Friday, July 10, 2009

Eagle Times of Claremont, N.H., Closing Friday

The Eagle Times newspaper in Claremont, N.H., is filing for bankruptcy and shutting down.

Publisher Harvey Hill sent an e-mail to staffers Thursday saying Friday's edition of the paper will be its last.

He told employees he did his best to keep the daily paper going, but the economy and changes in the newspaper industry have made it impossible to survive. He said employees will get their last paycheck next week and will have health coverage through the end of the month.

The paper covers the city of Claremont and the surrounding area, including several towns in Vermont.

Hill did not return a message for comment. -- Associated Press Sphere: Related Content

Thursday, July 9, 2009

Buy One Anyway

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Wednesday, July 8, 2009

Murdoch Papers Said to Pay to Settle Hacking Cases

A British newspaper, The Guardian, reported on Wednesday that Rupert Murdoch’s British newspaper subsidiary paid about $1.6 million to settle court cases involving allegations that its reporters worked with private investigators to hack into the cellphone messages of numerous public figures. Among those whose cellphones were tapped or hacked into were the former deputy prime minister and at least one other cabinet minister, The Guardian reported. [Click for MORE]

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Monday, July 6, 2009

It's time for Zell to sell Tribune Co.

Fair or not, Zell has become the poster child for newspapers' ills. Tribune's financial condition keeps getting worse and worse. The journalists employed at his most prominent newspapers, the Los Angeles Times and the Chicago Tribune, gamely fight the good fight against their competitors at the New York Times, The Wall Street Journal and the Washington Post .

But under Zell's stewardship, the Tribune and the L.A. Times are shadows of what they were in fat times. [Click for MORE]

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Cubs Sale Finalized for Tribune Co.

Tribune Co. has finalized a deal to sell the Chicago Cubs to a bidding group led by bond salesman Thomas Ricketts.

Documents describing the fully financed deal were sent to Major League Baseball over the weekend, a source familiar with the negotiations said Monday. The value of the deal is between $850 million and $900 million, the source said. [Click for MORE]

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Tribune Co. Profitability Continues to Deteriorate

Tribune Co.’s financial picture deteriorated even more this year as declining advertising sales continued to hammer the newspaper industry, the Chicago media conglomerate’s bankruptcy filings show.

The company is much less profitable than before its filing in December and is burning through cash, financial statements for the first five months of the year show. Tribune’s revenue declined about 23% in the first half of 2009, according to an estimate by Chicago-based Morningstar Inc. analyst Tom Corbett, who reviewed the company’s financials. [Click for MORE]

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