No More Globe?
In the past week there was a great three-part feature in the Daily Collegian, Prepared to go down with the ship. The Boston Globe was given a 30 day deadline by its owner, The New York Times Co, to cut $20 million, or else it would be shut down. The 30 day deadline ended today. Throughout the articles the seriousness of the threat is questioned a lot, and I’ve been unable to find out what the final outcome is.
As the country’s 14th largest paper, The Boston Globe – which is owned by The New York Times Co. – lost a reported $50 million in 2008 and is on track to lose $85 million more this year. If it closes shop, which the Times Co. has threatened to do, it will be the largest paper to do so.
This is really scary to hear if you’re a journalism major, like most of the people in our class are! The huge papers in the U.S. are starting to fail…it’s really looking bad for the industry.
It’s sad to see that the Globe is on the way out. My grandparents were talking about it, saying that it had been there for their entire lives. It looks like a direct effect to the internet-based world we live in today. -Rich
Posted 2 years, 9 months ago