For months now, I’ve said more newspaper companies will consider going private as a means to escape pressures from Wall Street and the rollercoaster of financial instability brought on by ignoring their expectations. As we all know, Tribune Co. accepted a buyout offer from billionaire Sam Zell and will soon go private. (And as you’d expect, I can’t help but say I told you so.)

The question now: Who is next? The answer, according to the Associated Press, is nobody. Their story argues that other companies are protected by financial maneuvers that make them impractical candidates to go private.

Let’s assume the AP’s analysis is correct. If no other newspaper company goes private, then the heat will be for making Wall Street happy. To please investors, all of the media companies want a larger portion of their revenues to have the word “Internet” attached to them. The fastest route to that accomplishment is selling non-Internet businesses and buying Web-based ones.

Wise newspaper companies will sell off oddball parts and use the capital to buy Internet competitors. (The implication of that last sentence is dumb companies will use the money to buy back bits of their own crappy stock.) The models for good deals are The Fresno Bee purchasing FresnoFamous.com and The NY Observer taking over PoliticsNJ.com. But I’m anticipating a much higher profile purchase.

Not only am I predicting that the newspaper fire sale is about to begin, but I’m also recommending it. Don’t become the next McClatchy. In a dunce-cap move, they sold the Star-Tribune at a substantial loss just to pay the bills, not invest. Sell now and do something productive with the money or sell later just to get by.