Is the writing on the wall for Fairfax newspapers the Age and the Sydney Morning Herald after Bill Gates own Seattle morning newspaper decided this week to quit print for online after 146 years.
According to Reuters the Hearst Corporation in the USA has confirmed that they plan to roll out the final print edition of its ailing 146 year old Seattle Post-Intelligencer this week and then move the entire operation online, ending speculation about the fate of the 146-year-old newspaper as crumbling advertising and the Internet wallop the industry
In Australia both Fairfax and News Ltd newspapers are witnessing declines in advertising and circulation as consumers go online to niche web sites for information.
The Post-Intelligencer, which Hearst said is the largest daily newspaper to migrate entirely to an online version, underscores the depth of a sector downturn as readers increasingly get their news online and a deepening recession undercuts advertising spending across the globe.
Frank Bennack, chief executive of the Hearst Corp, said.”Our goal now is to turn seattlepi.com into the leading news and information portal in the region.”
Hearst may also close the San Francisco Chronicle — which lost more than $50 million in 2008 and may lose more this year — unless it can save money via layoffs and other cost cuts.
last month, EW Scripps folded the 150-year-old Rocky Mountain News in Denver. On Monday, a group of its former journalists and three investors announced they would launch an online news Website aimed at the Denver market, if they are able to sign up 50,000 subscribers by April 23.
The site, indenvertimes.com, will focus on local news and feature live interactive chats, mobile feeds and advanced technologies, the group said in a statement.
For more see Reuters at www.reuters.com