Many Major Newspapers have already started going under. Recently, when I heard The Rocky Mountain News closed I realized how bad the situation had become. Denver is one of the fastest growing areas of the country and even this could not keep them afloat. According to one source, The Boston Globe may be next. In fairness, this story was reported in the Herald, but I decided to go directly to the original source.
5. The Boston Globe is, based on several accounts, losing $1 million a week. One investment bank recently said that the paper is only worth $20 million. The paper is the flagship of what the Globe’s parent, The New York Times, calls the New England Media Group. NYT has substantial financial problems of its own. Last year, ad revenue for the New England properties was down 18%. That is likely to continue or get worse this year. Supporting larger losses at the Globe will become nearly impossible. Boston.com, the online site that includes the digital aspects of the Globe, will probably be all that will be left of the operation.
MORE AFTER THE FOLD….
I’ve been thinking of some amazing, yet possible hypothetical situations here.
1) The Boston Herald is the “Last Man Standing” in Boston.
2) A local conservative buys the Globe for “only” $20 million. I know people with $20 million bucks.
3) The Government bails out the NYT and all their lefty propaganda machines with our money.