Four Newspapers Headed for Dire Straits

More closures to come

Some major newspapers have closed down recently, and it looks like they won’t be alone. Even the second-largest paper in California, The San Francisco Chronicle, is talking about the possibility of closing down or moving to an online-only operation.

24/7 Wall Street has several predictions about which papers will meet their end next. Here are the top five.

1. The Philadelphia Daily News

The Philadelphia Newspapers LLC, which recently filed for bankruptcy, owned two newspapers, including the Philadelphia Daily News. Just like the Rocky Mountain News in Denver and the Seattle Post-Intelligencer, The Philadelphia Daily News is one of two major newspapers in its city. The Rocky Mountain News shut down, and the Post-Intelligencer is planning to only publish online starting soon.

2. The Minneapolis Star Tribune

This newspaper has also filed for Chapter 11. The company last year made about half of what it made in 2007. Odds are that the Star Tribune will lose money this year if its ad revenue drops another 20 percent. The Star Tribune could become an all-digital paper, but supporting a daily circulation of more than 300,000 is too expensive. It is also one of two major newspapers in the same city, so chances are either it or rival the St. Paul Pioneer Press will fold. No amount of payday loans will stop it.

3. The Miami Herald

This 220,000 circulation daily is owned by giant media conglomerate McClatchy. The large company is possibly facing bankruptcy as well. It has been trying to sell the Herald since December. The online version of the paper is already widely read. There is a tiny chance it could merge with the Sun-Sentinel. However, it is more likely that the Herald will go online-only with two editions.

4. The Detroit News

Detroit, which is largely dependent on the auto industry, has been badly hit by the economic downturn. Unless the Detroit News can merge with the Detroit Free Press,which is owned by Gannett, the paper will probably fold. The paper has already cut back the number of days it is delivered, but that won’t save enough money to keep the paper open.