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Christian Science Monitor to End Daily Print Edition (Update3)
From: David Farber <dave () farber net>
Date: Tue, 28 Oct 2008 19:32:02 -0400
Christian Science Monitor to End Daily Print Edition (Update3) 2008-10-28 21:16:35.850 GMT (Adds historical details starting in first paragraph.) By Tim Mullaney Oct. 28 (Bloomberg) -- The Christian Science Monitor, the newspaper started 100 years ago by church founder Mary Baker Eddy, will stop printing a daily edition next year to focus on the Internet, the first national newspaper to take such a step. The move follows years of losses at the non-profit newspaper, which is subsidized by the Church of Christ, Scientist. The Monitor expects to lose $18.9 million in the year ending April 30. Its annual budget is $34 million, Editor John Yemma said in an interview. While some newspapers have dropped Monday editions to save money, the Monitor's shift to Web-only isn't likely to be copied soon by larger, for-profit dailies. Online ads provide no more than 10 percent of sales at most newspapers, too little to support editorial staffs, said John Morton, president of the consulting firm Morton Research Inc. in Silver Spring, Maryland. ``There may come a time when you can envision it happening, but not soon,'' Morton said. ``The model is still substantially based on print.'' The Monitor will probably cut its editorial staff of 95 by 10 percent to 15 percent as part of the transition, Yemma said. The newspaper will initially lose more money by giving up the $240-a-year print subscription than it will save, he said. ``We hope to make it up,'' Yemma said. ``The next century's model has to be one where print is not at the center of it.''
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