Tuesday, December 09, 2008

New York Times, NBC and the Tribune Co. in Financial Trouble

Media conglomerate Tribune Co., smothered by $13 billion in debt and a drop-off in advertising, on Monday became the first major newspaper publisher to seek bankruptcy protection since the Internet sent the industry into a tailspin.

A terrible fall season at NBC is forcing the network to consider scaling back the number of hours it airs programming, Chief Executive Jeff Zucker told an investor conference Monday. - The Huffington Post

NVDL: I am sure that bloggers will be there to pick up the pieces, providing news and entertainment (and everything in-between), and doing so for free.

The New York Times Company plans to borrow up to $225 million against its mid-Manhattan headquarters building, to ease a potential cash flow squeeze as the company grapples with tighter credit and shrinking profits.
Tribune Company Files For Bankruptcy Protection
mollysgran See Profile I'm a Fan of mollysgran

I lost interest in TV over 4 years ago, and only watch a few movies now and then. It is all a waste of time, and caters to dull minds. Books and the internet are the best way to stay informed.

roybattyjunior See Profile I'm a Fan of roybattyjunior

Good. 30 years of unfettered corporatism is following its master, Milton Friedman, to the grave. A fitting quote for his toxic legacy:

"O, what a tangled web we weave,
When first we practice to deceive!"


blog it

1 comment:

  1. Anonymous3:11 PM

    Bloggers can't pick up the pieces from newspapers! Where do you think that bloggers, TV and radio get all their information? From newspaper reporters! If newspapers collapse, there will be no news to aggregate. There will be no google news.

    We need a bailout for newspapers. If the auto industry is vital to the economy, newspapers are even more vital -- to the democracy. Only newspaper reporters can confront the special interests in our cities, states and nation with enough facts to stop them. Only newspapers reporters can provide the in-depth knowledge that you need to make informed decisions on daily current events.

    Newspapers have saved taxpayers countless times. It's time for taxpayers to save newspapers.

    Only there's one catch: A newspaper bailout can only go to newspapers with a workable strategic plan to plunge into the digital age. Taxpayer money must go to help newspapers leave the dead tree era behind. The democracy will be better off for it. It will be a much better long-term investment than saving the auto industry, and it will cost less.

    Read more at http://jgogek.wordpress.com/2008/12/10/bailout-for-newspapers-just-as-auto-industry-and-citibank-are-vital-to-economy-newspapers-are-vital-to-democracy/

    ... or at http://blog.jimgogek.com

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