Coupon Clippers Lament as PennySaver Shuts Down

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There’s devastating news for coupon clippers today: the owners of the PennySaver suddenly announced that the paper would shut down.

For more than 50 years, the PennySaver arrived in mailboxes throughout California with pages chock full of discounts at local retailers.

The paper started in 1962 in Huntington Beach and spread across the state, reaching more than nine million Californians a week.

The PennySaver was bought out in 2013 for more than $22 million, but according to a statement from the owners, it ran out of money.

It’s certainly not the end of discounts… but it is the end of an era.

Credits

Guest:
Ira Kalb - USC’s Marshall School of Business - @irakalb

Host:
Madeleine Brand

Producers:
Jolie Myers, Matt Holzman, Anna Scott, Christian Bordal