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Shooting for stars



suited the industry due to the belief that newspapers are placed highly on the sphere of social influence.

Not for long, global media outfits shed off their cocky confidence and started reeling in the onslaught of social media.

Since the beginning of 2008, the United States, for instance, had major metropolitan dailies shuttered or drastically pruned including the Rocky Mountain News, closed in February, and the Seattle Post-Intelligencer, reduced to a bare-bones Internet operation.

A number of other large, financially troubled newspapers sought buyers. One of the few large dailies finding a buyer is The San Diego Union-Tribune, which agreed to be sold to a private equity firm for what The Wall Street Journal called “a rock-bottom price” of less than $50 million that was essentially a real estate purchase. The newspaper was estimated to have been worth roughly $1 billion in 2004.

Large newspaper chains filing bankruptcy since December 2008 include the Tribune Company, the Journal Register Company, the Minneapolis Star Tribune, Philadelphia Newspapers LLC, Sun-Times Media Group and Freedom Communications.

The 19 year old Daily Tribune, as most Filipino broadsheets, existed hand-to-mouth until around 2016 when the impact of online media on readers primarily the youth had led advertisers to veer away from traditional media realizing its decline in preference as a news source.

On 01 June 2017, a revitalized Daily Tribune was born by combining forces with Concept and Information Group, publisher of Concept News Central which has been a prime mover of Internet-based news reporting.

The result was a multimedia package that harnesses the rich experiences and skills of both companies in the practice of uncompromising journalism and the new breed of information dissemination.

After a year, the blending was prime roast.