Well, now Gannett Co. says it will not shut down the Tucson Citizen on Saturday as planned. Seems there are some buyers expressing interest in the property.
I speak (technically I type, but let’s not get hung up on that) from experience when I offer this snippet of advice to any would-be buyer: Take a good, close look at the books before you open up the checkbook. This coming from a guy who wishes that all newspapers would live long and prosper from this day forward. But there is a reason newspapers are folding left and right. Actually, there is more than one reason: Advertising revenue is down pretty much across the board but especially in daily newspapers; circulation is down; and costs such as fuel for delivery and newsprint haven’t gone down, at least not enough to make up the difference.
As a former publisher once said not too terribly long ago: “You don’t cut your way to growth.”
See the report.