Inquirer owner files for bankruptcy protectionPhiladelphia Newspapers, which also owns the Daily News, says the filing allows it to restructure debt load.Philadelphia Newspapers LLC, which owns The Inquirer, the Philadelphia Daily News, and Philly.com, filed for bankruptcy protection yesterday in a bid to restructure its $390 million in debt load.Read more at Philly.com.
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More layoffs likely at The Bee as McClatchy tries to cut red ink
Analyst: Publisher can't raise stock above $1 to keep from being delistedBuyouts, layoffs, pay cuts and mandatory furloughs are all on the table as The Sacramento Bee works up a plan to help its owner cut expenses by about $110 million over the next year, The Newspaper Guild said.Read more in the Sacramento Business Journal.
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Sale deadline passes, 'Tucson Citizen' likely to quit in MarchTUCSON - Gannett Co. Inc.'s self-imposed deadline to receive bids for the Tucson Citizen has passed with no apparent offers, making it likely the 138-year-old paper will stop publication in March, the newspaper reported.Read more at AZCentral.com.Journal Register Seeks BankrupcyThe Journal Register Company, publisher of The New Haven Register in Connecticut and other newspapers, filed for Chapter 11 protection on Saturday.Read more in The New York Times.
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And the funniest media-related thing I've read/heard all week?
Drum roll puh-leeeeeeze!
Why the Twitter media craze? "Because were rotting corpses grabbing for any glimmer of relevance." -- Samantha Bee.
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