Sunday, April 12, 2009

Newspapers will survive and thrive

David Dunn-Rankin writes:

News media think that whatever is happening to them must be happening to the rest of America. During the recession of '90-'91, the advertising-supported news media said it was the worst economy since the Great Depression. Most economists agree that the '73-'74 and '81-'82 recessions were more severe.

Advertising revenue is down dramatically. Advertising-supported media groups are experiencing layoffs. A recession is when your neighbor gets laid off. A depression is when you get laid off. A little perspective, please: An economic downturn is not the same as the end of an industry.

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