More Bad News on Fountain Street

Recent regulatory filings by the ProJo's parent company, A.H. Belo, show that the paper's revenue dropped 13.3 percent last year.

And while insiders have long groused that the company's crown jewel, the Dallas Morning News, has been a drag on the company - and an undue burden on the ProJo - the filings show the Texas paper actually outperformed its Providence cousin - with revenue dropping 11.6 percent.

The ProJo fared much better than the third paper in the Belo empire, the Press-Enterprise of Riverside, California, which lost a staggering 21.6 percent.

Belo is imposing - or asking unionized employees - to accept salary cuts of 2.5 to 15 percent in a bid to get costs under control. The company is also asking veteran ProJo staffers to accept a delayed payments to their 401(k)s. The moves follow a series of layoffs and a hike in the newsstand price of the paper.