US newspapers struggle to find path in digital age

Washington

THE news remains mostly bleak for the American newspaper industry, struggling over the past decade to adapt to the new digital landscape.

The sale of the San Diego Union-Tribune in early May for US$85 million underscored the horrific slump in the value of "old media" companies in recent years. Although the sum paid by Tribune Publishing was only marginally below the US$110 million in a 2011 sale of the San Diego group and excluded some valuable real estate, the newspaper was believed to be worth as much as US$1 billion as late as 2004.