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February 4, 2012   Print  Email


Inquirer, Register face bankruptcy protection

Old timers time out

Posted by Gutar Wotch at 02:16 PM GMT on Feb 24, 2009

THE GUARDIAN of Manchester reported yesterday that the Philadelphia Inquirer and the Journal Register group have sought bankruptcy protection.

This is particularly sad news for the Philadelphia Inquirer, as it is the third oldest newspaper in the USA. The Journal Register also sought bankruptcy protection over the weekend, the Grauniad reported.

The problems appear to be because the Philly newspapers were picked up in 2006 by speculators wooed by the prospect of increased online advertising.

While the economic meltdown goes part of the way to explain the entry of the newspaper groups into Chapter 11, what’s really worrying newspaper proprietors across the world is that readers aren’t buying print publications but taking their news from the Interweb.

Newspapers, including the Grauniad, have an enormous headache because while they produce print titles, they also see the urgent need to have an Internet presence.

Very few newspapers that have tried to get people to pay for Internet subscriptions have managed the tricky feat – the exception being the Wall Street Journal.
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