Stop the Presses! Oh Wait - DON'T!

I suppose it's a 'sign of the times' (I hate that phrase), but I just read an article that listed the Top 10 newspapers in the country that are close to going out of business. I was hoping that I wouldn't see my hometown newspaper - the Minneapolis Star Tribune on that list, but alas - it was #2! Apparently it has already filed for Chapter 11 bankruptcy. Oh, how sad! I have old copies of that newspaper from important historical days throughout my lifetime (well, my Mom had the smart idea of saving them) and it would be so sad to see that paper cease production.

We got the Star Tribune delivered to our house every day of my childhood, I think. Both my parents read the paper religiously and I can still picture my Dad sitting in 'his chair' either in the kitchen or in the living room, with that big newspaper in front of his face.

Here's the excerpt from the article about the "Strib" as some locals call it...

2. The Minneapolis Star Tribune has filed for Chapter 11. The paper may not make money this year even without the costs of debt coverage. The company said it made $26 million last year, about half of what it made in 2007. The odds are that the Star Tribune will lose money this year if its ad revenue drops another 20%. There is no point for creditors to keep the paper open if it cannot generate cash. It could become an all-digital property, but supporting a daily circulation of over 300,000 is too much of a burden. It could survive if its rival the St. Paul Pioneer Press folds. A grim race.

Here is the link to the article if you would like to check out the other 9 newspapers that are likely to fold:

http://news.yahoo.com/s/time/20090309/us_time/08599188378500

Another one of the newspapers on the list is the Fort Worth Star Telegram - the paper that is delivered to my neighborhood. AGH!

9. The Fort Worth Star Telegram is another one of the big dailies that competes with a larger paper in a neighboring market - Dallas. The parent of The Dallas Morning News, Belo, is arguably a stronger company that the Star Telegram's parent, McClatchy. The Morning News has a circulation of about 350,000 and the Star Telegram has just over 200,000. The Star Telegram will have to shut down or become an edition of its rival. Putting them together would save tens of millions of dollars a year.