Paradigm shift: All the news no longer fits. - Mercedes-Benz Forum

Reply
 
LinkBack Thread Tools Display Modes
post #1 of 20 (permalink) Old 12-08-2008, 12:24 PM Thread Starter
BenzWorld Elite
 
mcbear's Avatar
 
Date registered: Apr 2004
Vehicle: E500Es
Location: The BlueGrass State
Posts: 29,579
Mentioned: 0 Post(s)
Quoted: 3 Post(s)
(Thread Starter)
Paradigm shift: All the news no longer fits.

We have been watching the news landscape change for the past decade as Cable News started supplanting print for National and International news. Then, as local affiliates picked up cable feeds, local news became 24/7/365.

Then came the New World Order: Internet. Instant news from around the world with the ability to pick and choose your sources and pick your feeds. Local newspapers, the only anchors to tangible material are not able to adapt. They can't reload and they can't release multiple editions. They are frozen, 24 hours behind. As they moved to the net they were late adopters and only provided limited offerings, hoping subscribers would still buy pulp. We didn't.

And as Cable and Internet became ubiquitous the recycling bins became less and less full of newspapers as folks chose instant news over yesterday's news. The quickly unfolding 9/11 story most likely was a major contributor.

In just the past week we have seen major newspapers start that 90 Day countdown to change. The Rocky Mountain News, a Conservative paper in Denver and the OLDEST continuously operating business in Colorado is looking like it will either be bought by the Post or just die. The Miami Herald, also a Conservative paper likewise is looking at the same future.

Today the Chicago Tribune filed for bankruptcy and the NYTimes is juggling cats as it reorders it's finances.

Advertising revenues are in the dumper and moving south from there. Expect at least 10 papers to either fold, combine or restructure in the first quarter. Nobody will be immune.

And while Cable is very good and Internet is very quick, the newspapers have always held a place where time and patience was taken in writing and investigating a story and it was printed for ALL TIME. That does not need to stop.


FOXNEWS.COM HOME > U.S.
Tribune Co. Files for Bankruptcy

Monday, December 08, 2008


CHICAGO — Media conglomerate Tribune Co. has filed for bankruptcy protection, pressured by high debts.

The owner of the Los Angeles Times and Chicago Tribune, other newspapers and the Chicago Cubs and Wrigley Field, had hired financial advisers ahead of the filing for bankruptcy-court protection.

The Chicago Tribune reported its parent hired investment bank Lazard Ltd. and law firm Sidley Austin as it considers its financial options.

Tribune Co. spokesman Gary Weitman told the newspaper Sunday that the company was looking at all its options and had not made any decision on the matter.

Weitman did not immediately respond to requests from The Associated Press for comment. Lazard spokeswoman Judi Mackey said the firm declined to comment on the reports.

The Wall Street Journal, quoting people familiar with the matter, had speculated a bankruptcy filing could come as early as this week. It said Tribune Co.'s cash flow may not be enough to cover nearly $1 billion in interest payments that are due this year.

Tribune was taken private last December in an $8.2 billion buyout led by real estate mogul Sam Zell.

Last month, Tribune said its debt load increased to $11.8 billion at the end of the third quarter, up from $9.4 billion a year ago. It posted a loss of $121.6 million for the third quarter as newspaper advertising revenue dwindled.

The company had originally expected its newspaper and broadcast revenue to cover interest and principal on its debt. But plummeting advertising revenue at most Tribune newspapers this year has forced Tribune to cut costs, including staff, and to sell assets to raise money.

Standard & Poor's Ratings Services downgraded Tribune's debt further into junk territory last month, saying the credit crunch could delay the sale of assets — and limit the amount that the company could get for them — including the Cubs, Wrigley Field and its 25 percent interest in Comcast SportsNet Chicago.

