Along with Charter Communications’ filing yesterday, this is the second of the big media companies to run for cover from their creditors in two days. Neither was unexpected, but both show the changes that are taking place in the communications industry. In Charter’s case there is some small hope that the reorganization (with the approval and willingness of the creditors) will result in a revived company with positive cash flow. In the Sun-Times’ case there is no such hope. What will be interesting is the knock-on effect for other, small communications companies – whether they are network providers or newspapers. In either case, it doesn’t matter: if you don’t have a modern approach to building revenue streams you can’t survive.
Chicago Sun-Times files for bankruptcy - The CNN Wire - CNN.com Blogs
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