From ‘Newspapers & Technology’ Dateline newsletter:
2 more publishers file for bankruptcy protection
American Community Newspapers Inc.’s bankruptcy could cost Gannett Co. Inc. hundreds of thousands of dollars.
Gannett’s printing group, owed $273,000, was listed as ACN’s largest unsecured creditor, according to the filing. ACN filed for bankruptcy protection April 28, citing a weak advertising market, according to [...]
Once again, the number of stories to write about has outpaced my ability to keep up. So here’s a quick list of a few stories from the past week or two…
1) Even with an increase in TV advertising revenue due to the Olympics and heavy politcal advertsing, Gannett’s net income for the 3rd quarter dropped [...]
The pace of news about the decimation of the daily newspaper industry is accelerating, and the picture is getting uglier and uglier every week. Among the recent stories, McClatchy is freezing wages, Gannett is reducing headcount by 1,000, and JCPenney and Kohl’s both announced plans to drastically cut back their newspaper circular advertising. Cox Enterprises [...]