drastically cut down on the number of Sunday advertising inserts. Amazon killed a lot of those businesses as well.

The Newhouse family that owns Advance Publications and Nj.com owned the Star-Ledger and numerous other publications. They are extremely wealthy. Among other things they own Conde Nast which publishes Vogue, Vanity Fair, GQ, Wired and the New Yorker.

Wikipedia has this:

Advance Publications, Inc. is a privately held American media company owned by the families of Donald Newhouse and Samuel Irving Newhouse Jr., the sons of company founder Samuel Irving Newhouse Sr. It owns publishing-related companies including American City Business Journals, MLive Media Group, and Condé Nast, and is a major shareholder in Charter Communications (13% ownership), Reddit (30% ownership), and Warner Bros. Discovery (8% ownership).