Large Newspapers Going Bankrupt
When the Boston Globe unions reported that its larger owner, NYT Co. is threatening to shut it down, everyone was on tenterhooks. Either the NYT Co.’s way or the highway, says The Guild, the largest union of newspaper staffs and workers.
This phenomenon is by no means unique to the aforementioned newspaper. Since everyone is turning to the World Wide Web, people are finding less and less reasons to buy newspapers. This is especially true for countries like the United States, where small and big newspaper companies are closing down their physical facilities in favor of an online presence.
Do you think there is any way at all for the newspapers to save themselves from total annihilation?