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The second-largest U.S. local newspaper company has obtained new $50 million debtor-in-possession financing from Encina Business Credit that will allow the local news outlets it operates to continue to operate.
Look at all print and dinosaur media... faceplanting.
Awesome - another fake news outlet bites the dust! I need more real news and details about that guy who was molesting babies in the basement of cosmic pizza.
Printed news is slowing dying. It has nothing to do with them being left or right. People can easily get their news online now. It's kind of like books which someday could become obsolete because of devices like Kindle. Personally, I like to actually read a newspaper and turn the pages just like a book. So I don't like to see any newspaper go out of business.
Nunes sues McClatchy for defamation and after a Judge denied their request for dismissal, they file bankruptcy.
I call baloney. McClatchy's been bleeding red ink for years and years. Nunes lawsuit had nothing to do with is. McClatchy can't make their pension fund payments, they had 10 retirees on the books for every working employee.
I call baloney. McClatchy's been bleeding red ink for years and years. Nunes lawsuit had nothing to do with is. McClatchy can't make their pension fund payments, they had 10 retirees on the books for every working employee.
One sided news and opinion and paywalls cut out a lot of potential customers especially people going to their websites. This is a problem at the local level especially in big cities. The physical paper has insane pricing let alone the paywalls. Paywall means a niche customer. Many businesses fail trying to satisify or get one demographic.
Printed news is slowing dying. It has nothing to do with them being left or right. People can easily get their news online now. It's kind of like books which someday could become obsolete because of devices like Kindle. Personally, I like to actually read a newspaper and turn the pages just like a book. So I don't like to see any newspaper go out of business.
I like physical media, as well.
Even though I get most of my national news on line, I get two local newspapers. One is weekly and the other twice a week, but they are physical, and they are local.
I don't own a Kindle, but I have a modest bookcase.
But the days of print are at an end.
And, frankly our civilization is becoming "post literate," meaning we are losing our ability to read and understand printed material, at more than a superficial level.
McClatchy was about as relevant in 2024 as Yahoo! News.
Print media is dying faster than Joe Biden, just without the grift money that Biden has accumulated.
Display ad purchases have been down for at least 15 years.
Craigslist killed off the once-lucrative classified ad section of newspapers. Yes, I sold my cars via classified ads in the paper at one point, and they charged $20 for 4 lines of print. And there were HUNDREDS of them in each paper.
But what's killed the legacy newspapers the fastest is this:
"While we tried hard to avoid this step, there's no question that the scale of our 75-year-old pension plan -- with 10 pensioners for every single active employee -- is a reflection of another economic era."
10 pensioners for 1 active employee will not work. Period.
One sided news and opinion and paywalls cut out a lot of potential customers
...
Paywall means a niche customer. Many businesses fail trying to satisify or get one demographic.
Every news organization fills a niche, and the ones without paywalls have enough ads that sometimes they crash my computer (and refuse to load, if they detect an ad blocker).
The whole of news media is failing, and the old models of how news is gathered can't support itself.
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