Newspaper sales fall in historic rout
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posted by Newsosaur at 11:37 AM
Friday, November 28, 2008
About Me
- Name: Newsosaur
Alan D. Mutter is perhaps the only CEO in Silicon Valley who knows how to set type one letter at a time. Mutter began his career as a newspaper columnist and editor at the Chicago Daily News and later rose to City Editor of the Chicago Sun-Times. In 1984, he became No. 2 editor of the San Francisco Chronicle. He left the newspaper business in 1988 to join InterMedia Partners, a start-up that became one of the largest cable-TV companies in the U.S. Mutter was the COO of InterMedia when he moved to Silicon Valley in 1996 to join the first of the three start-up companies he led as CEO. The companies he headed were a pioneering Internet service provider and two enterprise-software companies. Mutter now is a consultant specializing in corporate initiatives and new media ventures involving journalism and technology. He ordinarily does not write about clients or subjects that will affect their interests. In the rare event he does, this will be fully disclosed. Mutter also is on the adjunct faculty of the Graduate School of Journalism at the University of California at Berkeley.
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3 Comments:
The worst of them still take in too much money for my taste.
Interesting especially that online sales revenue is dropping. It would seem that no one wants them in the alternative to print, either.
Very interesting, though as a journalism student it is also very depressing.
From reading the reports of fresh rounds of pre-Christmas layoffs, I thought the Q4results must be very bleak. But what is worse, as your chart shows, is that the slide in revenues is getting worse. Some prominent economists now are talking of a recession lasting well into 2010, and many of these newspapers are not going to be able to hold on for that long. The first to go, I predict, will be Billy Dean Singleton's Media News, followed by Tribune, Blethen, Media General and McClatchy. Even Gannett's decision in September to take out $1.2 billion in new long-term debt has put that Depression-survivor in question. The lesson from this experience for the corporate boardrooms thas to be that newspapers that take on crushing debt cannot survive.
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