Another Hideous Day for Newspapers

When some future historian writes the book about how newspapers went the way of the steel industry (if there are books in the future, of course), today could be the lede:

  • The Los Angeles Times notified 150 newsroom staffers that they’re getting fired today, months after they already cut dozens of jobs; the paper’s publisher "stepped down," and will be replaced on an interim basis by Randy Michaels, a man with a career in radio.
  • The New York Times‘ stock dropped another 3 percent today, falling to $13.21 and, at one point, hitting another decade-low of $13.00
  • The Wall Street Journal is buying out half a dozen staffers
  • The Chicago Tribune’s editor-in-chief, Ann Marie Lipinski, is resigning, and wrote in her farewell memo, "it would be inaccurate to attribute it to any one event." This comes less than a week after the Tribune announced it would cut 80 positions from its newsroom, the second wave of cuts this year for the paper.
  • McClatchy’s stock went down 3.14 percent, Gannett down 0.9 percent, News Corp down 0.77 percent.
Another Hideous Day for Newspapers