The Newspaper Industry's Terrible, Horrible, No Good, Very Bad Day Continues

As you may already know, yesterday was a dark day for the newspaper industry: Layoffs at The Los Angeles Times; buyouts at The Wall Street Journal; the departure of The Chicago Times‘ editor-in-chief; The New York Times‘ stock price dipped to a decade-low as shares of McClatchy, Gannett, and News, Corporation also took hits.

Today, the hits just keep on coming. Some lowlights:

 

  • Los Angeles Times publisher David Hiller resigns after 21-months at the paper. “The overall picture of what’s happening to The Times is simply not good,” a prominent Los Angeles attorney told The Times‘ Michael A Hiltzik.
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  • Of Ann Marie Lipinski’s resignation at The Chicago Tribune, Howard Kurtz of The Washington Post writes, “While ‘no one enjoys’ downsizing, [Lipinski] said last night, her decision was not driven by the budget cuts and she delayed the announcement from last week to separate it from the staff reductions. ‘For the most part, the difficult days were overwhelmed by the good and the great days,’ Lipinski said.”
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  • Ms. Lipinski’s former colleagues, Phil Rosenthal and Michael Oneal write in The Chicago Tribune that “Those close to Lipinski said she bristled at some of the coarseness of billionaire Sam Zell, who took over Tribune Co. in December upon closing a heavily leveraged $8.2 billion deal taking the media concern private.”
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    The Newspaper Industry's Terrible, Horrible, No Good, Very Bad Day Continues