5/6/09
The Boston Globe and the union reach agreement today. For the time being, the New York Times Company halt shutting it down. But the New York Times has its own problem of diminishing readership and advertising income. The San Fransico Chronicle is facing being shutted down pretty soon. Its owner, The Hearst Corp has previously shutted down the Denver Rocky Mountain News and Seattle Post. Another big media company, The Tribune Company has already filed bankruptcy. Its main business, Los Angeles Times and Chicago Tribune has been losing money. Newspaper publishing industry is another questionable industry after auto industry and financial and banking industry.