Mar 9, 2009 11:01 pm US/Eastern
Globe Listed Among 'Endangered Newspapers'
BOSTON (WBZ) ―
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The Boston Globe is on a list of 10 major newspapers in the country predicted to either shut down during the recession or to switch to an all-digital format. The list is featured on
Time Magazine's Web site.
The article by
24/7 Wall St. columnist Douglas McIntyre, reports the Boston Globe is losing $1 million a week.
The newspaper and its parent company, The New York Times, have been trying to cut costs and raise money.
The New York Times has sold pieces of its
New York headquarters, and it is trying to sell its stake in the Boston Red Sox.
The Boston Globe is trying to buy out some employees, and it has shut down its sports weekly, "O-T."
So far, the Globe has not commented on the
report.
Also on the list of "endangered newspapers" is the Philadelphia Daily News, The Miami Herald and the Detroit News.
HARD TO IMAGINE BOSTON WITHOUT THE GLOBE
"It's hard to grasp any of the cities mentioned without those newspapers," said Frank Herron, director of the Center on Media & Society at UMass Boston. "The Globe has been an absolute stalwart journalistically, not just in Boston but in the region. It's absolutely sobering to consider it."
The problem newspapers across the country are faced with is the drastic decline in revenue, much in part because more and more people are getting their news online.
"It's tough to start charging for something people have been getting for free," Herron said.
WOULD YOU PAY A FEE FOR ONLINE NEWS?
WBZ got mixed feelings from people about whether they would be willing to pay a fee for online news if it meant keep reputable news sources from closing down.
"(It's a) tough choice," said Harvard student Brooke Mcdowell. "Ultimately yes, I would say so because the news is the news."
"I probably would just from the standpoint of its convenience," said Lexington resident Neil Milden. "So long as it doesn't exceed the normal home delivery subscription price."
Still, some said they'd rather have a newspaper in hand rather than having to read the articles online.
"I wouldn't bother to read it online," said Somerville resident Jim Armstrong. "I'd probably buy the Times, the New York Times instead."
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