- “In 2009 and 2010, all the two-newspaper markets will become one-newspaper markets, and you will start to see one-newspaper markets become no-newspaper markets,” said Mike Simonton, a senior director at Fitch Ratings, who analyzes the industry.
- Web sites like Craigslist have been to classified ads what the internal combustion engine was to horse-drawn buggies.
- The Tribune Company, for instance, owner of The Chicago Tribune, The Los Angeles Times and other papers, filed for bankruptcy in December, largely because of its debt load. The reality is that even though the economic climate is hard for newspapers, without their debt payments the publishers in bankruptcy would still make money, as do most newspapers around the country.
- But no one yet has unlocked the puzzle of supporting a large newsroom purely on digital revenue, a fact that may presage an era of news organizations that are smaller, weaker and less able to fulfill their traditional function as the nation’s watchdog.
--John
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