Sobering analysis from the folks at Time Magazine and 24/7 Wall Street as they name the top 10 newspapers that are likely to fold or at least stop printing and move completely online in the next 18 months.
Here’s the list:
- The Philadelphia Daily News
- The Minneapolis Star Tribune
- The Miami Herald
- The Detroit News
- The Boston Globe is, based on several accounts, losing $1 million a week. One investment bank recently said the paper is worth only $20 million. The paper is the flagship of what the Globe’s parent, the New York Times, calls the New England Media Group. The Times has substantial financial problems of its own. Last year, ad revenue for the New England properties was down 18%. That is likely to continue or get worse this year. Supporting larger losses at the Globe will become nearly impossible. Boston.com, the online site that includes the digital aspects of the Globe, will probably be all that remains of the operation.
- The San Francisco Chronicle
- The Chicago Sun-Times
- The New York Daily News
- The Fort Worth Star-Telegram
- The Cleveland Plain Dealer
Wow, what a list. Great analysis by Time and 24/7 Wall Street. It’s not over yet — at least the Los Angeles Times may have found a sugar daddy.
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