Media: GateHouse can’t afford to stay open on Monday anymore

Fraom the Marion (Ill.) Daily Republican:

GateHouse Media, Inc. and the Marion Daily Republican have announced that the 97-year-old Marion Daily Republican will go to a five-day publishing week beginning the week of July 7. The newspaper will publish on a Tuesday through Saturday schedule.

“With a soft economy, the rising cost of fuel prices and a substantial increase in the cost of newsprint, we feel like this is a necessary move,” said MDR publisher Tim Petrowich.

Of course, it doesn’t help when your entire business strategy is to go into debt buying all the newspapers inside a geographic area and keep investors happy with a dividend that’s mostly supported to cost savings from layoffs and early retirements.

Of course, that’s not mentioned in the article.