The Managing Board explains the financial rationale behind its decision to suspend Friday newspapers
In a move not rash, but calculated we will literally say, "Stop the presses," this afternoon to halt any issues of The Cavalier Daily from being printed tomorrow and Fridays for the foreseeable future. This action is more drastic than that taken last Friday by The Daily Illini, the student newspaper of the University of Illinois. More than a quarter-million dollars in debt, The Daily Illini printed a blank Friday front page save an editorial calling on students and the administration to chip in. Resourceful, yes - at the cost of journalistic independence.
The Cavalier Daily is in less dire straits. But we are taking more proactive measures to preserve a solvency for which we alone take ownership. Stacked against costs of printing, distribution and rent - we pay for our space in Newcomb - our sole revenue comes from advertising. We believe this financial model will remain sustainable in the coming years, as it has for more than a century.
In the short-term, though, collecting invoices from advertising firms takes time - often one-to-two months, a time frame which is not always afforded to maintain a daily newspaper. And, with difficulties still lingering from the recession, we are not taking the day off, but rather deeming it responsible to cut Friday papers to have a winning box score in our week-to-week finances.
All your favorite content - news and sports stories, columns and comics, and of course editorials - will still be available Fridays on cavalierdaily.com. The print edition, however, will no longer be available for the time being. The Thursday newspaper is thus the new weekend edition, which makes sense, as everyone in college knows the weekend starts Thursday.