FOXNews.com - Tribune Co. Files for Bankruptcy - Local News | News Articles | National News | US News

McBear,
Kentucky

Being smart is knowing the difference, in a sticky situation between a well delivered anecdote and a well delivered antidote - bear.
mcbear is offline  
Sponsored Links
Advertisement
 
post #2 of 20 (permalink) Old 12-08-2008, 12:26 PM
Administratoris Emeritus
 
GeeS's Avatar
 
Date registered: Aug 2002
Vehicle: 2021 SL770
Location: Fountain Hills, AZ
Posts: 44,915
Mentioned: 2 Post(s)
Quoted: 591 Post(s)
Lemme guess, you're pushing for another bailout.

"If spending money you don't have is the height of stupidity, borrowing money to give it away is the height of insanity." -- anon
GeeS is offline  
post #3 of 20 (permalink) Old 12-08-2008, 01:13 PM Thread Starter
BenzWorld Elite
 
mcbear's Avatar
 
Date registered: Apr 2004
Vehicle: E500Es
Location: The BlueGrass State
Posts: 29,579
Mentioned: 0 Post(s)
Quoted: 3 Post(s)
(Thread Starter)
Quote:
Originally Posted by GermanStar View Post
Lemme guess, you're pushing for another bailout.
I can't see that industry using a bailout. It is not set up in that fashion.

I see a very bad trend where less and less real information gets out and only ratings generating information gets pushed to the end user. It will result in further dumbing down of this country as new media tries to insure it doesn't go down the same path.

It means that kids in school won't be able to take the daily newspaper and take Current Events class in many towns. It means that the remaining papers will be run by a very few conglomerates [like ClearChannel] which will further restrict the flow of cross pollinated ideas.

Nobody will invest the millions of dollars necessary to "just start a new voice" as the business model is strained. So like radio, the choices will be fewer and the access of diverse viewpoints lessened.

McBear,
Kentucky

Being smart is knowing the difference, in a sticky situation between a well delivered anecdote and a well delivered antidote - bear.
mcbear is offline  
post #4 of 20 (permalink) Old 12-08-2008, 01:17 PM
Administratoris Emeritus
 
GeeS's Avatar
 
Date registered: Aug 2002
Vehicle: 2021 SL770
Location: Fountain Hills, AZ
Posts: 44,915
Mentioned: 2 Post(s)
Quoted: 591 Post(s)
I do believe you've surrounded it. The death of print media is an inevitability, sad as that is. This country will become far more PC dependent over the next generation or two than it is now. And that spells the end for something as antiquated as newspapers.

"If spending money you don't have is the height of stupidity, borrowing money to give it away is the height of insanity." -- anon
GeeS is offline  
post #5 of 20 (permalink) Old 12-08-2008, 01:28 PM Thread Starter
BenzWorld Elite
 
mcbear's Avatar
 
Date registered: Apr 2004
Vehicle: E500Es
Location: The BlueGrass State
Posts: 29,579
Mentioned: 0 Post(s)
Quoted: 3 Post(s)
(Thread Starter)
Quote:
Originally Posted by GermanStar View Post
I do believe you've surrounded it. The death of print media is an inevitability, sad as that is. This country will become far more PC dependent over the next generation or two than it is now. And that spells the end for something as antiquated as newspapers.
I am not as worried about the end of newspapers [although I like the tactile feel of actually READING] but am much more concerned about the narrowing of choices and the narrowing of information outlets and access points.

While one could argue that the blogsphere is replacing newspapers as the outlet for personal expression and broadcast of "op-ed", the snowstorm of those sites, along with the logrolling ability of erroneous information to be propagated - and the lack of editorial control; it is fraught with problems that allow it to run roughshod over truth and facts.

I assume we will see the reestablishment of masthead entities that have a level of credibility and have a history that will allow them to move forward.

We knew it was coming but, like adolescence forget just how painful and awkward it can be.

