We better start bailing out newspapers. The Star Tribune, a newspaper based out of Chicago has declared bankruptcy. From Richard Howe:
…the continued decline in revenue from local advertising that analysts predict will grow even worse in 2009. Earlier this week at a media conference in New York City, one analyst predicted that “local ad spending in 2008 could fall 9 percent from 2007 and in 2009 it could fall 21 percent from 2008.”
Just think, newspapers being bought out by the government.
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