local newspapers have always had a low/no margin vanity project aspect to the industry. Best example today is the Washington post
there was Some money to be made when it was the only form of carriage of substance in each locality, but that whole business model has been destroyed and there isn’t enough revenue to support the staff necessary to generate real content and return margin to a non local corporate group
it’s a dying industry, just like Kodak found itself in
unless you have a wealthy benefactor underwriting the whole thing, there’s no business case