Newsmax has a list of the Top Ten Newspapers most likely to go out of business this year. An interesting little list, made even more interesting by the lack of the Seattle Post-Intelligencer therein (The Post-Intelligencer is terminating operations as we speak!)
Here’s the list:
10. The Cleveland Plain Dealer. Like the Detroit News, it is a once-proud watchdog of a city now in serious decline. Part of the Newhouse family empire, which publishes magazines like The New Yorker in its Conde Nast group, the Plain Dealer “will be shut or go digital by the end of next year.”
9. The Fort Worth Star Telegram competes with the much larger, financially strapped Dallas Morning News in areas. Merging the two papers together would create a larger circulation daily that would save tens of millions of dollars a year. (JD’s Note: And for Texas, it’s pretty liberal.)
8. The NY Daily News is one of several large papers struggling in New York City. “Based on figures from other big dailies it could easily lose $60 million or $70 million and has no chance of recovering from that level,” Time reports.
7. The Chicago Sun Times. Despite the plight of the much-larger Chicago Tribune, the stock of the Sun Times parent company now trades for $.03 a share. Enough said. (JD’s Note: It’s a Murdoch paper that rubbed a lot of people the wrong way when he bought it, and has never recovered it’s cachet. That’s a shame; it;s much more peronable and accessible that the haughty, sneering Chicago Tribune.)
6. The San Francisco Chronicle. As described above, its owner Hearst has already set a deadline for shutting the paper if it cannot make tremendous cost cuts. Time says it could be online only by mid-2009.
5. The Boston Globe is losing an estimated $1 million a week, according to several reports. Owned by The New York Times, its large losses may be unsustainable for much longer, especially considering the parent paper’s plight in New York City. What’s left of the paper’s staff will probably become part of Boston.com, the online site that includes the digital aspects of the Globe.
4. The Detroit News, one of two daily papers left in a city that has been devastated by the decline of the automobile industry. “With the fortunes of Detroit getting worse each day, cutting back the number of days that the paper is delivered will not save enough money to keep the paper open,” Time reports. (JD’s Note: The automobile industry has less to do with Detroit’s fortune’s than 40 years of Democrat control of the City. Average home values in Detroit is today $7,500 — you read that correctly — Seven thousand, Five hundred dollars per home. Sad, and criminal.)
3. The Miami Herald, which has a daily circulation that has plunged dramatically to about 220,000. It has been for sale since December, but no serious bidders have emerged. It is likely that the Herald will go online-only with two editions, one for English-speaking readers and one for Spanish, according to Time.
2. The Minneapolis Star Tribune, which also has filed for Chapter 11 bankruptcy. If its revenues continue to drop, Time reports, it could shut down completely or become an all-digital property.
~~And the Most Likely Newspaper to Shut Down this Year:~~
1. The Philadelphia Daily News, the smaller of the two papers owned by The Philadelphia Newspapers LLC, which recently filed for bankruptcy. The tabloid with 100,000 circulation will probably become part of Philly.com, the web operation for both of the city dailies.
Meanwhile, NONE of these once-proud newspapers sees fit to re-evaluate their leftist editorial policies?
My grandpa used to say, “Stupid people deserve what happens to them.” Truer words were never spoken.