The demise of print newspapers???, an exaggeration perhaps
Much has been written about the continued decline in print newspapers, the number of them and their profitability. The pressure from internet media is undeniable. The financial pressure on "cover the world" major newspapers is real, as their informed and younger readers are more likely to use their IPad type devices or smart phones to get information.
That's all true, but there seems to be more to the story. Today we received our first copy of the Manhasset Times, a new competitor to the long standing Manhasset Press. These are suburban newspapers that have a template of advertising and county news that are applied similarly for many towns, but they are tailored to each individual little town, one hardly distinguishable by borders from the next town. Now two Manhasset newspapers are filled with local news about people, the schools, library events, real estate activity, editorials and letters to the editor, local government decisions, any crime, high school sports, obituaries, and other varied items of interest.
Manhasset itself has 8000 people and, to stretch the use of this concept, a metro area of probably half that many more that identify Manhasset as their town and are permitted access to its schools and facilities in some way. The new "Times", just read today for the first time, had far superior content today than the usual "Press" but that and an offer of a free two year subscription may be just part of its coming out party. That remains to be seen.
The fact is that just about everyone in town takes a gander at the "Press", if just to see local photos and know who has done something notable. This very local newspaper print media is alive and well, and with all of the real estate advertisements and food market inserts must have some aspect of profitability. If not, why a new competitor?
This post was occasioned by this little local example but there is a bigger issue. Warren Buffett likes the concept of holding and reading local newspapers and already owns a stable of mid-sized city newspapers(not small towns like Manhasset) he continues to express interest in buying more. To him they are as American as Dairy Queen, which he also owns.
Despite the Sam Zell debacle of buying major Chicago and Los Angeles newspapers and running them like real estate properties, there still remains big money buyer interest in these products. Some are for thoughtful investment reasons and some are deemed to be for control of editorial content. As to the latter, Rupert Murdoch's ownership of the Wall Street Journal has not noticeably changed its editorial stance over the last five years and has dramatically improved its news coverage, such that on many issues, some international ones beyond business, it is hands down superior to the New York Times.
The worrisome issue at the moment is the Koch brothers interest in major newspapers as their political clout is beyond worrisome with their radically conservative and anti-libertarian views, and massive contributions to disruptive political organizations, some of which represent the worst side of those who identify themselves with the tea party. A strange aspect of their behavior is their huge amount of constructive philanthropy, especially here in New York, even supporting public radio here to some extent. Are they to be feared as much as one would expect, especially given the Murdoch example at the WSJ.
The point of this post is that the wonderful feeling of holding, folding, scanning through, and even reading a big messy newspaper is not going away anytime soon. Eventually it will, one could guess, but eventually can be a very long time. I certainly hope so.
Postscript: Print newspapers are not blind to the internet and are finding ways to least use that outlet, although one wonders how profitably. That will shake out over time. The major story of the famed New Orleans Time Picayune going to from a regular schedule to three days of regular print editions plus Sunday, supplemented by internet access, is an anomaly so far, largely due to the fact the metro population was essentially cut in half by Katrina.
Many newspapers must be at least monetizing their internet delivery to some extent. My hometown Danville, Virginia newspaper provided internet access for free though 2011, and then went to allowing five page views per month free, and that was it, unless you subscribed. Heck I delivered the thing for seven years and am amused by keeping in touch with the town so for $85 a year I can see it in full, anytime. It's good to know if any sympathy cards are needed to be sent and the related gifts to the chosen charity of those that were close to me or my parents.
That's all true, but there seems to be more to the story. Today we received our first copy of the Manhasset Times, a new competitor to the long standing Manhasset Press. These are suburban newspapers that have a template of advertising and county news that are applied similarly for many towns, but they are tailored to each individual little town, one hardly distinguishable by borders from the next town. Now two Manhasset newspapers are filled with local news about people, the schools, library events, real estate activity, editorials and letters to the editor, local government decisions, any crime, high school sports, obituaries, and other varied items of interest.
Manhasset itself has 8000 people and, to stretch the use of this concept, a metro area of probably half that many more that identify Manhasset as their town and are permitted access to its schools and facilities in some way. The new "Times", just read today for the first time, had far superior content today than the usual "Press" but that and an offer of a free two year subscription may be just part of its coming out party. That remains to be seen.
The fact is that just about everyone in town takes a gander at the "Press", if just to see local photos and know who has done something notable. This very local newspaper print media is alive and well, and with all of the real estate advertisements and food market inserts must have some aspect of profitability. If not, why a new competitor?
This post was occasioned by this little local example but there is a bigger issue. Warren Buffett likes the concept of holding and reading local newspapers and already owns a stable of mid-sized city newspapers(not small towns like Manhasset) he continues to express interest in buying more. To him they are as American as Dairy Queen, which he also owns.
Despite the Sam Zell debacle of buying major Chicago and Los Angeles newspapers and running them like real estate properties, there still remains big money buyer interest in these products. Some are for thoughtful investment reasons and some are deemed to be for control of editorial content. As to the latter, Rupert Murdoch's ownership of the Wall Street Journal has not noticeably changed its editorial stance over the last five years and has dramatically improved its news coverage, such that on many issues, some international ones beyond business, it is hands down superior to the New York Times.
The worrisome issue at the moment is the Koch brothers interest in major newspapers as their political clout is beyond worrisome with their radically conservative and anti-libertarian views, and massive contributions to disruptive political organizations, some of which represent the worst side of those who identify themselves with the tea party. A strange aspect of their behavior is their huge amount of constructive philanthropy, especially here in New York, even supporting public radio here to some extent. Are they to be feared as much as one would expect, especially given the Murdoch example at the WSJ.
The point of this post is that the wonderful feeling of holding, folding, scanning through, and even reading a big messy newspaper is not going away anytime soon. Eventually it will, one could guess, but eventually can be a very long time. I certainly hope so.
Postscript: Print newspapers are not blind to the internet and are finding ways to least use that outlet, although one wonders how profitably. That will shake out over time. The major story of the famed New Orleans Time Picayune going to from a regular schedule to three days of regular print editions plus Sunday, supplemented by internet access, is an anomaly so far, largely due to the fact the metro population was essentially cut in half by Katrina.
Many newspapers must be at least monetizing their internet delivery to some extent. My hometown Danville, Virginia newspaper provided internet access for free though 2011, and then went to allowing five page views per month free, and that was it, unless you subscribed. Heck I delivered the thing for seven years and am amused by keeping in touch with the town so for $85 a year I can see it in full, anytime. It's good to know if any sympathy cards are needed to be sent and the related gifts to the chosen charity of those that were close to me or my parents.
posted by John Borden at 11:45 AM
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