Sun-Times Media Group Files for Voluntary Bankruptcy (Update2) – Bloomberg.com — This just keeps getting worse by the minute.
Sun-Times Media Group Inc. became the second major Chicago newspaper publisher to seek bankruptcy protection as plunging advertising revenue makes debt payments more difficult.
The company, the owner of the namesake newspaper, and its principal operating subsidiary, the Sun-Times News Group, will continue to run their newspapers and online sites while they focus on further improving cost structure and stabilizing operations, the publisher said in a statement today.
Chicago Tribune owner Tribune Co. and Philadelphia Newspapers LLC, which runs the Philadelphia Inquirer, are among four other newspaper publishers to file for bankruptcy since December. Chicago is the third-largest U.S. city.
I wonder where Andy Ihnatko will go if they can’t restructure and go under?
I say goodbye and good riddance to this rag. I have refused to even read free copies of this paper sitting around the office since they printed the home address of Steve Bartman (see the Steve Bartman incident; Chicago Cubs http://tinyurl.com/8hg7s).
Anyway, I remember hearing Leo Laporte estimate that for the yearly cost of paper alone, the NY Times could buy all their subscribers an Amazon Kindle and go paperless and still make money off the electronic subscriptions.
I’ve never understood the fascination/nostalgic feelings people have about print newspaper; I’d much rater do my reading online.
I’m rooting for the NY Times to join the club.
As long as the newspapers continue to write their own biased agenda as the news, they will continue to suffer.
another NY Times example
http://bit.ly/PkEx
What will I wipe my arse with now?
Laugh now, but where will real journalism come from? The web is 85% regurgitated content. What will people read for information when everything becomes a tweet?
# 7 smartalix said, “Laugh now, but where will real journalism come from?”
I don’t know. It certainly hasn’t been coming from newspapers for a couple of decades…
Muppet brigade is out again. Turning every story into a Obama sucks story.
And increasingly less often, how the republicans are great. Not much to shout about there I ‘spose. Anyway it’s dull, dull, dull.
#7 smartalix raises a great question.
How about putting your efforts into coming up with a good answer? Democracy is broke if the people are not informed.
My question is why all of them filling chapter 11 instead of chapter 7 bankruptcy? How in the world do they think that things will get better and all they need to do is reorganize their debt? Who is going to float them any more money to burn? I suppose it’s President Obama and his bailout crew that will help, AGAIN!!
It is just another member of the “help me I am failing” crowd. Throw them a couple million. It’s only money.
Maybe the newspapers should get a bailout, with Obama replacing their chiefs, and telling them what articles to run.
With their main opinion columnist Bob Novak out, that reduces their brand a bit.
“Laugh now, but where will real journalism come from?”
From thousands of talented people who do it as a passion rather than as a mere job. I read Michael Yon, who produces extraordinary work. He’s one of the best real journalists out there, and he doesn’t work for my local newspaper. I am sure that people on the left can point to freelance reporters of an equal caliber.
I enjoy watching the papers fail. I will have a party when the rag San Francisco Chronicle dies a well deserved death. Real journalism? It does not exist anywhere.
>From thousands of talented people who do it as a passion rather than as a mere job.
I think it’s the opposite. Newspapers did well when the reporters were basically blue collar workers. It was only when everyone came from journalism school that things got worse.
The Sun-Times was a right wing rag. Its base just got tired of the baseless, slanderous attacks. The world is a better place without them.
And yes, the right wing nuts are once again out blaming the liberals because they didn’t buy this piece of garbage.