The old Anchorage Times, under Bob Atwood, used to print oil company press releases, and pass them off a journalism. They were fair and balanced, just like Faux News is fair and balanced. 

When McClatchy bought the Anchorage Daily News, and started putting some serious money into the operation, Atwood continued to publish the same mediocre newspaper. He fell behind in circulation and never recovered.

Bill Allen (when he wasn't bribing politicians), tried to revive the Times, but hired 2nd rate writers, like Paul Jenkins. It failed, and the Daily News bought them out. 

While this was going down, the whole economic model for newspapers was upended by the internet. Craigslist  killed classified ads, and people are unwilling to pay for online content, when so much of it is free. Internet ads don't pay the bills. The future looks grim for the newspaper industry.