Yet Another Newspaper Chain To Go Bankrupt
Categories: Breaking News
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The looming bankruptcy filing follows similar declarations by a string of companies that own daily newspapers, most notably (in these here parts, at least) the LA Times and the Orange County Register. Singleton himself will apparently remain at the helm of MediaNews thanks to some kind of stock option he exercised. Just a few years ago, it seemed as if Singleton's business model--buying papers, firing all the staff, making them re-interview for their own jobs for less pay in vastly downsized newsrooms--was the biggest threat to print journalism. Ah, the good old days...
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