Ad revenue is down, newsprint prices are up, circulation remains a see-saw a ride, and the bear's looking mighty cranky on Wall Street. It's recession time, leading to layoffs, hiring freezes, expense cutbacks and more at media outlets in the United States and elsewhere. Below is a sampling of recent stories. In this March 8th piece, The Washington Post's Howard Kurtz runs down the bad news and talks to industry analysts about where we're headed. But the very bottom is not our destination, it appears.
All newspapers do is make less.
In a March 13 story, Barron Online looks at the mood of newspaper investors. Henry Berghoef, who holds five million shares in Knight Ridder, looks to be the most chipper in the crowd. People like to think papers are passe, dead and buried. But these are businesses much more valuable than people give them credit for. The Press of Atlantic City tells staffers they'll have to help the paper weather the recession by taking a week of unpaid leave.