Newspaper industry is also crappy

[genlock]

Tribune Co. is preparing for a possible bankruptcy-protection filing as soon as this week, according to people familiar with the matter, opening a new front of trouble for the newspaper industry.
Miami Herald and Rocky Mountain News are for sale.

[Big Media]

I wonder if they will ask for some bailout money. I am shocked Clear Channel hasn't.

[cgarison]

Is all of Tribune going under or just their newspaper properties?

When you look and see that their web properties include ForSaleByOwner.com, Cars.com, and CareerBuilder.com, they are really caught in a jam with the shrinkage in the housing, auto and employment market. Only Apartments.com is going to stand a chance in this environment, but I have had more luck searching for apartments in this town by word of mouth and not by a web site or newspaper. The TV properties look like they are in solid markets but many of the properties serve the My Television Network which is nothing but a total bust.
___________________________________________________

Here in Philly, you really have to feel sorry for Bruce Toll. He a majority stake holder of his brother's company Toll Brothers (housing), owns several car dealerships, and Philadelphia Media Holdings. Rumor has it in Philly that several of Toll owned car stealerships are circling the drain and are just days from shuttering the doors. And his brother Bob Toll has laid off a majority of the workers at Toll Brothers in their IT/Finance groups (including several people I know) and has been on every major media outlet begging for bailout dollars.

http://people.forbes.com/profile/bruce-e-toll/80147

Poor bloke is caught in a triple whammy with the decline in the housing market, the auto debacle and the newspaper ad revenue slide of the last 5 years. Knight Ridder sold the Inquirer/Daily News for a reason. It was a huge cash sink with no immediate means of near term turnaround.

___________________________________________________

Whoa! I may not be able to see the Mummers perform on WGN this year while I eat my Philly style pork roast and sauerkraut on New Years Day in Ashland. . Well, as long as I am not get caught in a flash mob on Two Street after the Mummers' Parade and having to escape the grasp of Philly's finest with hundreds of drunk Mummers. I'm never doing that again!

[cgarison]

Hmmm..... The Old Gray Lady is not not far behind.

http://money.cnn.com/news/newsfeeds/sil ... _next.html