I've just learnt that The Observer, one of Britain's most respected Sunday newspapers, is facing possible closure.
We all know that newspapers are under a lot of pressure these days, but the closure of The Observer?
That is serious.
Especially when you consider it is part of the Guardian Media Group.
I thought the Guardian papers had a good future, given they were one of the first papers to fully embrace the opportunities of the online world.
Anyway The Observer is apparently suffering from ever dwindling circulation.
So what will happen if it closes?
Will the Guardian go from 6 days a week to 7?
Surely not, given The Observer is pretty much a default Sunday Guardian anyway.
Despite it's lower circulation surely The Observer still has advertising revenue?
So if it closes what happens to that ad revenue?
This is one story I'll be watching very closely. As will I'm sure Rupert Murdoch and other big media operators.