The Tribune Company, owner of the Los Angeles Times and Chicago Tribune, is flirting with bankruptcy because it can’t meet its debt obligations.
At the same time, The New York Times Company, which just built itself a fancy Renzo Piano skyscraper in midtown Manhattan, is currently trying to mortgage that building to deal with a credit crunch.
More and more, it seems that Andrew Sullivan is correct.
You should take a moment to savour the piece of grubby newsprint in your hands this Sunday. Because it is going to disappear far sooner than most analysts predict.
Whoops, I see that Dan and I were posting this at almost the same time. To make up for the double-post, here’s some more Sullivan, answering the question of whether one-man blogs (as they exist now) can do the work newspapers used to:
The terrifying problem is that a one-man blog cannot begin to do the necessary labour-intensive, skilled reporting that a good newspaper sponsors and pioneers. A world in which reporting becomes even more minimal and opinion gets even more vacuous and unending is not a healthy one for a democracy.
Line up the bailout. I mean it. In the interests of the common good, Treasury should offer easy money, backed by the full faith and credit of the government, in exchange for preferred shares. Once the reporters are cut loose it’s game over, fourth estate.
Do you ever read Slog?
WSJ headline reports, and its papers the Chicago Tribune & LA Times confirm, the Trib is no longer flirting, has actually fiiled. LA Times mentions that if they’d managed to sell the Cubs on time they might not have had to file Chap 11 just yet.
Most young people just watch the Daily Show anyway.
Won’t be missed. Tons of companies are going bankrupt right now.
But Will in Seattle, if the PI folds, your precious Monica will be gone. And the nice profile pic you masturbate to will be gone.
This goes against your “Urbs of America” theory as we see anything associated with centralized living going down the tubes.
Case in point — Detroit is reverting to farmland!
http://www.bloomberg.com/apps/news?pid=n…
GM’s Bust Turns Detroit Into Urban Prairie of Vacant-Lot Farms
good discussion of the problem of print news sources going under and their relationship to blogs here:
http://www.newyorker.com/reporting/2008/…
@5 – um, =(, she actually just reminds me of a cousin of mine. Maybe you need a life …
The Seattle Times is downsizing its print edition, including getting rid of the NY Times crossword puzzle. Now I have 0 reasons to buy the paper.
You can get the NY Times cheaper thru any of the universities in town, anyway, elswinger.
Gee, how surprising that no newspapers are highlighting the fact that the current Tribune Co. is much more a radio and TV company than a newspaper company.
It’s almost as if that would spoil the hand-wringing party!
Scary times. Ken Lizotte has a lot of great helps for these issues listed in his newest book “The Expert’s Edge.”
http://www.theexpertsedge.com