Monday, March 23, 2009

RIP newspapers

Peter Cochrane writes:

It had to happen sooner or later: newspapers are starting to abandon their traditional paper format to escape their certain and progressive demise. With the sales and readership of newsprint declining steadily everywhere, something had to give!

Just last week, news came that the Seattle Post-Intelligencer will switch to an all-online format, reducing staff from more than 160 to around 20 people. And perhaps more significant: it will now do less original reporting and more regurgitation of stories from multiple sources.

Will it work? No doubt about that. But will it make money? That depends on the business model and everyone is struggling with that conundrum right now. The Post lost $14m last year so it had to do something quickly.

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