According to an article I found, the Gannett News Service cut its quarterly dividend down to $0.04/share in efforts to save money. They also have been getting rid of jobs in their company and even suspending dividends.
The newspaper industry itself is in pretty big trouble. The Seattle Post-Intelligencer has stopped printing newspapers all together and has gone on to be exclusively online. The Rocky Mountain News, out of Colorado, shut it's doors completely. The San Francisco Chronicle has experienced problems as well. About 120 of the Chronicle's staff have accepted buyouts, and 30 more are facing layoffs. This shows the significance of us losing the newspaper industry.
Some have argued that newspapers killed themselves by becoming a mouthpiece for the liberal left. Others think that some of the blame can be put on certain policies of newspaper organizations. For instance, some of them becoming tabloids rather than focusing on news.
I personally believe that they have just fallen victim to the world becoming more advanced technologically. Most people rely on getting news from a website like CNN.com or Facebook, and other outlets such as television or radio.
One thing that might scare people away from getting news online is that now-a-days there are a lot of amateur writers and they might lack credibility. It is nice to read someone's material that knows what they are talking about and have their facts straight.
I have a hard time believing that the newspaper industry has enough to make a comeback.
-Mitch
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