Sun-Times files for bankruptcy

The Sun-Times Media Group filed for Chapter 11 bankruptcy Tuesday. The company owns the Chicago Sun-Times and many suburban newspapers. Chairman Jeremy Halbreich said the filing was important "to re-establish itself as a self-sustaining, profitable operation. That is worth fighting for.”

The Sun-Times Media Group now joins the Tribune Co. and the Star Tribune as Chapter 11 filers.

Changes take effect

The Detroit Free Press begins Monday its push toward sustaining journalism in the digital media age. The paper will print three days a week for home delivery (Thursday, Friday and Sunday) as well as daily for coin machines. It will be sent digitally to subscribers each morning. It will still maintain its Web site (free for all, updated 24-7). It will also begin sending free e-mail newsletters to those who sign up. Social networking will also be integrated with Facebook and Twitter, and eventually e-readers will begin to carry a version of the paper. I watched the video below and became hopeful all the planning will pay off. One of the residents interviewed in the clip calls journalism the "fourth branch of the government." I believe this is true, as there is an important role newspapers and journalism play in our democracy. I also loved the part where a staff member taught senior citizens how to use the digital edition on laptops! One was overjoyed at the thought of printing out two copies of the Sudoku—adorable! The entire newspaper world will be watching to see if this model pans out (I'm crossing my fingers that it does).

Rachel Maddow looks at the fate of newspapers

Visit msnbc.com for Breaking News, World News, and News about the Economy

Extra, Extra

Want to know what's on the front page of your hometown newspaper? What about the cover of the NYTimes or the Detroit Free Press? Newseum has PDF copies of all the major U.S. metropolitan newspapers. Check it out here!

A rare move of cooperation

In a rare move of cooperation, the competing Pioneer Press and Star Tribune are joining forces to deliver the latter paper to Washington County in MN and to areas of Wisconsin. 

STrib's publisher Chris Harte said Monday the PPress will start distributing STribs to help save the company money, which filed for Chapter 11 bankruptcy less than one week ago.

With the last post in mind...

U. Wisconsin's newspaper competition to the North, the Minnesota Daily, will officially cut to four papers a week—cutting its Friday print edition, while expanding its content on the Web. 

There had been rumors of this happening for some time with Minnesota's state deficit threatening to cut university funds—where much of the Daily's budget comes from. According to the Star Tribune, cutting Fridays will save the student publication $10,000 a month in printing costs.

In addition to cutting a print edition once a week, the staff at the Daily cut bonuses, will now pay per story instead of per hour, and will combine the sports and news sections.

The Daily is not alone in the move toward expanding coverage to the Web. Among many national papers, including the Capital Times of Madison, other student newspapers have cut publication, namely the Daily Californian at UC-Berkeley and the Daily Orange at Syracuse.

Its a tough time out there for newspapers. No word on how the economy may or is affecting the Daily Cardinal and the Badger Herald, the two competing student daily papers at UW. But, it is my hope that a balance will be found soon between print and online.

MSP's 'Meet the New Press'

I don't typically like things University of Minnesota (given that I attend UW-Madison), however, this article in this month's issue of Mpls.St.Paul Magazine speaks volumes to how I feel about the current state of the journalism world.

I agree with a lot of what the interviewees say about the future of newspapers and digital media.

Mexican billionaire may invest in NYTimes

The Wall Street Journal reported Saturday that the NYTimes Co. is talking to Mexican billionaire Carlos Slim Helu about investing $$$ in the newspaper. 

According to the Associated Press, the NYT was $1.1 billion in debt, with $46 million in cash at the end of September. A $400 million credit facility expires in May, the Journal reported.

Though the newspaper's value has decreased significantly, the billionaire could help with finances. Forbes named Helu the world's second richest man in 2008 (higher than Bill Gates) with a net worth of $60 billion.

S.Trib files bankrupcy

It's a sad day for MN journalism as the Star Tribune filed a Chapter 11 bankruptcy petition Thursday night. 

The Star Tribune is MN's largest newspaper.

"We intend to use the Chapter 11 process to make this great Twin Cities institution stronger, leaner and more efficient so that it is well positioned to benefit when economic conditions begin to improve," Chris Harte, the paper's publisher, said in a statement.

The paper is owned by Avista Capital Partners, who bought the paper less than two years ago for $530 million. Through mergers of various Twin Cities publications, the paper has been in operation for more than 140 years.

In an open letter to Star Tribune readers, Harte wrote the filing was "necessary to reduce [the paper's] operating costs, restructure [its] debt and create a financially viable business for the future."

Harte wrote that the filing will allow "business as usual," including print and online editions.

This filing comes about a month after the Tribune Company filed for bankrupcy—another sign that print journalism is a dying breed.