Publishing

Sun-Times Media, parent company of the Chicago Sun-Times, has filed for Chapter 11. No real surprise there, given that the paper had been said to be on rough ground for awhile. The company says it's got enough cash to keep working for awhile, though, so this doesn't mean it's going to fold. So now both the Sun-Times and its arch-rival, the Chicago Tribune, have filed for bankruptcy, and it's probably safe to say only one of the papers is going to survive in the end – two-paper cities are on the endangered species list nowadays.

Da Capo Press mines green from vegan cookbooks: A look at how identifying and superserving a very specific target audience can help you reap profits. Da Capo Press, which has been around for awhile, is defying the economic downturn by serving an audience with very specific needs that they can't find easily in the mainstream marketplace. An important lesson for anyone starting up a business – or looking to turn one around. 

Anime/Manga

Kadokawa Shoten has set up its own gaming subsidiary. Given the close synergy between anime and games that has always existed, I'd say we may see more companies going the Kadokawa route in the future, rathe than leasing their product to third parties (and reducing the possibility of a good anime resulting in a poorly-received game, as was the case with Fullmetal Alchemist). More quality anime games being produced in Japan will also increase the chances of them being released stateside.

Video Games

So, is Sony cutting the price of the Playstation 3? No, instead, it's dropping the price of the Playstation 2 to 99 dollars. The move is, quite frankly, a bit baffling, considering that the Playstaton 3 still needs to stay competitive in a gaming marketplace where its competitors are under $300. Is it a way to appeal to recession-strapped families looking for an affordable video game system for the kids? Is it a stunt preceding the real announcement, a price drop for the PS3? The company will definitely merit careful watching for the next week or so.

Game companies face tough economic choices: The large amount of free and low-cost games on the Web limits how high game companies can set prices, making it harder to recoup costs. This is something that's only going to continue to be an issue as time goes on - free gaming isn't going away, especially free MMOs. What gaming companies have to do is to offer truly compelling product, an experience that free games can't match, something worth paying the extra money for - and then, they have to make sure it's marketed and promoted in a way that puts across to the public that these games are unmissable.

In the gaming industry's version of AIG, executives of Midway are taking heat for bonuses given to executives. While this doesn't have the same impact as using the public's money to allow exects to fly around in private jets and hire celebrity designers to redecorate their offices, it's still pretty irritating in light of the workers at the gaming company that have lost their jobs because of corporate greed. It becomes especially vexing when one thinks of the media and gaming companies where top-level bosses have sacrificed raises and bonuses to keep their workers on the books.

Technology

Google has set up a $100 million venture fund to invest in startup operations. There couldn't be better news for entrepreneurs in the tech field. Google is a company that loves to take chances (look at the Android) and one can look for them to help out other new companies that have the same adventurous spirit as them. Investments will also range from tens of thousands to several tens of millions, so beneficiaries can count on generous support. Nice to see a company that grew itself from the ground floor up reaching out to help others in these tough times.

Social Networking

Facebook almost broke even last year - And expect them to do more than that in the future. The company has pulled ahead to  lead the pack in the booming social networking field, and they are rapidly becoming part of the mainstream American fabric – their appeal goes far beyond the geek audience, encompassing grannies who want to share the kids' pictures, families posting stories of their Disney World trip, etc. The cost of running the site is high, but its advertising – including some experimental ad programs – should eventually make up for it. (And if you can come up with new ways for them to make money, Facebook would be very glad to hear them). 

- Bonnie