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Free Dailies Continue To Gain Momentum
Later this summer, there will be a second free daily newspaper in Boston. Russell Pergament, who started Metro Boston 6 years ago (which is owned by Metro International and the New York Times) and AM New York, indicated that he will start publishing a second freesheet called Boston Now. The venture is being financed by Dagsbrun, an Icelandic media company that intends to start free dailies in 8-10 U.S. cities. The announcement comes just a week after the $814 million write-down by the New York Times for its New England papers which include the Boston Globe. In that write-down, the Times stated that the Boston Globe and the Worcester Telegram & Gazette are worth only 40% of the $1.4 billion they paid for them.
[tags]Daily Newspapers, Death of Dailies, Free Dailies, Media In Europe, AM New York, Metro Boston, Russell Pergament, New York Times, Boston Globe, Decline of U.S. Newspapers[/tags]