PrintSeptember 18, 2008
Newspaper death spiral accelerates some more
The decline in advertising revenues at the NYT accelerates again, and now the largest newspaper in New Jersey, the Star-Ledger of Newark, is threatening to shut down next January, if its employees do not voluntarily accept buyouts and unions do not agree to concessions.
Editor & Publisher obtained and posted a copy of the email from the Star-Ledger publisher to employees. See it here.
The NYT is not threatening to close yet, but advertisers are deserting it so fast now that its business model can be considered broken-to-year, advertising revenues for The New York Times Media Group decreased 15.1%.
The panic which must be spreading through the ranks of print journalists can be expected to weaken their hold on mental equanimity. Expect press misbehavior to accelerate.
Hat tips: Ed Lasky and Susan L.
