4. Miami Herald
Circulation: 210,884 (12% decrease since 2007)
Sunday Circulation: 279,484 (10% decrease since 2007)
Parent Company: The McClatchy Company
Parent Co.'s Revenue in 2008: $1.8 billion
Parent Co.'s Current Stock Price: $0.55
McClatchy made a huge mistake to purchase Knight-Ridder's newspapers in June 2006, and is now paying for it dearly. Its stock value is below $1 and it has been forced to make major cutbacks at all of its newspaper properties that also include the Fort Worth Star-Telegram, Kansas City Star and Sacramento Bee. The Herald is on the market, though no buyer has come forward yet. Coupled with the gloomy outlook in Florida's real estate market, it's doubtful that the paper could hold out much longer without a new buyer and cash injection.