Media
For Sale, maybe even buy one get the other free?
As a journalism student at Temple University, our classes were often peppered with guest-lectures from seasoned journalists from the Inquirer. The Daily News gave deserving students the opportunity to intern, and gain hands on experience before graduating. Some of my best teachers have been full-time journalists from these papers. And it is with heartfelt sorrow that I realize, Philadelphia is about to lose two of its outstanding newspapers. Rather, the only daily newspapers in Philadelphia.
Mergers and buyouts are a cause for concern. I exhaled with relief when Joe Mansueto (spelling?) stepped in and bought Fast Company last year. When McClatchy bought Knight-Ridder for a $4.5 billion, it was but expected that the new owners would ensue a major house-cleaning project. I.E, get rid of business that aren’t generating enough profits.
The Daily News, will most likely be liquidaed, according to the grapevine. The Inquiere is up for sale though. Unless a generous Joe Manseuto steps in to revive this dying dynasty, Philadelphia and it’s people will have lost its only watchdog.
How can newspapers survive with the declining readerships and with dwindling advertisers? WSJ and other papers in Asia have adapted a lovely, magazine like format that is very contained and easy to navigate. I always questioned the size of traditional newspapers, its neither econnomical nor egronomical. Infact WSJ reported fiscal savings when they switched its format for Asia. Maybe its time more papers take heed?
I am not discounting the need for a tangible news source, something to hold and read, BUT breaking news is now broken online. Infact, when it appears in the newspapers the next day, it is already stale. Maybe newspapers need to shake up the traditional model they’ve been working on since the days of penny press and yellow journalism. I think newspapers have quite possibly been the last mode of media to have embraced new technologies and accepted massive yet vital changes.
The loss of Inquierer is heavier felt than conveyed. But may this be a lesson the the newspaper industry nation-wide that its time they get busy with their own house-keeping and churn out something that will not go the way Inquirer did. Or lets hope, whoever buys the Inquirer, implements the necessary changes.
Discussion
3 comments for “For Sale, maybe even buy one get the other free?”
Post a comment
I remember seeing a video where they show faceoff of Google vs. NewYork Times and it predicts the shutdown of NYT in 2015. The video is itself called Epic 2015 and it starts with the history of internet, formation of google, amazon, blogger, microsoft, the competition between these and then goes on to make some bizarre(?) predictions from 2006 to 2015. It forecasts NYT will shut down paper publishing and will one day become newspaper only for elderlies etc. And everyone will have their own customized profile at googlezon.com Its an interesting video. Wait. Here is the link - http://blog.outer-court.com/videos/epic-2015.html
I’ve never been much of a newspaper reader really, preferring to read a magazine whuch usually has so much more information on an issue. I find unless you’re following a story closely in the paper, you can’t just pick up on what’s been happening and now with the internet you can follow a story online where ever it goes, msm, chat rooms it’s so much more. I do read the newspaper now mostly because my grandmother demands it but I still find that news is faster on TV, more in depth in magazines and way more animated online. The newspaper is excellent for the TV schedule, movies playing and the time of sunrise and sunset.
I do quite like the tabloidesque versions of the paper like the Mid-day which are at least easier to hang on to while you’re on the go. I mean who wakes upa at 6, has coffee on the verandah and reads the paper spread out on the table anymore?
Mitesh - I have seen that video. It was probably the most inspiring and fear-inducing vision of future I’ve seen.
Beks - I know. Sad though that the newspapers didn’t realize this sooner. I like the compact format too.. so easy to navigate.