Tag Archives: Death of Print

Shots from the financial crisis

dsc_0491editedI just saw on Silicon Alley Insider that the Boston Globe is laying off 42 people. A friend of mine from my (few) days at Ottaway Newspapers works for Boston.com, the newspaper’s website, at last I heard. I hope he still has a job. When I dug into the article on SAI, I was shocked at the numbers I saw. I had no idea that the Globe’s circulation had fallen into the shitter. I know that Boston is a fairly small market, but the Globe is its major paper (or was).

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ValleyWag gets it right on NYT and print

As everyone should know by now, the Migrant Blogger hates print. It still tends to pay the bills better than online journalism, and the prestige factor is probably a big part of that. After all, to be in a publication that has limited space, you have to be pretty damned good. This thinking is what holds reporters back.

Well, it seems as though I have a kindred spirit at the NY Times. Technology editor Damon Darlin is looking to beef up his online team, ValleyWag reports. NYT staffer David Carr predicts that the “horizon line for when a newspaper on the street is serving as a kind of brochure of a rich online product does not seem far off” (also in the ValleyWag article).

It’s about fucking time.

You can tell a better story online than in print, and you can do it in real-time, as the story unfolds. Being first to market matters, as the reporter will not be constrained by a production process. This is where real journalism will happen … hopefully not too long in the future.

I, for one, am sick of waiting for printers to finish printing.

Newspapers Can’t Be Sold?

I read a crazy article in on nytimes.com this morning– part of the joy of not having a normal sleep pattern these days. Apparently, newspaper chains are having trouble selling off their properties. Big surprise, I know, given the imminent death of print, plummeting share prices and revenue bases that have been decimated. But, what I find interesting is the cluelessness that has led up to this.

I worked for the community news division of Dow Jones several years ago for about 10 minutes. Even in the brief time I was there, I learned how important acquisitions were to the company. Our fearless leader at the time, John Wilcox, indicated that part of the competitive landscape going forward would be the ability to win in the acquisition space. Newspaper chains would be competing to buy newspapers as much as they’d be competing for readers. He went on to discuss the different means available for acquiring newspapers.

What a difference three years makes …

Since then, Dow Jones sold several of its community newspapers in order to take advantage of a capital loss carryover. News Corp acquired the company and discussed selling off the Ottaway (i.e. community newspaper) properties, before taking them off the block due to lack of interest. Now, nobody is buying newspapers, including the once acqusition-hungry Gatehouse Media. In 2006, the question wasn’t “if?” but “how much?” Today, there is no question, just a statement: “not at any price.”

It’s not the death of print that’s surprising. Everybody saw that coming back in the go-go days of 1997. The sheer idiocy is in the fact that, as late as 2006, newspaper executives thought they’d be competing to buy print properties. Denial flowed strong, and they are now left with the consequences.