Schadenfreude Alert: McClatchy, publisher of the Miami Herald and other newspapers files for bankruptcy.
The publisher of the Miami Herald, The Kansas City Star and dozens of newspapers across the country is filing for bankruptcy protection.
The publisher’s 30 local newsrooms will continue to operate as usual as McClatchy Co. reorganizes under Chapter 11 bankruptcy protection.
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McClatchy expects fourth-quarter revenues of $183.9 million, down 14% from a year earlier. Its 2019 revenue is anticipated to be down 12.1% from the previous year. That would mean that the publisher’s revenue will have slid for six consecutive years.
McClatchy, publisher of dozens of U.S. newspapers, files for bankruptcy protection
My guess is the Herald will have another round of firings (#LearnToCode) and then move from the warehouse in Doral to some refurbished strip mall in Little Havana next to the immigration law firm (Get your Green Card for only $499.00!) and the bodega.
But wait, this is what we should expect from the newspaper struggle:
“When local media suffers in the face of industry challenges, communities suffer: polarization grows, civic connections fray and borrowing costs rise for local governments,” said CEO Craig Forman. “We are moving with speed and focus to benefit all our stakeholders and our communities.”
Funny, I don’t know the other papers, but the Herald has been polarizing people for decades now and making everything less civil and civic. I can even tell you if not the moment your slide down the path of irrelevancy began, at least it was a good shove: It was the year 2,000 and your editorial board announced with the printed version of a fanfare of trumpet that you would eb abandoned the practice of not endorsing a president and throwing your blessing towards Al Gore being the President, something along the lines of that election being too important to give to the Republicans. And if that was not all, the shitty coverage and injecting yourselves in the Recount trying to do your best to revert the result of the elections in favor of the Democrats.
Does Miami-Dade need a newspaper? Indeed it does. Does Miami need the Miami Herald? No, we already get enough political spam and junk mail every day in our inboxes, both electronic and Real Life.
Hat Tip Kevin C.
PS: I almost forgot: #LearnToCode