Newspapers Know No End To Turmoil

NEWSPAPERS KNOW NO END TO TURMOIL
[SOURCE: Washington Post, AUTHOR: Frank Ahrens]
It's no exaggeration to say that bad news comes every day for the embattled newspaper industry. Yesterday, the editor of the Philadelphia Inquirer became the second top editor of a major newspaper in two days to leave. Also yesterday, investors increased pressure on the New York Times Co. to scrap its venerated family-ownership structure, saying it has harmed the company's value and is no longer accountable to public shareholders. Facing declining circulation since 1987 and diminished revenue for the past few years, major newspapers and their owners are trying to remake themselves for the digital age. Most papers have moved aggressively into Internet -- and some, mobile -- delivery of their news and ad sales, as they attempt to follow their readers from paper to the Web and beyond. But the changeover has been costly, and even though online ad revenue has been rising, it is not enough to offset the loss of classified and display advertising in newspapers. Newspaper companies also are feeling pressure from Wall Street investors, who see an industry that shows little or no growth potential.
http://www.washingtonpost.com/wp-dyn/content/article/2006/11/08/AR2006110801398.html
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