Media (Financial) Matters…
Apparently, the implosion of the old media goes beyond the borders of the state of Connecticut…
NEW YORK (AP) – Media conglomerate Tribune Co. filed for bankruptcy protection Monday, as the owner of the Chicago Tribune, the Los Angeles Times, the Chicago Cubs and other properties tries to deal with $13 billion in debt. Tribune files Bankruptcy
The Tribune company isn’t the only one…
The New York Times Company plans to borrow up to $225 million against its mid-Manhattan headquarters building, to ease a potential cash flow squeeze as the company grapples with tighter credit and shrinking profits.
Times to borrow against building
Apparently, there was at least one use for the expensive vanity HQ Pinch and the boys moved into…
The punchline would seem to be that the daily newspaper is going the way of the buggy-whip and shoes with spats. You can’t fix obsolete. Let’s hope they don’t try too hard with too much of our money.
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Here's a good solution. A great way to turn things around for big corporations with your hands out: Car companies – Make a better car. Loan companies: Offer better services. Publishing companies, especially NYTimes: Put out a better paper. if not, the smaller ones rise up and give us the services we want and need. That, Nancy and Harry, is how the market corrects itself.
The "problem" with that is that there is discomfit as the deadwood is cleared away and new growth takes its place. While this is the natural order of things. there are some, such as Harry and Nancy, who aren't up to the job.
In the case of the newspapers, it was a failure to innovate and realize that they weren't changing with the times. A failure to adapt, much like the dinosaurs.
Liberal papers are read by liberals. Liberals want to spend other peoples' money, not their own. Liberals are therefore too cheap to support advertisers. Liberal papers loose advertisers and money. Liberal papers fail. Poetic justice.
No sympathy here for the Courant and its parent company.
Soon the headlines will read….
"The Nations Longest Circulative Newspapers Final Gasp"
I will probably read about it on the Internet
Apparently, the Cubs deal rolls up into the Illinois Governor's arrest…