Thursday, April 23, 2009

Laid-Off Newspaper Reporters Flock to Online Startups, Profits Still Elusive

Laid-off newspaper reporters are increasingly finding refuge on the Internet, but so far, their online startup efforts are being met with mixed results: Today, the trio of investors who teamed up with 30 journalists from the folded Rocky Mountain News to launch In Denver Times last month announced that they're backing out of the venture. Initially, the investors hoped the site would get 50,000 readers to pay subscription fees ranging from $4.99-$6.99 a month. According to Kevin Preblud, a spokesman for the investors, In Denver Times has only managed to sign up approximately 3,000 subscribers. An article on the site says that "certain members of the INDT newsroom group, led by co-founder Steve Foster and business writer David Milstead

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