Gannett on its way out in 2011?

Some are saying Gannett, the largest newspaper publisher in the country, is struggling — severely.

A story on TheDeal.com by Richard Morgan states that “Gannett as we know it will be lucky to last through June 2011.” The article goes into great detail on credit issues and the like, none of which I actually really understood so I won’t try to explain it here.

To me, the point is not what Gannett could have done. It is useless to think about would-haves, could-haves. What can the company do to survive? Is it even going to?

The story ends with this graph:

Yes, newspaper companies are in such trouble that even Gannett, arguably best of breed, faces challenges few imagined two years ago. Yet the most immediate challenge has little to do with the news business — just as this story has little to do with the news business — but features forces so opaque and arcane that Gannett’s thinly staffed dailies will be hard-pressed to cover them.

Not too optimistic.

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