Zell has since learned that the business model for newspapers doesn’t fit in the digital age

The problem is that large, national newpapers do not print news, they print opinion, and just a few news articles that enhance their agenda. They take selected ads from companies that do not cross their agenda, and do not freely report any news that might upset (interfere with the money flow) from those few select advertisers

When the main source of news was print, most newpapers albeit sometimes reluctantly, printed most stories, because the competitors would print the story if they did not

People grabbed the editions that carried the hot news headlines

I buy the local, neighborhood newspaper only because they print some, not all, local crime news, which is not available on the internet and the nickel and dime ads meant for local people only (garage sale, handyman). Local ads in print attract local response and avoid some of the national serial killer sweep service of internet ads. If another local paper came out that printed even more of the local crime news I would switch.

That is not going to happen because local papers, which use the crime news to bait the reader, limit the volume of crime reporting to assuage their local advertisers.

The Internet killed papers, not because it is the best way to get news (which is often abridged, edited to mislead, or buried by Search Engine censorship) but because print papers assumed they no longer had to print all the news to compete

That triggered the self defeating circle as print papers reduced the scope of news reporting and abridged items on the stupid principle people could get the facts elsewhere.

Print papers for a while became ad revenue collectors which lasted until the inverse ratio of their still diminishing news reporting became swamped by the strident propagandizing in their opinion and interest articles, which were the coup de gras

Print medium should not be blamed for the fact the print media ceased to be newspapers

Print was used to lure people to editorials, and now all that is left are editorials and bogus ads.

Nothing more.

Nothing less.

IIRC, subscriptions never fully covered the cost of the paper. It’s the revenue from the classified advertising that has provided the majority of the funding and profit for newspapers. Thanks to internet advertising allowing people much more flexibility in how to advertise, who to advertise to and how much to spend on that advertising, it’s unlikely that, even with improved subscriptions, the classified revenue will return.

Just as trains gave way to planes, the majority of print newspapers will die or convert to online papers….unless there is an enterprising person out there that comes up with a sustainable business model.

I thought how ironic it was that an industry dependant for so long on a customer’s honesty and integrity was now so utterly incapable of returning the favor in kind.

The death of the newspaper should come as a surprise to no one.

Rupert Murdoch has demonstrated that there is actually a market for news directed at the 47% of the population who didn’t vote for Obama

Fox News Channel is a great newspaper, isn’t it?

Murdoch’s conservative newspaper, the New York Post, has been losing tons of money for years.

He just bought the Wall Street Journal a couple of years ago, but he probably overpaid.

DUH.
Obviously having lots of $$ doesn’t mean you are necessarily smart.

Badger40 on April 16, 2009 at 11:40 AM

Yeah like Soros. May be smart financially, but he is destroying the country.

I am glad to see them flat broke. That is mark to market in reality. It is wortheless and it has no liguid value.

BTW, Zell reads Krauthammer.

What’s killed them is that with the Internet they’re no longer monopolies. I can get the wire reports from the Strib, or from the WaPo. The only reason to go to the Strib is for Mpls news, and until very recently they’ve done a remarkably bad and biased job on the local stuff.

Newspapers will survive based on local reporting, with national and international articles coming from a pooled source. There’s almost no incremental value in having a Mpls reporter in DC vs. a pool reporter.

And the problem with local reporting is that most local reporting is biased and has driven away a significant part of the potential subscribers. I know you’d never get me to buy a Strib again.

wouldn’t you like to be able to afford to make a $8 billion mistake? (as a private citizen)

right2bright on April 16, 2009 at 12:26 PM

I can’t hardly stomach my own $$ mistakes, as paltry as they are.
It just makes me sick to hear crap like this.

All being said…wouldn’t you like to be able to afford to make a $8 billion mistake? (as a private citizen)
This is discounting the trillion dollar mistake of Obama, but it isn’t his money.

right2bright on April 16, 2009 at 12:26 PM

Reminds me of a lady at the Tea Party holding a sign, with dollar bills dangling from it:

WHILE YOU’RE AT IT, PRINT A TRILLION FOR ME!

Why compete for conservative readers when the Government will silence conservative writers?

Steve Z on April 16, 2009 at 12:34 PM

It’s coming to a neighborhood near you.
Ham radio operators will be all that’s left to spread the truth.

Rupert Murdoch has demonstrated that there is actually a market for news directed at the 47% of the population who didn’t vote for Obama, something other media companies have appeared to have forgotten.

Realist on April 16, 2009 at 12:12 PM

So Rupert Murdoch has those 47% to himself, while other media companies struggle to compete for the other 53%.

If another media company were to change its editorial staff to compete with Murdoch for those 47%, it would probably increase its market share and profits.

Not only that, there might be more than 50% who don’t vote for Obama next time. Maybe that’s why they don’t “change”. Why compete for conservative readers when the Government will silence conservative writers?

blatantblue on April 16, 2009 at 11:57 AM

Now I’m gonna be paranoid about using the bathroom! LOL!

and 50 years from now lord knows what the hell things like news and media will look like.

ernesto on April 16, 2009 at 12:30 PM

The Ministry of Truth will require all citizens to be equipped with data chips in their brains so as to receive a constant stream of NewsSpeak.

and 50 years from now lord knows what the hell things like news and media will look like.

now if only there were more DARPA grants for networking applications…that woulda made a great stimulus. it could hasten the transition to 21st century data transfer (and thus news and all other media)…and kill off the stuffy old papers y’all hate in even less time!

My wife uses the newspaper for paper mache in the classroom. Kids love paper mache.

Think of the children!

portlandon on April 16, 2009 at 11:52 AM

They’re also useful to protect the floor when painting the wall, and for wrapping up fragile Christmas (oops, winter solstice holiday) decorations for summer storage.