More Bad News for Newspapers

If the message hasn't gotten through yet: Newspapers are in big trouble. Countless stories have chronicled the different editorial and business woes, but The New York Times' media writer Richard Perez-Pena did an excellent trends piece on the situation recently. He provides a good overview of the different market forces affecting revenues (Craigslist, anyone?), while providing some context for the whole shift.

The bottom line? Newspapers are hemorrhaging profits at an alarming rate, slashing staffs and trying to ride out the problem of not adapting to online markets fast enough. Factor in the regular recession tide and fall, and you've got a wave of newspaper sell offs.

To read "An Industry Imperiled by Falling Profits and Shrinking Ads," visit:
http://www.nytimes.com/2008/02/07/business/media/07paper.html?_r=1&scp=3&sq=newspapers&st=nyt&oref=slogin