Business as Usual at Your Hometown Newspaper
It's no secret that the entire newspaper industry has been struggling, as print readership moves to the Internet, print advertising reflects the nation's recession, and profitable publishing companies find themselves weighed down by debt.
On Sunday, the owner of Philadelphia’s two major daily papers, The Philadelphia Inquirer and Philadelphia Daily News, "filed for Chapter 11 bankruptcy protection, an effort to restructure its increasing debt load,"as reported by The Associated Press.
The day before, The Saratogian's parent company, the Journal Register Co. , did the same, as did the Tribune Co. in December, and The Star Tribune of Minneapolis in January. Other companies are facing similar challenges.
What does the Chapter 11 filing mean for us and for you? I am optimistic that the reorganization will enable to move the company forward. The Journal Register Company has about 20 daily and 159 non-daily newspapers, including Saratoga, Troy, Kingston, Oneida and the greater Philadelphia, Michigan, Connecticut, and Cleveland areas, and about 3,500 employees.
Without question, we at The Saratogian are no different than we were before the weekend -- a staff committed to bringing you a complete, timely, thoughtful and thought-provoking local news report.