Senate panel to look at future of newspapers

Sen John Kerry (D-MA) will hold hearings in Washington next week on the financial problems facing the newspaper industry, as dwindling advertising dollars push many US papers to the brink of closure. He'd like to spotlight the financial plight of newspapers after The New York Times Co. threatened earlier this month to shut down The Boston Globe unless its labor unions agree to $20 million in cost concessions, including pay and benefit cuts. The Globe is on track to lose $85 million this year, executives told labor representatives. "America's newspapers are struggling to survive and while there will be serious consequences in terms of the lives and financial security of the employees involved, including hundreds at the Globe, there will also be serious consequences for our democracy where diversity of opinion and strong debate are paramount," Sen Kerry wrote in a letter sent to union leaders Friday. He also voiced his commitment to the industry and to ensuring that the "vital public service newspapers provide does not disappear." "The increase in media conglomerates has resulted in an increase in agenda-driven reporting and over time, if those of us who value a diversity of opinion and ideas, and are unafraid to be confronted with pointed commentary and analysis, do not act, it is a situation which will only get worse," Kerry wrote.