Wednesday, March 22, 2006

"Newspapers in Trouble?"

Glenn Reynolds has a great column at TCS. A couple of quotes:

"Moody's is looking at downgrading the New York Times' credit rating. The Times' stock is doing badly. And other newspapers are in trouble, too -- the staff of the San Jose Mercury News has resorted to launching a "save our paper" website."

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It was just a year ago that I predicted -- to considerable consternation and censure from the press -- that most major newspapers would be dead or dying by the end of this decade. Apparently, I was being conservative.

As I look around California, for example, I see the San Francisco Chronicle turning into the Daily Worker for baby boomers, the Los Angeles Times selecting stories based on political considerations, and now, the only real newspaper of any size left, the Mercury News, apparently orphaned. Meanwhile, McClatchy's strategy appears to be that of snatching up small-town papers, the last redoubt of daily print journalism. But that is just buying time before Yahoo and Google start putting local Little League box scores online." Read it all

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