Tuesday, December 2, 2008

More big newspaper cuts

Closings, consolidations, layoffs, the elimination of print editions on certain days of the week - those are the grim prospects for 2009, according to media watcher Alan Mutter. The financial picture is so bleak that newspaper executives aren't even bothering with full-year budgeting for 2009. Instead, they're preparing three-month forecasts. For now, the only bright spot is retail advertising, but only because merchants are so desperate to generate maximum sales during the holiday season. The problem, says Mutter at Reflections of a Newsosaur, is that come January, those ads will disappear.

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