Raise your hand if you got most of your Oscar info from the newspaper. You are not alone. Some 89 million Americans depend upon their local newspaper for movie buzz.
That should be enough for a lead role, you say. Perhaps. But it’s too little, too late as several more newspapers file for bankruptcy:
MarketWatch reports the Journal Register, debt-strapped owner of the New Haven Register and 19 other daily U.S. newspapers, is filing for Chapter 11 bankruptcy protection. The move comes even after the company divested unprofitable papers, cut staff and made cuts to other expenses.
More: Reuters says Philadelphia Newspapers, the publisher of the Philadelphia Inquirer and Philadelphia Daily News, is filing for Chapter 11 bankruptcy, in an attempt to deal with falling advertising revenue. The company says it will continue normal operations of its newspapers and other businesses.
And more: Gannett's Feb. 19 deadline to receive bids for the Tucson Citizen passed with no offers, making it likely the 138-year-old newspaper will shut down. A last-minute buyer is seen as unlikely because Gannett is keeping its 50% stake in the joint operating deal with the rival Arizona Daily Star.
Still more: CanWest, the largest owner of television, newspapers and radio in Canada, is trying to secure financing to avoid filing for bankruptcy the end of the month.
Train wrecks disguised as news organizations.
What time do the bars open?