Print's Black WednesdayS

Earlier today, the Atlanta Journal-Constitution announced that it's cutting almost 200 jobs-8% of its total workforce-due to "tough economic times." This afternoon, the Wall Street Journal sent out a staff memo saying that the paper is eliminating 50 editing jobs for "strategic" reasons. Less than an hour later, word came that Greg Osberg, president and publisher of Newsweek, is stepping down with no clear successor. (Newsweek editor Jon Meacham's crusade to appeal to the youth apparently hasn't taken effect quickly enough for Osberg, a digital advocate). This has been an extraordinarily bad day for print media by any standards. But take a look at the chart above-an illustration of newspaper industry stock prices over the past five years. There will be many more bad days to come.