pimg src="http://cache.gawker.com/assets/images/2008/12/custom_1228412062349_newspapers.jpeg" width="340" height="202" align="left" hspace="4" vspace="2"/More sunny economic news for the newspaper industry: yesterday the financial ratings firm Fitch a href="http://www.editorandpublisher.com/eandp/news/article_display.jsp?vnu_content_id=1003918781"put out a report /apredicting that "several cities could go without a daily print newspaper by 2010." Oh joy! You won't have to complain about your shitty local fish wrapper much longer, if you live in "some cities" (*a href="http://gawker.com/5051147/a-city-without-a-paper"NEWARK/a*, ahem). This would really be a serious change in American civic life, people. Crooked city councilmen and religious nut school board members are bound to run wild without emany/em reporters telling people what they're up to. Well, buck up, doomed papers in "some cities"mdash;every other newspaper will have a hellish year, too:/p blockquotepFitch rates the debt of two newspaper companies, The McClatchy Co. and Tribune Co. as junk, with serious possibilities of default. It also assigns a negative outlook to both the companies and the newspaper sector, meaning their credit ratings are likely to deteriorate further.../p pFive of the top 10 ad categories, accounting for more than 40% of ad spend will be down, Fitch predicts: retail; automotive; financial services; general services; and airlines, hotels and car rentals./p/blockquote pNot general services! [a href="http://www.editorandpublisher.com/eandp/news/article_display.jsp?vnu_content_id=1003918781"EP/a]/p br style="clear: both;"/
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