![]() "Those companies that have put a lot of debt on the balance sheet certainly have a lot less flexibility and a lot less room to endure this type of pressure," Simonton says. Mike Simonton, who follows the industry for Fitch Ratings, says the debt puts added pressure on daily papers. Their owners have accumulated more and more debt in recent years. The recent bankruptcy filing by the Chicago Tribune's parent company highlights another financial hurdle facing some newspapers. For every customer they have on the Internet, they make about 10 to 15 cents." "For every customer that they have print newspaper, they're making about a dollar. "Newspapers are making money off the Internet they're just not making it in a way that they make it in the kind of margins that they make from a print newspaper," says Mark Fitzgerald, an editor at large with Editor & Publisher magazine. But now the industry faces a crowded marketplace that includes a big gorilla: the Internet.Įxperts say the problem is that newspapers haven't figured out how to make a lot of money off online content. It used to be that newspapers competed largely with each other for classifieds and advertising revenue. "We think it's time to quit sticking our heads a bit in the sand, taking incremental steps, and, frankly, relentless across-the-board expense cuts in our business, in the name of hoping that it comes back to the way it used to be in years gone by," Hunke says. Under the new plan, the Detroit papers will be delivered only three days a week - Thursday, Friday and Sunday - with a scaled-down print version available at newsstands the rest of the week.ĭetroit Free Press publisher David Hunke says the papers have no other choice. So, it's a grand experiment that is about to play out in Detroit. The industry as a whole is facing declines in circulation and ad revenue. Details are in the story below.Beginning in March, The Detroit News and Detroit Free Press will be delivered only three days a week - Thursday, Friday and Sunday - with a scaled-down print version available at newstands the rest of the week.Įxecutives at Detroit's two daily newspapers, the Detroit Free Press and The Detroit News, announced Tuesday that they plan to drastically cut back their printing operations and beef up their Web presence.Īnd these papers may not be the last to make this kind of change. In 2021, the documentary won the $200,000 Library of Congress Lavine/Ken Burns Prize for Film, a competition designed to help bring historical documentaries to the finish line.Īdditionally, distinct from the film festival, the filmmaking team has scheduled some more in-person screenings of the documentary. From the controversial appointment of an emergency manager to the enactment of the so-called Grand Bargain, the film offers new insights and behind-the-scenes details of the crucial juncture in the city’s history. “Gradually, Then Suddenly” tells the dramatic story of Detroit’s 2013 bankruptcy, framing the city’s dire financial situation as a canary in the coal mine for municipalities nationwide. More details on how the virtual access works are available here. Those who reserve tickets will receive an email that allows access to the film. Reservations for the virtual screening can be made now at the festival's site. The new availability will last for two weeks, or until the capped number of streams is reached, whichever comes first. In a recent column, Kresge Foundation Rip Rapson described "Gradually, Then Suddenly" as "gripping" and timely. Now The Kresge Foundation has partnered with Freep Film Festival and the filmmakers to make more free views available to Michigan residents. Additionally, the film - which provides a detailed look at Detroit's historic bankruptcy - was also available virtually through the festival, and those streaming tickets also sold out on Wednesday. If you missed "Gradually, Then Suddenly: The Bankruptcy of Detroit" during Freep Film Festival, there is a new opportunity to watch the documentary at home - for free.Īll advance tickets for the two film's two opening night showings at Freep Film Festival on Wednesday were quickly gobbled up.
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