A McLatchKey clusterfuck in Charlotte coming up

 The Charlotte Observer, nominally owned by McClatchy but really by Alden Chatham Asset Management, is about to implode.

Per a Substack run by a presumably online-only competitor, The Charlotte Ledger — or maybe the Substack IS??? the online paper ...

The Observer is going to cut to just 3x a week in print.

And, wait, that's not all.

We all know there is no DeJoy, or rather, too much DeJoy, in the Mudville of the U.S. Postal Service.

McLatchKey in Charlotte is delivering those 3x papers a week via the USPS. No more carriers.

Sidebar: Where in the FUCK are they being printed if they have 2 p.m. deadlines? Atlanta? They've obviously gotten rid of their own press, which for a daily paper in one of the top 30-35 metro markets in the US is incredibly stupid right there.

Here's the Observer's announcement. The change starts in September.

That said, this Ledger does run off Substack, it appears. That means you're paying overhead to Hamish et al. And charging just $99/year for the half that is paid. SMH. The Way of Life sub-Substack (it's a newspaper, not a newsletter) is paid-only, with 22K subscribers. OTOH, that's $2.2 million, if those subscriber numbers are current and no churn.

They say, on the first link, that the Observer is down to less than 40 journos. OK, at $50K a year, and allowing Hamish his cut off that $2.2 million plus the partially paid biz Substack, you've got the same number yourself.

However, my back-of-envelope calculation doesn't allow for the employer share of FICA taxes, nor for unemployment insurance program payments to the state, nor any state business taxes on the Ledger, nor any property taxes if it has a physical newsroom. (Also, are these sales subject to North Carolina sales tax?) It also presumes that there's no health insurance and these employees have to Obamacare. It also leaves no room for higher pay for editorial management. 

So, while the Observer may be imploding, and may have shot itself in the foot on the printing press closure, whenever that happened, it's not like the Ledger is necessarily all that and a pack of smokes either. And, it's been around four-plus years.

Why aren't you charging for sports if you are presumably, going beyond "just the box scores"?

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Update: Re the suggested collection, Teh Google said Chatham is going in the crapper in other ways, merging McClatchKey with the parent company of the National Enquirer. Well, maybe not. The story said that "accelerate360," Chatham's glossy mag group, would specifically exclude the Enquirer and some other mags, and also by name exclude David Pecker.

We'll see how long and well that lasts.

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Sidebar: I appreciate the correction from Alden to Chatham, which error I shouldn't  have made. But, it reminds me ... moderation here is being flipped on.