Sloshed on 30 percent profit margins, the news media went on a drunkard's tear over the final three decades of the 20th century. Some publishers, such as Gannett, spent their loot acquiring more newspapers. The Boston Globe blew a portion of its windfall on foreign bureaus, establishing its first in the early 1970s and eventually expanding to five. Newspapers everywhere expanded regional and national bureaus, sprouted additional sections, added color printing, hired more journalists, and boosted circulation as the money bender continued.
Almost every news outlet—print or broadcast—spent heavily on investigative journalism, producing a scoop renaissance. The Johnny Deadlines dug deep to bust crooked cops, call out polluting corporations, and expose criminal justice outrages. Health care fraud, banking hijinks, payoffs, bribes, and government waste got a full press airing.
But the renaissance stalled at the new century mark as cable TV and the web encroached on the advertising monopoly the press had grown sozzled on.