Postmedia’s newspapers are now competing in an online market increasingly dominated by Google, Facebook and Apple, companies with hundreds of billions of dollars in market capitalization that are building their own platforms to deliver news. So can the promised new initiatives turn the tide? The challenge remains of finding a way to keep up journalistic quality while generating enough cash to pay creditors.
Old Conrad Black nailed the problem in the conference call: “Some of those newspapers have deteriorated a long way from what I remember,” Mr. Black said on the call. “Some of it you can’t avoid; some of it, you can. But please build the quality. Otherwise, you’re going to retreat right into your own end zone, if you’ll pardon the sports metaphor.”
ReplyDeleteEven the so-called "right wing" newspapers are wimpy big-government apologists these days. Maybe it's because they have so muck debt of their own. The old pot-kettle conundrum.