Last night my husband rushed in the door at 6:40 and turned on the TV news. This would not be unusual for most people, but we don't ordinarily watch the 6:30 news broadcast. Well, unless one of us is on the news, and this was one of those times.
Except we turned it on too late to catch his interview with Channel 3. They wanted to know if he thought the Sacramento Bee was in danger of going out of circulation because the Bee just announced that it was offering buy-outs to 55% of its staff. 200 of its 240 full-time news reporters have been offered money to leave, in addition to other positions and part-time jobs.
First, the Sacramento Bee eliminated some of its top-paid reporters a few years ago. Then it eliminated other positions this summer, including the consolidation of its Business and Metro sections, and it shrunk the size of the newspaper. It's not alone because 7 other McClatchy papers offered buy-outs this month.
Declining revenue from advertisers is causing the paper to find other ways to save money. Some of its major advertisers have gone bankrupt. It's also lost a lot of revenue from real-estate related advertisers due to the housing slump, and because more and more buyers are looking online for this information.
It would be a sad day indeed to wake up to find no newspaper at all on my front porch. Where do you think the newspaper industry is headed? What's the future for print? Will we soon get all of our news on the Internet and / or TV?
Photo: Big Stock Photo
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