Posted in Uncategorized by Digidave on July 16th, 2008

The Reinvention Will Not Be Printed

clipped from www.tamark.ca

Watching the reinvention

Some of the latest bad, bad news from the industry we all love.

The Vultures Are Circling, by Mark Potts.

Earnings: Gannett Q2 Revenue Down 9.9 Percent; Income Down 19.7 Percent; Stock Crushed. The headline, at Paid Content, pretty much says it all.

5 newspaper stocks hit new lows – again. Alan Mutter needs to be on your daily reading list in times like these. See also Just $3.6B: Total value of 10 news stocks, in which Alan calls the recent slashing of newspaper stock prices “an historic rout.”

So what does it all mean?

I’m always wary of anyone who points with any certain to the future of media. And I have no greater insight into this mess, and the ways out of it, than anyone else. But there are some things that I feel relatively certain about, at least at the moment. (My conclusions are, as always, subject to change.)
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  1. Gerard Barberi said, on July 17th, 2008 at 5:14 am

    I’ve been reading Mutter’s writings for the past few weeks now. It’s depressing; very depressing.
    I think at some point, people are going to start demanding “progressive paycuts.” Progressive, because I feel the top should take a larger hit. Paycuts, because it’s better than unemployment.
    Every bleak projection I hear, every depressing bit of economic news, every Wall Street and business scandal, I keep wondering how long it will take us to realize this.
    Let’s start advocating for (progressive) paycuts.
    Maybe I’m wrong; I’m no economist. And, I’m speaking in general terms. Not just about the Newspaper industry.

    All the above subject to change, of course.

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