Media giant Tribune Co., saddled with billions in debt since it became a privately held company last year, filed for Chapter 11 bankruptcy protection in a Delaware court this afternoon, becoming the first major newspaper or chain to declare bankruptcy in modern history. (Washington Post)
Total print and online newspaper advertising revenues plummeted to $8.92 billion in Q3 2008, an 18% drop of nearly $2 billion from Q3 2007, and a 6.9% drop from Q2 2008, according to figures released by the Newspaper Association of America. (MarketingCharts)
Oh, and I’m back from holidays. By the way, when did David Kirk, CEO of Fairfax resign? o.O when I was riding camels in Broome? He had a tough job, I didn’t envy him at all. Fairfax has a corporate culture oblivious to change or die. Yeah yeah he sacked a bunch of staff. But tell me you wouldn’t do the same, in the same position?