How Would You Salvage Print Journalism?

Last Updated Dec 8, 2008 12:23 PM EST

This is the kind of story no print journalist would want to break. Amid all the horrible news of newspaper layoffs, Chicago's Tribune Company is now considering bankruptcy.

According to Reuters:

  • Publisher and broadcaster Tribune Co has hired investment bank Lazard to look at a possible bankruptcy filing even as it continues talks with lenders to renegotiate its debt.
  • The privately held publisher of the Chicago Tribune and Los Angeles Times, which took on about $13 billion of debt when it went private last year under a deal led by real estate mogul Sam Zell, has also hired a legal counsel for a possible trip through bankruptcy court.
It was only a year or so ago that Sam Zell threw his hat into the media ring. But even the billionaire investor might not be able to salvage this old media conglomerate.

Everyone seems to be offering their two cents about what can and should be done to save print journalism. If you could step in as the CEO, what would you do to save your local metropolitan newspaper?