[As painful as this is for everyone, the BBC is making the kind of tough decisions that more mainstream media should make. Dire circumstances demand drastic action, and the BBC is one of the few media organizations with the balls to begin to reinvent itself. – Ed.]
[It’s not a good time to be a broad, general-purpose magazine. Time and Newsweek circulation is trending steadily down, while U.S. News’ numbers are falling precipitously. Meanwhile, Europe’s The Economist and The Week are growing nicely.
What’s strange about all this is that both of the European magazines publish longish, weighty and thoughtful articles. Since the USAToday-ization of the media began in 1984, conventional wisdom has been that the only way to keep readers was to lighten, shorten, colorize and sap editorial content of as much depth as possible. Now it appears that growth is shifting to publications with some gravity. Maybe we’re beginning to lose our appetite for cartoon infographics? – Ed.]
"The stock has declined 24 percent this year…Other newspaper stocks, including Gannett Co., owner of USA Today, and McClatchy Co., publisher of the Miami Herald, are also trading at 10-year lows because of the loss of advertising to new media such as the Internet and the decline in classified ads linked to tumbling housing sales.
[The Sulzberger family’s vice-like grip on the company has investors heading for the exits. A new $500 million Manhattan headquarters when the Times is laying off staff? You have to wonder what the Sulzbergers were thinking. The fact that the investment has appreciated is irrelevant. This is a publishing company, not a real estate investment trust. – Ed.]
This entry was posted on Saturday, October 20th, 2007 at 4:23 am and is filed under BusinessModel, Demographics, Journalism, Layoffs, NewMedia, Newspapers, OnlineMedia. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.