The Boston Globe May Be No More

I was a rookie broker in Boston and I loved that Boston was an authentic two-paper town. Whenever you got on the T you could easily find a Boston Herald but it was much harder to find a Boston Globe. The Herald was far more populist and conservative, while the Globe was a bastion of liberalism. It’s hard to imagine that the Glove may soon go away.

The paper’s circulation dropped 14 percent in the most recent six-month period. The Globe is expected to lose $85 million this year, the company says.
Boston residents have long resented the takeover of the Globe by a company based in New York, with which the region competes in sports, banking and cultural bragging rights.
The notion that Boston, home to some of the country’s top universities, could lose its major daily would have been unthinkable before the recent nationwide plunge in advertising revenue. That dive has triggered a wave of newspaper bankruptcies and the closing of the Rocky Mountain News and the Seattle Post-Intelligencer.
A Globe shutdown would leave the city with only one daily newspaper, the tabloid Boston Herald, which has just 10 news reporters and is battling its own financial difficulties.

I can’t help thinking of this scene:

Posted by on May 4th, 2009 at 1:15 pm


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