Trouble in the News Industry

You might have heard that the company that owns the Centre Daily Times, of State College, Pa., has filed for a reorganization bankruptcy.

The Centre Daily Times is owned by the McClatchy Company. According to wikipedia.com, McClatchy is an American publishing company based in Sacramento, Calif., and incorporated in Delaware.

It operates 29 daily newspapers in fourteen states and has an average weekday circulation of 1.6 million and Sunday circulation of 2.4 million.[1] In 2006, it purchased Knight Ridder, which at the time was the second-largest newspaper company in the United States. Gannett...