More industry gloom and doom

Want to hear more gloom and doom about the newspaper industry?

"What is happening now [in the newspaper industry] is something new, something more serious than anyone has experienced in generations," writes Richard Perez-Pena in a New York Times article. Bits from his story:

+ Some of the largest papers -- including The San Francisco Chronicle, The Boston Globe and The Los Angeles Times -- have lost 30 to 40 percent of their circulation in just a few years.

+ Most papers have cut their newsrooms and simply done less reporting, especially overseas.

+ It could take five to 10 years for the industry's finances to stabilize and that many of the papers that survive will be smaller and will practice less ambitious journalism.

Click on the headline for the full story.