AND WE STILL HAVE A DAY TO GO

Posted by: Jon Fine on February 26, 2009

Think your industry is having a rough week so far? Take a look at the newspaper business.

Sat. Feb 21 – Newspaper chain Journal Register files for bankruptcy protection

Sun. Feb 22 – The parent of the Philadelphia Inquirer and Daily News files for bankruptcy protection

Mon. Feb 23 – The New York Times reports that Rupert Murdoch’s newspaper holdings are the albatross at his News Corp.

Mon. Feb. 23 – The Financial Times says it hopes to cut costs by encouraging employees to work shortened weeks

Tues. Feb 24 – Hearst says it will shutter the San Francisco Chronicle if its staff doesn’t agree to deep cost cuts

Wed. Feb. 25 – Gannett says it will slash its dividend by 90%

Wed. Feb. 25 – Washington Post Co. reports profits dropped 77% in the fourth quarter

Thurs. Feb. 26 – Hartford Courant says it is eliminating 100 positions

Thurs. Feb 26 – Cablevision reports a fourth quarter loss on its $402 million write-down of its acquisition of Newsday

Thurs Feb. 26 – E.W. Scripps says it is closing the Rocky Mountain News

——- Tom Lowry, filling in for the vacationing Jon Fine.

Reader Comments

Nate

March 5, 2009 2:51 PM

It is really sad to see that these newspapers could not see this coming. I feel like they could have stayed in business had they used their expansive talent base to embrace new media and technologies sooner.

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The media world continues to shapeshift as new forms arise and old assumptions erode. On this blog, Bloomberg Businessweek will provide sharp analysis and timely reports on the transformation of this constantly changing terrain.

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