Tuesday, March 10, 2009

The Next 10 Newspapers to Die?

After careful analysis, 24/7 Wall St. has created a list of the 10 major daily papers that are most likely to fold or shutter their print operations and only publish online.
The parent of the papers in Philadelphia declared bankruptcy as did the Journal Register chain. The Rocky Mountain News closed and the Seattle Post Intelligencer, owned by Hearst, will almost certainly close or only publish online. Hearst has said it will also close The San Francisco Chronicle if it cannot make massive cuts at the paper. The most recent rumor is that the company will fire half of the editorial staff. That action still may not be enough to make the property profitable.

It is possible that eight of the fifty largest daily newspapers in the United States could cease publication in the next eighteen months.
Here's their endangered list:

1. The Philadelphia Daily News
2. The Minneapolis Star Tribune
3. The Miami Herald
4. The Detroit News
5. The Boston Globe
6. The San Francisco Chronicle
7. The Chicago Sun-Times
8. The New York Daily News
9. The Fort Worth Star-Telegram
10. The Cleveland Plain Dealer

Meanwhile, McClatchy announced it is cutting another 1,600 jobs at its 30 daily newspapers, in a cost-cutting spree that has clipped nearly one-third of its work force in less than a year.
The Kansas City Star is lopping 150 jobs. The flagship Sacramento Bee is trimming 128 jobs, and wringing other savings through wage cuts of up to 6 percent and possible unpaid furloughs of one week. Similar job-saving pay cuts are coming up for a vote at two other McClatchy newspapers in California, The Modesto Bee and The Fresno Bee. The Fort Worth Star-Telegram in Texas and The Sun News of Myrtle Beach, S.C. are among the other McClatchy newspapers that have already disclosed their job cuts.

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