Death of (yet another) newspaper

Another one bites the dust.

By the time you read this, news has probably spread – through the Net, no less – about the latest casualty resulting from the double whammy of lower advertising revenues and the current credit crunch.

The Tribune Co., which publishes the renowned Chicago Tribune and Los Angeles Times, officially declared bankruptcy today (US time Dec 8), after reports over the weekend had hinted at its financial troubles.

Even with the current doom and gloom, the news of the biggest bankruptcy of a news outlet in years still ranks as one of the most alarming to come from troubled US newspapers of late. …