The demise of print media has been jailed for a long time since the bubble of the late 1990s. Then came the bust, and some thought the newspaper industry, as with other Old Media stakeholders would survive. With the current rave over Google’s rising stock, it is a matter of time before Old Media start shutting down one by one. Here’s an article. that talks about some prominent papers engaging in cost-cutting moves, omens of impending doom, if you ask me.
To quote directly from the article,
“Last month, Chicago-based Tribune, whose holdings include 11 daily newspapers, 26 television stations and the Chicago Cubs, said third-quarter profits tumbled 82 percent because of an adverse tax ruling that forced it to take a huge charge.
The media company’s results also showed continuing sluggishness in advertising sales and lower revenue from newspaper circulation, although Tribune executives said recent circulation trends show improvement.”
Reporters liad off, face up to reality. Gettin laid off is not a bad thing. Join the blogoshphere and create your own outlet of journalistic expression. For more info, you can always contact me. 😉
TV Companies, who’s next in line for the guillotine?