Thursday, April 16, 2009

Failing to push paper in digital age

There are two epic stories of why AbitibiBowater Inc., the world's largest newsprint producer, was driven into bankruptcy protection Thursday.

There is the short-term tale of teams of lawyers and advisers working around the clock over the past week in Montreal and New York, trying to get an out-of-court restructuring of this Canadian behemoth with roots in the early 19th century.

That effort failed, as the global credit crunch claimed yet another victim.

But the broader story is a powerful structural change in how people receive information in an Internet age.

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