Tuesday, March 24, 2009

News media chiefs: Finding new revenue a challenge

Readers and listeners have not left journalism, said those participating Monday night in a forum on journalism and public policy at the National Press Club. However, the business model upon which newspapers have operated is obsolete, the industry leaders said.

Reports of layoffs and furloughs at newspapers around the country have become common in recent months. Gannett Co., which publishes 85 daily newspapers, announced Monday that it was asking most of its 41,500 employees to give up a week's pay for the second time this year. The same day, Advance Publications, which publishes daily papers in nearly two dozen cities, said it was ordering 10-day furloughs and a pension freeze at nearly all its daily newspapers.

"There's no question it's revenue — and where it's going and how to get it and how to hold onto it," said Tom Curley, president and CEO of The Associated Press. "This is not about a declining market. This is about a growing market. The problem is the revenue is going in different directions."

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