by Daniel Costello

One of the jokes at newspapers these days is that flat is the new up when it comes to advertising. If only....

I had to talk to a journalism class the other night about the future of journalism. One asked where I thought newspapers would be in ten years. I told them that after spending over a decade at them, I decided it was time to pour out the water in my optimisitic glass and look at the hard trurth: I don't think many of them will be here in five years no matter ten. It wasn't upbeat but it was honest.

Now, some industry watchers are anticipating a 40% decline in advertising during this economic cycle. On top of the industries other long term woes - and many newspaper companies high debt ratios - I just don't see how a list of bankruptcies aren't coming soon. Sad news all around.