Last year, circulation dropped on average by 4.6 percent on weekdays and 4.8
percent on Sundays. Earlier this year, Detroit's two daily papers reduced home
delivery to three days a week, the Seattle Post-Intelligencer ended its
print edition, and the Rocky Mountain News shut down altogether. This
summer, The Boston Globe, which is losing more than $50 million a year,
survived only by giving in to the draconian cutbacks demanded by its owner, the
New York Times Company, while the Times itself, weighed down by the
Globe, had to take out a $250 million loan from Carlos Slim Helú,
Mexico's richest man, at a junk-bond-level interest rate of 14 percent a year.