'The sky is falling...'

Dateline: Wed 29 Oct 2008

Thanks to Tom Henderson, who picked up on an excellent article in the New York Times yesterday on the troubles old media is having.

Here's part of what is being said:

"It's been an especially rotten few days for people who type on deadline. On Tuesday, The Christian Science Monitor announced that, after a century, it would cease publishing a weekday paper. Time Inc., the Olympian home of Time magazine, Fortune, People and Sports Illustrated, announced that it was cutting 600 jobs and reorganizing its staff. And Gannett, the largest newspaper publisher in the country, compounded the grimness by announcing it was laying off 10 percent of its work force, up to 3,000 people.

"Clearly, the sky is falling. The question now is how many people will be left to cover it."

On a personal note, a young cousin/Manhattanite who worked for Radar magazine in New York saw those doors shuttered last week. He joins the ranks of job-seekers.

The NYT points out that 90 percent of newspaper revenue comes from the print version -- advertising and subscribers. Those days are clearly over and done.

The good news is that some very bright kiddies are working on new media at Gannett, including indy.com. No, it will never be the same; it is no longer my father's newsroom, and in fact, has not been in years. But the phoenix always rises out of the ashes. Too many people care about the work reporters do to let this estate slip away....

Here is the link to the NYTimes story:

http://www.nytimes.com/2008/10/29/business/media/29carr.html?partner=rssnyt&emc=rss

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