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.
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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."
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