The newspapers of Minneapolis and St. Paul figure into the analysis:
But consolidation can't proceed with the current regulatory strictures. The Twin Cities of Minneapolis and St. Paul have two newspapers -- The Star Tribune and The Pioneer Press -- but both are seriously endangered. History has demonstrated that another joint operating agreement is probably not the answer.
Of course, Carr also offers the logical counterpoint: this sounds a lot like collusion and could violate the anti-trust act. I'd love for a regulatory law specialist to ring in with a legal opinion.