Monday, December 08, 2008
Not The Last
This is surprising for the newspaper industry, but it won't be the last newspaper to teeter on the edge of bankruptcy. The Chicago Tribune got into trouble with its sale last year to investor Samuel Zell. He doesn't know how to run the newspaper business but then, neither did the people from whom he bought the chain.
The decline of the newspaper business has been a long time coming. They were trickling blood for years but able to continue. They are gushing red ink now. Most don't have profitable internet models in place that would allow them to offset the decline in ad lineage. In fairness to newspaper publishers, they knew this day would come, and they have been struggling for answers. There are no clear paths for them. Should any of these major papers go down, it will affect the PR business. Any loss of an impartial, third-party voice will harm the kind of work we do.
The decline of the newspaper business has been a long time coming. They were trickling blood for years but able to continue. They are gushing red ink now. Most don't have profitable internet models in place that would allow them to offset the decline in ad lineage. In fairness to newspaper publishers, they knew this day would come, and they have been struggling for answers. There are no clear paths for them. Should any of these major papers go down, it will affect the PR business. Any loss of an impartial, third-party voice will harm the kind of work we do.
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