Short-run Decisions Threaten Papers' Long-run Viability.

The article analyzes the history of the newspaper industry and attributes the current crisis to managerial short-run decisions from 1985 to 2004. It attributes reduced local market growth to declining circulation and maximized advertising prices. Reasons cited for the decline in circulation include clustering or buying newspapers within the same region to cut costs and reduce competition, lower quality newspapers because of lack of investment in the newsroom and rising costs of advertising.