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Out of Print: The death and life of the American newspaper: The New Yorker
via www.newyorker.com by (author unknown) on May 05, 2008
Shared by Chris Wetherell
This worries me the hell out of me. Security budgets and expenses for independent journalism aren't small. I don't want the enterprise of efficient, elegant syndication on the web to sit on the sidelines while good resources in investigative journalism bleed out. There has to be a way for us to help.
Independent, publicly traded American newspapers have lost forty-two per cent of their market value in the past three years...
Lee Enterprises’ stock is down by three-quarters since it bought out the Pulitzer chain...
...the families that owned the Los Angeles Times and the Wall Street Journal sold off the majority of their holdings...
The New York Times Company has seen its stock decline by fifty-four per cent since the end of 2004, with much of the loss coming in the past year...
Until recently, newspapers were accustomed to operating as high-margin monopolies. To own the dominant, or only, newspaper in a mid-sized American city was, for many decades, a kind of license to print money. In the Internet age, however, no one has figured out how to rescue the newspaper in the United States or abroad. Newspapers have created Web sites that benefit from the growth of online advertising, but the sums are not nearly enough to replace the loss in revenue from circulation and print ads...
Read more of this article, it's a doozy...Shared by: