(context: When one firm owns most of a city's news outlets, who needs a bunch of competing newsrooms? Investigative reporting and extensive local coverage requires a costly staff. It's far cheaper to syndicate fare from headquarters than to support a diversity of local voices.)
1)Does "extensive local coverage" mean "news reports of a wide range of topics in the local area" or "the large percentage of persons reached by a medium of communication, such as television or a newspaper"?
2)I know "fare" mean "resources" here, but what does "syndicate" mean?
Pope of the Dictionary.com Forum
You mean "syndicate" refers to "sell", and in the context I do think "syndicate" should mean "sell". But I have looked up "syndicate" in many dictionaries. All of them say that "syndicate" means "buy". Why is that?
Dictionary.com shows it to mean "sell"
8. to publish simultaneously, or supply for simultaneous publication, in a number of newspapers or other periodicals in different places: Her column is syndicated in 120 papers.
9. Television. to sell (a program, series, etc.) directly to independent stations.
10. to sell shares in or offer participation in the financial sharing of (a risk venture, loan, or the like): to syndicate a racehorse among speculators; to syndicate a loan among several banks.
It works two ways, I suppose. One entity is selling a product, and others are buying it. For example, Desilu Productions owned the TV show I Love Lucy. When the first-run shows went off the air, Desilu sold the show into syndication. TV stations then had the option to buy the program to show locally.