asterisk2a + nytimes + gale   1

Newspaper Industry Is Running Out of Time to Adapt to Digital Future - NYTimes.com
Between operational fiascos and flailing attempts to slash costs on the fly, it’s clear that the print newspaper business, which has been fretting over a looming crisis for the last 15 years, is struggling to stay afloat. There are smart people trying to innovate, and tons of great journalism is published daily, but the financial distress is more visible by the week.

“Most newspapers are in a place right now that they are going to have to make big cuts somewhere, and big seams are bound to show up at some point,” said Rick Edmonds, a media business analyst at the Poynter Institute.

- Those of us who work inside the racket like to think of our business as unique, but with underfunded pension plans, unserviceable debt and legacy manufacturing processes and union agreements, the newspaper industry looks a lot like, well, steel, autos and textiles.
Schumpeter's  gale  creative  destruction  change  New  York  Times  nytimes  corporate  governance  pension  fund  pension  scheme  pension  obligation  Newspaper  Industry  mediachange  media  newspapers 
july 2012 by asterisk2a

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