Wednesday, August 06, 2014
This article focusing on spin-offs of newspapers and magazines into separate companies is wrong-headed. Media companies were public servants as long as they made money, and since they were often in monopoly positions, they could afford to be high-minded. As the internet took over, so did the economic imperative driving newspapers and magazines. They live on ads and circulation revenue. When both of these declined, so too did the Church, the newsroom, because media owners couldn't afford to keep them staffed. Corporate PR practitioners must not forget that behind all they do is business. Yes, their companies can perform public service but they have to make money too or shareholders will act and throw management out. Wall Street might be winning the media battle through spin-offs of the print business, but that is as it should be. The medium isn't sacred. News reporting online is as effective as turning the pages of The New York Times or USA Today.