Sunday, February 22, 2009

Journal Register Co. files Chapter 11

From the AP:

The Journal Register Co. filed Saturday for Chapter 11 protection from its creditors and said slumping advertising revenue and circulation are to blame.

The Journal Register Co. owns the New Haven Register.

IMO, they need to revamp their revenue model. They could make much better use of the web... an area in which the MRJ has done a good job over the past year... so it's not as if only big name newspapers can be successful with the web.

A newspaper just needs to be creative. And that creativity offers benefits. For instance, while there have been widespread reports of newspaper layoffs... my understanding is that the MRJ has been creating jobs in their "new media" department.

And if you didn't know, Chapter 11 relates to a reorganization. Chapter 7 is liquidation.

Tim White

1 comment:

Anonymous said...

That's just part of the many risks the private sector has to face.

And, while the private sector is forced to reduce their costs and the size of their business, the bloated public sector rides along on the backs of the taxpayers, protecting their money pot and in the end, coming out bigger, richer and more powerful than ever before.

It's just the way democracy is subverted by the ambitions of politicians and powerful unions.