---
"title": "The declining value of U.S. newspapers"
"description": "Over the past two decades, major newspapers across the country have seen a recurring cycle of ownership changes and steep declines in value."
"date": "2015-05-22"
"authors":
  -
    "name": "Amy Mitchell"
    "job_title": "Former Director, Journalism Research"
    "link": "https://alpha.pewresearch.org/pewresearch-org/staff/amy-mitchell/"
  -
    "name": "Katerina Eva Matsa"
    "job_title": "Director, News and Information Research"
    "link": "https://alpha.pewresearch.org/pewresearch-org/staff/katerina-eva-matsa/"
"url": "https://alpha.pewresearch.org/pewresearch-org/short-reads/2015/05/22/the-declining-value-of-u-s-newspapers/"
"categories":
  - "Media Industry"
  - "Newspapers"
  - "State of the News Media (Project)"
---

# The declining value of U.S. newspapers

Over the past two decades, major newspapers across the country have seen a recurring cycle of ownership changes and steep declines in value.

The San Diego Union-Tribune was the latest example of this, as it [officially changed ownership hands](http://investor.tribpub.com/investor-relations/press-releases/press-releases-details/2015/Tribune-Publishing-Company-Completes-Acquisition-of-The-San-Diego-Union-Tribune-And-Its-Portfolio-of-Nine-Community-Weeklies-and-Related-Digital-Properties/default.aspx) Thursday for the third time in six years. This most recent purchase came from Tribune Publishing Co. for the amount of $85 million (including nine community papers). Still waiting for a buyer is the 96-year-old New York tabloid the Daily News, which owner Mort Zuckerman put on the sale block this spring. But there seems to be far from a stampede of interested buyers.

Steep revenue and circulation declines across the newspaper industry have left many newspapers struggling. Over the past decade, [weekday circulation has fallen 17%](https://alpha.pewresearch.org/pewresearch-org/journalism/2015/04/29/newspapers-fact-sheet/) and ad revenue more than 50%. In 2014 alone, three different media companies decided to spin off more than 100 newspaper properties, in large part to protect their still-robust broadcast or digital divisions.

Amazon.com founder Jeff Bezos may have stunned many with his $250 million purchase of The Washington Post, which was last sold at auction in 1933, but other recent sales of major papers show dramatic devaluation and suggest a tough road ahead for the newspaper industry.

[![Newspaper Sales](https://alpha.pewresearch.org/pewresearch-org/wp-content/uploads/sites/20/2015/05/PJ_15.05.20_newsSales_REV6.png){.aligncenter width=400}](https://alpha.pewresearch.org/pewresearch-org/short-reads/2015/05/22/the-declining-value-of-u-s-newspapers/pj_15-05-20_newssales_rev6/)