We're a bit late in noting this, but it should be noted that many small towns and rural areas once served by Journal Register Co. newspapers are no longer, because the bankrupt company has closed them in the last few weeks. It's unknown just how extensive the closings are, or how great their impact is, because the company "has provided no details to the public," reported Erik Sass of Media Daily News. The company's papers are mainly in the Northeast and Michigan, as shown on the company map. "The closing of these newspapers, which involved an unknown number of layoffs, is ironic in light of Journal Register's buying spree in the 1990s and earlier this decade. It built a portfolio of about 300 weekly newspapers around the Northeast and Midwest, but loaded the company with a significant amount of debt as well," Sass writes. "With the decline of newspaper ad revenues coinciding with a recession and credit crunch, Journal Register's finances imploded, and its myriad acquisitions proved unsustainable." (Read more)
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