Not a surprise, but Friday (hat tip to Reflections of a Newsosaur) JRC, owner of the Oakland Press in Pontiac and a number of weekly and daily newspapers around Michigan and the country, filed bankruptcy.
Journal Register Company
And more here on JRC
They have hacked and slashed their staffs and newspapers to the bone and this was the final result. Sad.
I guess that unpaid Citizen Journalist idea hasn't caught on yet.
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"The business achieved a 14.3% operating profit on sales of $428 million in the last 12 months"
Lots of businesses would have loved to make a 14% profit in 2008.
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