Fitch Ratings: 'Several cities' could have no daily paper as soon as 2010

Given that we've speculated on this possibility before, it's not that surprising. But to actually see it in print snaps it into focus.

http://www.editorandpublisher.com/eandp/news/article_display.jsp?vnu_content_id=1003918781

 

Well, that's just wonderful, isn't it?

 

So if that happens does someone start over and do it the right, fiscally responsible way?

 

I think people are going to be very surprised how this will happen in the bigger cities before it happens at smaller papers.

 

Sure... If you're looking for a huge tax write-off.

 

I mean start from the ground up. On the cheap. I mean, someone is going to think they can step in and fill the void, right?

 

I think certain markets will be protected to a certain degree (NYC, DC, Chicago), but it's the cities on notch below that are going to be the hardest I think like Detroit and Cleveland.

 

Cleveland is a notch above.

 

Uhh... Not unless they're incredibly rich and incredibly stupid.

 

See, I think someone would be.

 

This is where journalism becomes web-only and the idea that you can make a career out of journalism ceases to exist.

 

I agree with the former, but not necessarily with the latter. Yes, the idea that you can step out of j-school and work for a large organization ceases to exist. The idea that you could become an entrepreneur, making you own news site focused on a particular topic or locality, is out in force. There is going to be a demand for news and information that will need to be filled. The question is how, and how the economic model would work, enough so that someone could make a living (though given what a lot of smaller papers pay, the economics might not be as hard to match as you might think). The transition is wrenching, and I don't mean to minimize its impact. But something will replace it. It's just not going to look like what we know today.