Romenesko

New York Times
"What is happening now [in the newspaper industry] is something new, something more serious than anyone has experienced in generations," writes Richard Perez-Pena. From his story:
* Some of the largest papers -- including The San Francisco Chronicle, The Boston Globe and The Los Angeles Times -- have lost 30 to 40 percent of their circulation in just a few years.
* Most papers have cut their newsrooms and simply done less reporting, especially overseas.
* It could take five to 10 years for the industry’s finances to stabilize and that many of the papers that survive will be smaller and will practice less ambitious journalism.
> McClatchy may end up writing off half of the $4.4B it paid for KR (Mutter)