The giant flushing sound continues as the monopolistic newspaper giants shed advertisers and readers while they bleed in expenses: the price of newsprint is up 20 percent and gas is over $4 a gallon, forcing the editor-centric management to look at financial reports for the first time in their careers.
Where do they think they will make up the difference from all those new home developments, new car and truck sections, papers made up of 70 percent ads?
Do the math, there is no place for that kind of advertising on the Web.
I believe there will be a few survivors, big city hubs that include: The New York Times, San Francisco Chronicle, Chicago Tribune, Houston Chronicle, LA Times, and Washington Post. Not even the St. Petersburg Times will survive in print. They will no longer be the media elite, of course. But some mastheads will survive as novelty items among eccentric bohemian types, set aside their non-fat lattes at Starbucks.
The editors still don’t get it. They are busy giving themselves high-fives over getting Obama elected to head the Democrat ticket. What fun. They don’t even yet know that the Pantsuit Messiah is still waiting in the wings. It ain’t over till it’s over, as Yogi says.