( – promoted by Colorado Pols)
from the Boulder Daily Camera
E.W. Scripps, a partner in the company that owns the Camera and the Colorado Daily, told employees across the country Wednesday that it was instituting widespread pay cuts and the suspension of certain retirement benefits.
In an internal memo, Scripps CEO Rich Boehne said Scripps’ senior managers, from local managers to corporate executives, took pay cuts of 5 to 15 percent in January. “It is now clear that pay adjustments need to be broader,” he said. “You will be hearing shortly from your publisher how this will affect your newspaper.”
This is the kind of thing you only do when your back is to the wall. I worry that the daily newspaper may be going the way of the horse & carriage.
This is too bad but newspapers by and large have showed no imagination in how they have used the web and so I guess this has to happen. I hope they are replaced by a new company that will do local in depth reporting.
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Just like there is no real need for TV networks anymore when people can individually select shows to watch On Demand, there is no need for individual newspapers that try to do everything (bureaus all over the world). With the way syndication works now, local newspapers need to focus on original reporting of local news (like you said) and then incorporate the most important reports from their counterparts across the world. All the dislike of the new media in the world won’t save the media outlets who do not find a way to adapt.
Poll statistics taken since 2001 has shown a steady erosion of print media readership. Last year was the tipping point, with more people now getting their news from the internet as opposed to print. TV has been holding its market share, but thats starting to slip.
Print newspapers are institutional dinosaurs, just like GM and Chrysler. You don’t need a weatherman to know which way the wind blows…..
…just like movies didn’t disappear when TV came into the mainstream. If they want to stay relevant, they’re going to need to learn to adopt to the internets, and develop a more realistic financial model for selling access like micropayments.
But don’t ever assume for a minute that a person with a website and a blog is going to replace the journalistic skills and power of the print news media. Yes, more people get their news from the internet. But which sites? I’m going to guess the web version of a newspaper, or a major news outlet. Same company, different portal.
Scripps, Tribune and Gannett are are facing major financial problems, and are handling it the same. I didn’t see any predictions of 9News dying when they started their pay cuts and furloughs….even though Gannett has gone from a $7 Billion dollar media giant to a skinny sub-billion dollar media midget.
The telephone eventually eliminated the telegraph.
TV eliminated radio dramas.
Recorded music has had a gigantic impact on live local music.