Newspapers: Descent from Mt. Olympus Continues
June 19, 2008
No references or quotes from the Associated Press for me: The news, however, is easy to find, and it has grave implications for enterprise search systems dependent on for-fee content from traditoinal publishers.
A quick read of these stories makes clear that unless traditional news organizations staunch the bleeding, traditional newspapers may be reduced to a shadow of their present selves. This is more startling than the Subway fast food weight loss advertisements. Newspapers may be even more trim that the once-chubby Jared.
You can start your learning about the financial plight at these two links:
- Editor & Publisher, “Behind the McClatchy Layoffs”. One-second summary: Ads go away.
- Bloomberg, “Tribune, MediaNews May Wind Up in Default as Ad Sales Evaporate,” One-second summary: Default possible
Enterprises depending on branded news may want to increase their intake of unbranded news available via the Internet. I heard that Factiva is stepping up its professional services activity. Good move. Content licensing may be in for some rough water.
Stephen Arnold, June 19, 2008
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