No Substitute for Excellence

[SOURCE: Wall Street Journal, AUTHOR: Jack Liebau, Liebau Asset Management]
[Commentary] Newspapers remain valuable franchises. Managed wisely, they can fulfill their public-service mission while remaining good businesses with strong profits. Readership remains strong and newspapers are one of the few mass-medium outlets left for advertisers. On an average weekday, 77% of adults in the top 50 markets read a newspaper at least once daily, as do 68% of 18- to 34-year-olds. And in general, newspapers have successfully embraced the Internet; they operate 11 of the top 25 online news and information Web sites -- at a time when one-third of the entire Internet population visits newspaper Web sites. Publishers should concentrate on what they can control: Along with increasing circulation, editorial excellence is a prerequisite
http://online.wsj.com/article/SB113392668710615967.html?mod=todays_us_opinion
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