We heard about the Rocky Mountain News and Seattle Post-Intelligencer ceasing publications of a paper-based newspaper, opting to go online only. That’s too bad, but if the business doesn’t make sense, why not?
Now the Ann Arbor News is going away, after 170+ years:
The Ann Arbor News will close in July after publishing as the city’s daily newspaper since 1835, publisher Laurel Champion announced today.
Heavy losses in revenue drove the decision. Champion said the current “business model is not sustainable.” Advertising revenue slumped more than 20 percent in January compared to the same month last year.
“This isn’t about abandoning local journalism, it’s about serving it up in a very different way,” Champion told employees, as she visibly fought back tears.
A new Web-based media company called AnnArbor.com LLC will be launched later this year. In addition to publishing continuously online, AnnArbor.com will publish a print edition twice a week.
Champion, who will be executive vice president of AnnArbor.com, told News employees they can apply for positions with the new company, although job losses are inevitable. A total of 272 people work for the newspaper at both its main downtown Ann Arbor office and its Pittsfield Township printing plant. The newspaper has a daily circulation of nearly 45,000.
What does this trend do to the power of the press?