The closure of the Tampa Tribune may be a start of a new trend, as well as the continuation of an old one

You might have heard: The Tampa Bay Times bought and folded the Tampa Tribune, making Tampa a one-newspaper city

But did you know: The collapse of the print newspaper advertising industry hasn’t led to mass closures of newspapers as predicted, Joshua Benton writes. Instead, it’s led to a pattern of annual cutbacks, making the closure of the Tampa Tribune a bit different and the potential start of a new trend. Benton writes: “I don’t know when we’ll start to see layoffs and budget cuts turn into outright closures. … In one sense, the closing in Tampa is an extension of a decades-old trend. But in another, it’s an early sign of what the financialization of the newspaper industry could bring to lots of cities around the country.”

+ The Tampa Bay Times borrowed $13.3 million to purchase the Tampa Tribune, but that doesn’t necessarily represent the price it paid for the Tribune because it includes costs such as the fees for the transaction (Tampa Bay Times)

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from American Press Institute http://ift.tt/1O063kn