For those following the Journal Register Co.'s ongoing saga, you'll be interested to know that the lenders who could fold the whole company have agreed to extend a loan repayment deadline until Jan. 16, according to Editor & Publisher.
The newspaper company, which owns The Bristol Press and a number of other Connecticut papers, reported a net loss of $8.7 million in the third quarter, down from a net income of 411.2 million during the same period a year ago.
Bad as that sounds, though, it's typical of the industry, which is struggling to find a way to increase online revenues enough to make up for shrinking earnings from the honest-of-God, hold-it-in-your-hands, dead-tree version.
The company owes a ton of money -- more money that I can imagine -- because it bought a bunch of papers in Michigan just before the economy tanked. They are worth much, much less than the newspaper paid for them.
Then again, that's probably true of most every paper in America these days.
Anyway, it appears I'll have a job until mid-winter, with a little luck, which is pleasing to me even if the "you're a jerk" guy on here hopes I get canned soon.
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