Despite how it might come off around here once in a while, Riptide deeply respects the duty of daily newspapers. Which is why the recent report
of credit raters Fitch Ratings is worrying. Fitch predicts that many newspaper chains will default, dissolve, or be liquidated and that "several cities could go without a daily print newspaper by 2010."
The two chains in the biggest trouble? The McClatchy Co. and Tribune Co. which own The Miami Herald and The Sun-Sentinel respectively. Both companies have had their debts rated as junk.
So, will a South Florida city be one of those with out a print newspaper? Well, we're pretty sure you'll be able to put 75 cents in that metal cube on the corner and get something out of it. Doomsday scenario if both companies fail? We're not sure, but we're betting someone, somewhere couldn't resist coming in to save at least one of the papers and possibly expanding it to cover both Dade and Broward. As it is now both papers are moving in a strange direction of consolidation, despite the fact that they're not corporate cousins.