Saturday, December 6, 2008

Red Ink Will Spur Change at Newspapers

One thing is certain about the newspaper industry: It is going to look very different two years from now.

The recession will fast-forward a restructuring that had to happen because of the decline caused by the switching of ad dollars to the Internet. But without a sharp economic downturn it might have taken many years.

More than 20% of the newspaper industry -- measured by daily circulation -- is currently in financial distress. Publishers including Tribune, McClatchy, Lee Enterprises, Journal-Register, MediaNews Group and Freedom Communications are carrying heavy loads of debt given their fast-shrinking revenues.


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