For sale: major daily newspapers…cheap!

By Len Gutman on December 8th, 2008 In Media

chicagotribI’m not one to pile on, but things are getting worse by the day for the newspaper industry. Today, the Tribune Company filed for bankruptcy protection. The Associated Press article didn’t bury the lead; the first paragraph states the Tribune Company is “the first major newspaper publisher to seek bankruptcy protection since the Internet began siphoning readers from traditional outlets.”

The Tribune Company owns the Chicago Cubs baseball franchise, as well as the Los Angeles Times, Chicago Tribune, The Sun of Baltimore, The Hartford (Conn.) Courant, six other daily newspapers and 23 television stations. The company no longer owns our own failing East Valley Tribune — that dubious honor goes to Freedom Communications Inc. (my bad, the great media historian “TS” let me know know the Tribune Company never owned the East Valley Tribune.)

This news comes on the heels of yesterday’s news that the Rocky Mountain News could be shut down if a buyer is not found by mid-January. Several other sizable dailies, including The San Diego Union-Tribune and Austin American-Statesman, have been on the market without finding a buyer for months.

When the Los Angeles Times and the Chicago Tribune are in trouble, I think we’ve heard the death rattle. By the way, methinks it’s not lost on the staffers at the Tribune that the Cubs just paid pitcher Ryan Dempster $52 million for four years.

For sale: major daily newspapers…cheap!

Comments

TS Says:
December 8th, 2008 at 3:22 pm

“The company no longer owns our own failing East Valley Tribune …”??

The Tribune Co. has never had any association with the East Valley Tribune.

Leave the news alerts to the professionals, Len.

Pat Elliott Says:
December 8th, 2008 at 6:00 pm

And there have also been layoffs in recent days at major national magazines and NBC news.

Locally, at the Scottsdale Job Network, we’ve gotten an influx of new Valley residents, including print reporters, columnists, corporate PR directors and others, who’ve gotten buyouts from their employers. So, they join the swelling SJN membership list that’s already full of local media and PR people.

If anyone has some good ideas on ways to promote Valley job openings that could help these folks, please share them. HINT HINT :-)

jakers Says:
December 9th, 2008 at 10:12 am

Does anyone else see the irony in TS last sentence.

There won’t be many ‘professionals’ left soon.

Linda VandeVrede Says:
December 9th, 2008 at 10:45 am

Yikes! This is all we need – more unemployed folks joining the ranks of PR professionals seeking employment. Is it a good time to be in PR? I’m not sure.

francine hardaway Says:
December 9th, 2008 at 12:21 pm

http://blog.stealthmode.com/2008/12/newspapers-arent-dying-advertising-models-are.html

I refer you to my blog piece today. Quit whining and just adopt the new tools:-)

Eric Says:
January 22nd, 2009 at 8:14 pm

So I can’t help but wonder…
You seem to take an enormous, inordinate amount of glee in reporting the demise of the newspaper industry. I have to wonder where all of you PR wanks will send your (mostly) trash now??
Something to ponder, don’t you think?

Len Gutman Says:
January 23rd, 2009 at 10:04 am

Eric,

I think you’ve missed the point. We’re worried about the demise of newspapers and in fact many PR people are former journalists themselves (myself included). Without newspapers it becomes much harder for PR people to do their job. We report on the industry to keep up-to-date on the changes because they effect us tremendously. I believe PR people are some of the few groups still reading newspapers!

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