Looks like the internet is winning

Dec. 8, 2008  

These three stories broke this morning:

The McClatchy Co., burdened by debt and a steep slide in newspaper advertising, wants to sell one of its most prized properties, The Miami Herald, according to people briefed on the company’s plans.
McClatchy, the nation’s third-largest newspaper chain, has approached potential buyers for The Herald, said these people. But they said they knew of no serious offers for the paper, reflecting the evaporation of major investors’ interest in buying newspapers.

The company’s holdings include the Los Angeles Times, Chicago Tribune, Baltimore Sun, South Florida’s Sun Sentinel, Orlando Sentinel, Hartford Courant, 23 television stations, cable station WGN, and the Chicago Cubs.

The New York Times Company plans to borrow up to $225 million against its mid-Manhattan headquarters building, to ease a potential cash flow squeeze as the company grapples with tighter credit and shrinking profits.

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And this one followed:

At Last: Pulitzer Prizes Expand to Internet Only Web News Outlets

NEW YORK For the first time, the Pulitzer Prizes will accept submissions from online-only news outlets, but require that they be “text-based” submissions from news organizations that are updated at least weekly and include original reporting.
Pulitzer Administrator Sig Gissler told E&P that “we are expanding the Pulitzers to include many text-based newspapers and news organizations that publish only on the Internet.” At the same time, they are “stressing” that all entered material should come from news outlets that publish material at least weekly, “are primarily dedicated to original news reporting, are dedicated to coverage of ongoing stories and that adhere to the highest journalistic principles.”

Coincidence?

Trevor Timm is a Blast Magazine staff writer

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