Watching Old Media Die, Ctd.

By Patrick Appel
Andrew picked a good week to write about the end of newspapers. Ryan Chittum explains what the possible Tribune Company bankruptcy means:

The last hope for the newspaper industry to avoid a massacre was the brand value, the cachet, of newspapers. They are (yes, still) power centers in their communities and are trophy assets for the rich players in those places. Those rich folks aren’t so rich anymore and nobody will lend them money to buy a fifty-cent copy of a paper now, much less $500 million for the whole operation.

Think the news has been bad for the industry in the last couple of years? The real blood-letting is about to begin.