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.