Very bad news out of Chicago:
The company that owns the Chicago Sun-Times and 58 other newspapers and online sites said Tuesday it had filed for Chapter 11 bankruptcy.
The Sun-Times Media Group, Inc. said it would continue to operate its newspapers and Web sites as usual while it improves its cost structure and stabilizes operations.
Tuesday’s announcement comes amid a raft of newspaper closings and cuts that has seen the end of The Rocky Mountain News in Denver, Colorado; The Seattle Post-Intelligencer , and The Christian Science Monitor .
The chain that owns the Los Angeles Times and the Chicago Tribune is in bankruptcy and other papers are on the brink. And two industry giants, The Washington Post and The New York Times , announced last week they are cutting costs and staff amid tumbling revenue and continued economic decline.
The Sun-Times said similar cost-cutting measures failed to turn around the company’s fortunes.
Local newspapers provide an important service to their communities—disseminating information, forming discussions, keeping local businessman and officials honest, fostering a sense of community, etc. While websites and blogs have carved out their own roles in public discourse, I just don’t think these electronic alternatives can make up for the loss of newsprint.
Very soon, we’ll see the day when, for the first time, a major US city goes without their own local newspaper. And that’s not something I’m looking forward to.
