Bleak Outlook for Newspaper Industry

From The American Thinker’s Graph of the Day feature by Randall Hoven for October 22, 2009.  It’s simple really. When content is bad, people stop buying.

“American society must now take some collective responsibility for supporting news reporting… through varying combinations of philanthropy, subsidy and government policy… What is paramount is preserving independent, original, credible reporting, whether or not it is profitable…”

 

Leonard Downie Jr., VP at large and former executive editor of the Washington Post and professor of journalism at Arizona State University, and Michael Schudson, professor of communication at Columbia University’s School of Journalism.  

Newspaper_circulation

Source:  Newspaper Association of America

Hoven’s Index for October 22, 2009

Number of NYT employees laid off  in March 2009:  100.

Amount of pay cut for most employees of the NYT announced in March 2009:  5%. 

Number of NYT newsroom layoffs announced in October 2009:  100. 

Total compensation package of Janet Robinson, CEO of the New York Times, in 2007:  $4.14 million.

In 2008:  $5.58 million
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