ABSTRACT
Summary e U.S. newspaper industry is suering through what could be its worst nancial crisis since the Great Depression. Advertising revenues are plummeting due to the severe economic downturn, while readership habits are changing as consumers turn to the Internet for free news and information. Some major newspaper chains are burdened by heavy debt loads. In the past year, seven major newspaper chains have declared bankruptcy, several big city papers have shut down, and many have laid o reporters and editors, imposed pay reductions, cut the size of the physical newspaper, or turned to Web-only publication.
