The cover story in the June issue of Editor & Publisher does a good job of showing how the newspaper industry is awash in debt. Key line: "Newspapers across the nation are racing to drive down costs so they can service debt with declining or flat revenue streams." Talk about a vicious cycle.
The article is available online to subscribers only, but here's a column by Mark Fitzgerald about McClatchy that pretty well sums up the problem for many others, too.
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