Pioneer Press makes Top 10 failing newspapers list
The non-stop doomed newspaper predictions continue. This time it's our local Pioneer Press.
Real Clear Politics (via Minnesota Independent) listed the Pioneer Press No. 8 on their "Top 10 Newspapers in Trouble". They predicted the paper will go "belly up" alongside bigger papers like the LA Times and Chicago Sun-Times.
Its Twin Cities rival Minneapolis Star Tribune filed for bankruptcy in January, but the smaller Pioneer Press may go belly-up first. Owned by Dean Singleton's Media News Group, the Pioneer Press is suffering the same financial crisis that's plaguing the entire company - heavily leveraged, with loans from Hearst, Gannett and even Bill Gates, and short on cash. And while the Star Trib is trying to get its act together under bankruptcy protection, the Pioneer Press is sinking deeper. This sets the trend of the smaller papers struggling to survive in what's left of two-newspaper towns.See the rest of the Top 10 list here.