Tuesday, January 27, 2009

More layoffs

The Missoulian is cutting six positions. And Lee Enterprises CEO Mary Junck will have to settle for her measly $850,000 salary. Meanwhile, I have heard but have been unable to confirm that Lee stock has been delisted from the New York Stock Exchange. Anybody heard anything?

Meanwhile, France is finding new ways to help its struggling newspaper industry. Before you go off blasting this as un-American, remember that the first U.S. bill providing preferential postal rates for newspapers was passed in 1792.

UPDATE: For a detailed (and lengthy) analysis of what wrong with newspapers and what to do about it, go here and here. The posts are especially enlightening on the long history of government subsidies for news.

5 comments:

Randy said...

David, I don't think Lee has been de-listed. Yet. At the close of trading today their stock closed at $0.38 which really doesn't say much for their future.

Anonymous said...

Here's a Web site that keeps tabs on the latest with Lee:
http://leewatch.blogspot.com/

Jay Larry Lundeen said...

It will be interesting to see what form local and regional print news will take in the future. Obviously, there is a major shake-up nationwide in this industry. Local businesses still need to advertise and local folks need weather info, sports results and news they can't get via internet and cable info outlets. So what'll be, a hybrid Web-and-print combo? Straight print in a stripped down form, with minimal staff? Straight Web with printable coupons?

Someone will find a formula that works; but it's very clear that the Times they are a changin'.

David said...

Jay,
That's the billion-dollar question right there. I wish the hell I knew the answer.

Dave said...

I had my own thoughts on newspapers a month and a half ago.