McBear,
Kentucky

Being smart is knowing the difference, in a sticky situation between a well delivered anecdote and a well delivered antidote - bear.
mcbear is offline  
post #6 of 20 (permalink) Old 12-08-2008, 01:47 PM
Administratoris Emeritus
 
GeeS's Avatar
 
Date registered: Aug 2002
Vehicle: 2021 SL770
Location: Fountain Hills, AZ
Posts: 44,915
Mentioned: 2 Post(s)
Quoted: 591 Post(s)
It's going to be very bad, as more and more quick and easy "news" sources fall into disrepute. As a preponderance of blogs takes hold, the line between them and legitimate news sources will continue to blur, as with broadcast news, only worse. The legitimate sources may remain, but will likely be overwhelmed by sheer numbers. Look toward the likes of Drudge as an intermediate source that can wreak havoc with our perception of legitimate news sources. At some point the government may to try to intervene and establish a ministry of information.

"If spending money you don't have is the height of stupidity, borrowing money to give it away is the height of insanity." -- anon
GeeS is offline  
post #7 of 20 (permalink) Old 12-08-2008, 02:07 PM
BenzWorld Elite
 
slybydesign's Avatar
 
Date registered: Jan 2007
Vehicle: My Two Left Feet
Location: S.D. Cali
Posts: 3,183
Mentioned: 0 Post(s)
Quoted: 0 Post(s)
I think some of the same issues that plague print media also plague the music industry. It is extremely easy, in fact to easy to down load entire catalogs of music in a matter of hours. The only ones that are thriving right now are the companies that make the medium of which said content can be enjoyed. They pay a said amount for rights and distribution, but the loop wholes make it to easy these days. New Media including Entertainment is in the here and now, so how people view it, use it, and distribute it will be the way profits are made. I don't know of the Tribune will lower its financial expectations, in favor of increasing their online news casts, as well getting in the new technologies where they can surely generate revenue and keep cost down. Many people will loose their jobs at Tribune, but once again, I see it as the economy adjusting itself.






3. Paul Hamm, Gymnast: I owe a lot to my parents, especially my mother and father.
slybydesign is offline  
post #8 of 20 (permalink) Old 12-08-2008, 02:15 PM
Administratoris Emeritus
 
GeeS's Avatar
 
Date registered: Aug 2002
Vehicle: 2021 SL770
Location: Fountain Hills, AZ
Posts: 44,915
Mentioned: 2 Post(s)
Quoted: 591 Post(s)
Similar, no doubt, but the consequences are quite distinct.

"If spending money you don't have is the height of stupidity, borrowing money to give it away is the height of insanity." -- anon
GeeS is offline  
post #9 of 20 (permalink) Old 12-08-2008, 02:33 PM
BenzWorld Elite
 
Date registered: Mar 2006
Vehicle: 1999 ML320
Location: Ratville
Posts: 24,029
Mentioned: 1 Post(s)
Quoted: 310 Post(s)
Quote:
Originally Posted by mcbear View Post
We have been watching the news landscape change for the past decade as Cable News started supplanting print for National and International news. Then, as local affiliates picked up cable feeds, local news became 24/7/365.

Then came the New World Order: Internet. Instant news from around the world with the ability to pick and choose your sources and pick your feeds. Local newspapers, the only anchors to tangible material are not able to adapt. They can't reload and they can't release multiple editions. They are frozen, 24 hours behind. As they moved to the net they were late adopters and only provided limited offerings, hoping subscribers would still buy pulp. We didn't.

And as Cable and Internet became ubiquitous the recycling bins became less and less full of newspapers as folks chose instant news over yesterday's news. The quickly unfolding 9/11 story most likely was a major contributor.

In just the past week we have seen major newspapers start that 90 Day countdown to change. The Rocky Mountain News, a Conservative paper in Denver and the OLDEST continuously operating business in Colorado is looking like it will either be bought by the Post or just die. The Miami Herald, also a Conservative paper likewise is looking at the same future.

Today the Chicago Tribune filed for bankruptcy and the NYTimes is juggling cats as it reorders it's finances.

