[mlocher]

Think about the number of people involved in putting out a paper. Editors, reporters, pressmen, delivery men, and the administrative infrastructure to go with all those people. Ad sales just will not carry this overhead any more.

You are correct. In addition, now that we are in a recession, the Ad sales will continue to drop. Oh yeah, you forgot to mention payouts to AP and other wire services -- I LOVE the ripple effect on AP!

[abb]

They are about to go cash flow negative.

http://www.mediapost.com/publications/?fa=Articles.showArticle&art_aid=94491
Publishing operating cash flow was $13 million—a 91% decline from $148 million in 2007. The company said publishing ad revenues sank 19%, or $111 million, for the quarter.