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Thursday, December 4, 2008

Could Fort Worth be left without a daily newspaper?

Here's the first paragraph of a story from yesterday's Editor and Publisher:

"Newspaper and newspaper groups are likely to default on their debt and go out of business next year -- leaving "several cities" with no daily newspaper at all, Fitch Ratings says in a report on media released Wednesday."

Further down in the story is this paragraph:

"Fitch rates the debt of two newspaper companies, The McClatchy Co. and Tribune Co. as junk, with serious possibilities of default. It also assigns a negative outlook to both the companies and the newspaper sector, meaning their credit ratings are likely to deteriorate further."

The McClatchy Co. is the parent of the Fort Worth Star Telegram. You can draw your own conclusions.

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