Grim news continues for newspapers

Newspaper companies continue to struggle as advertising revenue and circulation numbers remain on the decline.
This week, The Washington Post Company's reports that its fourth-quarter earnings dropped 13 percent. Both revenue and profit continues to decline in the company's newspaper unit, which includes The Washington Post.
Journal Communications also reported that its January revenue is down 3.1% compared to last year. That decline is due to weak classified advertising at the Milwaukee Journal Sentinel.
Meanwhile at The New York Times Co., a pair of hedge funds bought about 19 percent of the company's stock in the last two months.
A New York Times story says, the funds, Firebrand Partners and Harbinger Capital Partners, contend that the company would be better off selling some assets like its new headquarters building in Midtown Manhattan, The Boston Globe and several smaller newspapers. The proceeds, they argue, should be invested in Internet businesses.