Judged by the record, the odds against a newborn daily newspaper's surviving infancy are astronomical. In Phoenix, Ariz., those long odds overtook the nation's youngest metropolitan daily, the Arizona Journal. Scant weeks short of its first birthday, the Journal found itself out of print, out of money, heavily in debt, and laid out for burial. About all that kept the infant paper out of the grave was a flicker of outside interest.
The Journal's quickstep march to disaster provided one more lesson in the brutal economics of daily journalism. Before starting the new paper. Publisher (and onetime Arizona attorney general) Robert Morrison,...
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