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Newspaper monitoring site passes grim milestone

A Victoria website reported a grim milestone on Monday: its 400th post on the continuing decline of the North American traditional media -- newspapers, magazines, and books. The site started just last November.

Traditional Publishing RIP is a creation of Dialect Communications Group, a web marketing company. According to Nik Szymanis, one of the site’s creators:

“We love books, magazines and newspapers, and we found it hard to just stand by and watch these headlines about bankruptcies and circulation cuts.

“Since one of the main pressures on traditional media is the internet, and since virtually all the news we consume is via the internet, it seemed only fitting to create this memorial online.”

In related news, on Monday afternoon CanWest Global closed in Toronto at 44 cents, down 9 cents (17%) on the day. Its high in the past 52 weeks was $6.11 and its low was 34 cents.

A report in the Globe and Mail indicates that CanWest’s lenders have put a cap on its line of credit, permitting it to borrow no more than $112 million between now and February 27.

Crawford Kilian is a contributing editor of The Tyee.

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