In most cases, publications with no large holding (parent company) simply won't have the resources to deal with sustained losses.
Over the last few weeks, the newspaper industry has entered a new period of decline. The parent of the papers in Philadelphia declared bankruptcy as did the Journal Register chain. The Rocky Mountain News closed and the Seattle Post Intelligencer, owned by Hearst, will almost certainly close or only publish online. Hearst has said it will also close The San Francisco Chronicle if it cannot make massive cuts at the paper. The most recent rumor is that the company will fire half of the editorial staff. That action still may not be enough to make the property profitable.
Based on this analysis, it is possible that eight of the fifty largest daily newspapers in the United States could cease publication in the next eighteen months. (Read: "The Race for a Better Read") |
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