Major Newspapers Dropping Like Flies
As we slowly watch the Indianapolis Star turn into a pamphlet, the future looks bleak as newspapers around the nation face up to the changing habits of the reading public.
Today, Colorado’s oldest newspaper, The Rocky Mountain News, shut down, 55 days short of its 150th birthday. The first edition was produced on the banks of Cherry Creek in Denver on April 23, 1859.
Owner E.W. Scripps Company reported yesterday that the newspaper lost $16 million last year and the company was unable to find a buyer. The News is the latest, and largest, newspaper to fail as America slips deeper into a recession. Several others are lining up to face the inevitable.
Shockingly, earlier this week, The San Francisco Chronicle joined the lengthening list of imperiled newspapers as its owner, the Hearst Corporation, warned it may cease publication if it can’t reduce expenses dramatically within the next few weeks. It’s Northern California’s largest newspaper and began production 144 years ago.
With losses of more than $50 million last year, the Chronicle is off to an even worse start this year.
Hearst also has put Seattle’s oldest newspaper, the Post-Intelligencer, up for sale in January and said at that time that if it can’t find a buyer in the next 60 days the paper would likely close or continue to exist only online. That deadline is upon us.
Four owners of 33 U.S. daily newspapers have sought Chapter 11 bankruptcy protection in the past 2 1/2 months.
The relevance of newspapers in our lives is no longer as people turn to other media for their news. And, as they continue to cut staff and costs and become smaller tabloid-sized papers with little enterprise reporting and pages of obituaries and police and fire runs, they create their own self-fulfillng prophecy.








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