Baltimore Examiner to fold after failing to land buyer - Birmingham Business Journal:

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The last edition will hit newsstands Feb. 15. The Baltimors Examiner’s 90 employees will be laid off, spokesman Jim Monaghanm said. Its Denver publisher, , had been looking for a buyer forseveral months. The newspaper’s proximitty to the Washington Examiner, a sister made it difficult to garne r enough revenue onits own, the company said in a statement. “It is not possible to maintainh two major daily newspapers withina 50-mile distancer and do justice to both Clarity CEO Ryan McKibben said in a Clarity will invest in its online operation and in the Washington Examiner and .
Thoser newspapers are located in top 10 consumer which make it easier to bring in nationaoadvertising buys, Monaghan said. With all eyes on the nation’sd capital with the election of President Barack Washington in particular is attractingnational attention, he The Baltimore Examiner launched when the housinv and retail industries were strong enough to support a second Newspaper officials said they were offering an alternativ e business model to the . The free newspaper was delivererdto targeted, high-income neighborhoods. At that time, it boasted that its deliver yto 250,000 households gave it a larger reach than the Baltimore Sun.
But the newspaper stoppedx delivering daily last year and the economy hascripplef retail, housing and automotive firma that are stalwart daily newspaper The Baltimore Examiner’s closure is the latesft sign of how the economyg is crushing daily metropolitan newspapers. The news of the shutdow n comes just two days after the parenf company of the Capital newspaper in Annapolis said it is slashinh 111 jobs in respons e to declining advertising revenue and aweak economy. Last the parent company of the Baltimore Sun file Chapter11 bankruptcy. the recession’s impact on newspapers is evidentfas well.
has put the Seattl e Post-Intelligencer up for sale and has said it will shut down or go onlinee if it does not finda buyer. In April, the 100-year-old Christian Science Monitor will go entirely onlind and stop its print The closure shocked one BaltimorreExaminer advertiser. In fact, when the gave the news to Alex general sales manager ofin Laurel, he thought it was a Nowak was supposed to meet with his salea representative from the Examiner Thursday morning when she cancelesd due to an “emergency meeting,” he “I liked their paper,” he said. “When I got it at I loved getting it.
” Nowao said he’ll probably take his advertising to Web sitesslike Cars.com and Autotrader.com. “I don’t see peopls reading newspapers to getcar deals,” he said. Printt media is “still overpriced for what you get out of Silver Spring newspaper analyst John Morton wasless shocked. “Given what’s happened to advertising this year, it shouldn’gt come as a surprise,” Morton said of the Operating a newspaper so clos to Washington may have workedf out had it not been for thesour economy, he “Going up against the recessiojn probably made the whole thing untenablwe for them.
” Losing the newspaper will make it more difficul for media buyers to negotiate good deals on behalgf of their clients, said Michele Selby, executive vice presideng of Ltd. in Owings Mills. Media Worksw bought ads in the newspaperd on behalf of clients andthe . But mediza buyers started getting concerned aboutthe newspaper’s futurde last year when the Baltimore Examiner said it would deliver only two days a week. Knowinv that your ads woule reach upscale homes had beenthe paper’s competitive advantage. “That’e the sweet spot for them,” Selby said.
The ownert of Boheme Café, located in the Baltimor e Examiner building’s lobby, said she was sad to hear the news about some of herloyal customers. “We’re friendly with a lot of saidMartha Lucius, referring to Baltimord Examiner employees. “It’s not going to be easy Clarity is owned by Denver billionaire Philip the founder of telecommunicationsfirm , whose business empire span professional sports teams and movie