Journal Register Company continues closing papers

The Journal Register Company, owners of 20 daily papers and hundreds of weeklies around the country, continues to struggle under falling revenue and mounting debt.
On Wednesday, the company announced that it will be closing eight weekly newspapers in New York state.

The closing of these newspapers, which involved an unknown number of layoffs, is ironic in light of Journal Register's buying spree in the 1990s and earlier this decade. It built a portfolio of about 300 weekly newspapers around the Northeast and Midwest, but loaded the company with a significant amount of debt as well.
With the decline of newspaper ad revenues coinciding with a recession and credit crunch, Journal Register's finances imploded, and its myriad acquisitions proved unsustainable.

The eight papers being closed in New York join over a dozen other papers the company was forced to shut down after it couldn't find buyers for them.
Not every paper in trouble has had to close, though. The company found a buyer for two daily papers and a handful of weeklies in Connecticut.

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