The Los Angeles Times' Journey Down into the Abyss

It wasn't long ago that we learned that the Tribune Company, which owns the Los Angeles Times, filed bankruptcy protection. I did some research to discover their astonishing drop in circulation:

Patrick Frey, who blogs under the moniker "Patterico", just did a comprehensive analysis of the abysmal track record of the Los Angeles Times in 2008. It's an absolutely fascinating read and a wake-up call for all American newspaper publishers. But will any listen? Some cynically say there's no need because now with Obama in power such newspapers can apply for a financial bailout and become official state-owned mouthpieces, akin to Izvestia and Pravda in the old USSR. They won't have to change their editorial policies and shoddy journalism one bit, as they've been acting as unofficial propaganda arms of the Democrat Party for years.