Economy Forces Newspapers Cut Backs

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The newspaper industry has taken its share of hits in these tough economic times.

A drop in subscribers and advertising revenue, along with a rise in Internet use, are all being blamed for financial troubles.

Click play for a CBN News interview with Dan Gainor of the Business & Media Instititute.

Just last week, the Tribune Company, which publishes well-known papers like the Los Angeles Times and the Chicago Tribune, filed for Chapter 11 bankruptcy.

The New York Times company plans to borrow millions of dollars against its new headquarters to help pay off debt.

And the 100-year-old Christian Science Monitor announced plans to actually stop printing newspapers next spring.

It will become the first national U.S. newspaper published only on the Internet.

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