White House: We Can't Save Newspapers

A reporter pressed Press Secretary Robert Gibbs Monday on whether the White House is concerned about the fate of newspapers. Gibbs' reply suggested the White House hadn't thought much about the issue, "I have not asked specifically about assistance... I don't know what, in all honesty, government can do about it." (See Gibbs' full answer below).

It's a big week for the newspaper industry. The Boston Globe got a reprieve from parent company The New York Times this morning. According to the AP:

The Globe's owner, The New York Times Co., had threatened to close the newspaper unless its unions agreed to $20 million in cuts to annual expenses by midnight Sunday. The company showed labor negotiators a draft of a 60-day shutdown notice, required under federal law, and said it would file it if concession demands were not met. The Guild called that a "bullying" tactic.

Tomorrow, Senator Kerry will hold hearings on the fate of the industry. Last month, Kerry sent a letter to the Boston Globe family, stating his concern: