Wednesday, November 19, 2008

Te death of newspapers?

Phil Power writes:

Most of us are aware of our state and national economic crisis. But there is something else looming that few have noticed — and which will profoundly affect the way our country works.

Newspapers as we know them are imploding, maybe not quite as dramatically and rapidly as the domestic auto industry, but just as surely. Basically, the Internet has crushed two of the mainstays of the industry's business model. Most classified advertising has migrated to free sites such as Monster.com and Craigslist.

Meanwhile, most folks under 30 have largely quit reading actual printed papers, preferring to surf their content on the Web. And despite frantic efforts, nobody in the newspaper business has figured out how to generate much revenue off Web operations.


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