Advertising revenues are in the dumper and moving south from there. Expect at least 10 papers to either fold, combine or restructure in the first quarter. Nobody will be immune.

And while Cable is very good and Internet is very quick, the newspapers have always held a place where time and patience was taken in writing and investigating a story and it was printed for ALL TIME. That does not need to stop.
Don't blame progress.

Local newspapers lost their relevancy when half of the articles are reprint of 24hr national news. These companies did not adapt to the changing marketplace, is all.

Where are the biting local stories about news of local importance ? Local dirt, local business, local scoop, local politics the deadliest of all , without pandering to and parroting the local authorities and the local head honchos.
mlfun is offline  
post #10 of 20 (permalink) Old 12-08-2008, 03:10 PM Thread Starter
BenzWorld Elite
 
mcbear's Avatar
 
Date registered: Apr 2004
Vehicle: E500Es
Location: The BlueGrass State
Posts: 29,579
Mentioned: 0 Post(s)
Quoted: 3 Post(s)
(Thread Starter)
Quote:
Originally Posted by mlfun View Post
Don't blame progress.

Local newspapers lost their relevancy when half of the articles are reprint of 24hr national news. These companies did not adapt to the changing marketplace, is all.

Where are the biting local stories about news of local importance ? Local dirt, local business, local scoop, local politics the deadliest of all , without pandering to and parroting the local authorities and the local head honchos.
The first part [24 hour old national news has always been the case].

The reduction of local stories has been the combination of staff reductions that have been occurring over the past decade as the technology tide has been taking over AND the refocus on Sports and Entertainment. You will note that while your local political news has dropped nearly to zero, your sports page is now a complete section or even two. And when you can get blurred images of Paris Hilton or Brittany Spears sans panties in just about any entertainment section, you know where they targeted their staff choices. Cheap, non degreed staff who spend their time cut and pasting wire stories.

Only the bigger cities still have decent local sections. [your SF papers do a pretty good job from what I have seen]

McBear,
Kentucky

Being smart is knowing the difference, in a sticky situation between a well delivered anecdote and a well delivered antidote - bear.
mcbear is offline  
Sponsored Links
Advertisement
 
Reply

  Mercedes-Benz Forum > General Mercedes-Benz Forums > Off-Topic

Quick Reply
Message:
Options

Register Now



In order to be able to post messages on the Mercedes-Benz Forum forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.

User Name:
Password
Please enter a password for your user account. Note that passwords are case-sensitive.

Password:


Confirm Password:
Email Address
Please enter a valid email address for yourself.

Email Address:
OR

Log-in











  • Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
     
    Thread Tools
    Show Printable Version Show Printable Version
    Email this Page Email this Page
    Display Modes
    Linear Mode Linear Mode



    Similar Threads
    Topic Author Forum Replies Last Post
    Does anyone know if the 05 aluminum shift knob fits previous W203 sedans? If so where can I purchase racingdave W203 C-Class 1 01-13-2005 12:57 AM
    Entire message board no longer fits on my screen?? Stewart W163 M-Class 4 12-07-2003 06:31 PM
    Now that i don't need my H&R 10mm spacer with longer bolts...? I no longer need it with my.......... Linh R170 SLK-Class 2 02-12-2002 10:17 AM
    GOOD NEWS: AMG offers speed limiter shift from October (at least 4 Europe) Tim CH R170 SLK-Class 9 09-08-2001 07:45 AM
    Bad news, you can no longer buy a cotton car cover for your SLK... Norb R170 SLK-Class 22 08-04-2001 04:47 AM

    Posting Rules  
    You may post new threads
    You may post replies
    You may not post attachments
    You may not edit your posts

    BB code is On
    Smilies are On
    [IMG] code is On
    HTML code is Off
    Trackbacks are On
    Pingbacks are On
    Refbacks are On

     

    Title goes here

    close
    video goes here
    description goes here. Read Full Story
    For the best viewing experience please update your browser to Google Chrome