In the face of falling revenue and evaporating advertising revenue, major news media companies including the Tribune Co. and the New York Daily News are seeking partnerships with other media to maintain global and national coverage.
The question is, will this be enough to save them?
Shrinking revenue is the reason that big U.S. newspapers are joining forces to ensure global coverage, per The Wall Street Journal. For example, Tribune–which owns the Los Angeles Times and Chicago Tribune–is in talks with the Washington Post Co. to use its foreign and national coverage. Similarly, the New York Daily News has reached an agreement with start-up GlobalPost to use its network of part-time foreign correspondents. Such agreements would revamp foreign news ops at three of the nation’s 10 largest newspapers.