In what was surely a surprise to nobody, the long-declining newspaper industry has finally gone the way of the dinosaurs.
The once-mighty Tribune Co. filed for Chapter 11 bankruptcy on Monday, effectively pulling the plug on two of its publications, the Chicago Tribune and Los Angeles Times, which have been hovering on life support for years.
The (for now) Tribune-owned Cubs and Wrigley Field, however will not be affected by the move, because everyone knows sports are hell of a lot more popular than cumbersome stacks of the dull printed word. Boooring!
Even the old standby, the New York Times appears likely to follow its print brethren to the poorhouse, with the company forced to mortgage or sell the new, fancy-pants HQ it bought for hundreds of millions of dollars it never had.
So, the newspaper biz has now joined the esteemed automakers and banks atop the ever growing list of major U.S. industries to crumble from a combination of stubbornness, greed, and ineptitude at every level.
Give you one guess who gets to bail them out.
The Taxpayer Shakedown
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