MMMM #23 - Bankruptcy

The bankruptcy filling by The Tribune Company today has wide ranging implications for the rest of the print media, and for anyone who believes knowledge is power. The publisher of one of the Tribune papers, The Baltimore Sun, tried to steady the ship that's served that city for 171 years in a letter to readers. And it is true that bankruptcy will give the company breathing room to get its financial house in order. That, of course, will include cutbacks...and those will reduce the quality or at least the quantity of the news output. That reduction will trickle down to the broadcasters who depend on print for stories and story ideas, and to the bloggers who love pounding the so-called "Mainstream Media" while depending on that same media for much of the material they comment on. [EXTRA: There is a bizarre Chicago Tribune connection to today's indictment of Democratic Illinois Governor Blagojevich. It sounds like the plot out of a novel, but here one sentense from the Christian Science Monitor story on the development: The United States Attorney’s office in Chicago also charged the Democratic governor with threatening to withhold state assistance in the Tribune Company’s effort to sell Wrigley Field as part of attempt to get the Chicago Tribune to fire editorial board members who had written critically of him.]

Wow!

[The Monday Morning Media Memo is a regular feature of this blog. It was delayed this week by a sick day.]