Thursday, February 07, 2008

Quotable: 'Some papers aren't going to make it'

That's Philadelphia Inquirier Publisher Brian Tierney, who led an investor group that bought the company from McClatchy less than two years ago, The New York Times says today, in a story about the newspaper industry's accelerating decline. "The next few years are transitional, and I think some papers aren’t going to make it," Tierney says.

Of course, newspaper profits remain healthy, "but they are dropping fast," the NYT says. Gannett's newspaper division had a 21% profit margin last year, but the dollar amount of its profits fell 10%.

Think newspapers can't fail? You should have been with me in 1991, when Gannett shuttered the Arkansas Gazette in Little Rock, throwing 700 of us out of work in a recession.

No comments:

Post a Comment

Jim says: "Proceed with caution; this is a free-for-all comment zone. I try to correct or clarify incorrect information. But I can't catch everything. Please keep your posts focused on Gannett and media-related subjects. Note that I occasionally review comments in advance, to reject inappropriate ones. And I ignore hostile posters, and recommend you do, too."

Note: Only a member of this blog may post a comment.