It looks like the Miami Herald might be for sale, according to a report published on Friday by the New York Times. The sale, if there are any serious bidders, and if it occurs at all, would be directly related to the present Miami real estate market.
The Miami Herald apparently has relied on heavy advertising of real estate for a substantial part of its profits. When the real estate market went into a deep recession, those profits fell steeply, and as a result the paper might be for sale.
Owned by the McClatchy Company, the Herald suffered substantial losses this year. In Florida, the parent company experienced a decline of 22.5 percent in revenues from advertising, whereas ad revenues in other parts of the country declined 14.7 percent.