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Put 'Em On Craigslist
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Last week, the New York Times said it'll be selling the Boston Globe and Worcester Telegram-Gazette. This week, there are reports that Tribune has hired bankers to sell its papers, which include the L.A. Times, Chicago Tribune, Baltimore Sun, South Florida Sun-Sentinel, Hartford Courant, Orlando Sentinel, Allentown Morning Call, Newport News Daily Press, a bunch of weeklies in Southern California, and Spanish-language papers in Orlando, L.A., Fort Lauderdale, and Chicago. Nice portfolio, but who in their right mind would buy a newspaper in 2013? It can only go down further, and it would be easier to buy radio or TV stations in the same markets and grow online news properties from them than to buy papers and inherit the cost of printing, distribution, union contracts, and overhead. (CNBC)
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