It isn’t just Fairfax on the ropes,
though they now have a chance to turn around their fortunes, but overseas, many left oriented tabloids are even further into financial disasters. And its not just technology that is the problem, but ideology and credibility too.
I take no pleasure in the misery of others, but as someone who recognizes that the mainstream media is the arch-villain in the fight for human liberty and the survival of an America that doesn’t resemble a European socialist country – yesterday, it was impossible for my heart to do anything other than leap for joy when I read that the New York Times lost $40 million in 2011.
No one wants to see anyone lose their job, but the New York Times, Washington Post, L.A. Times, and all the rest are nothing more than lairs for arch-villains, and when these hollowed-out volcanoes are bankrupted, the virtue of this outweighs what happens to the faceless henchmen who are now out on the streets looking for work. I wish them luck. I wish things were different. But this is about saving our country and humanity.
Over in England, some are openly panicking over the future of newspapers:
Online news sources such as Twitter and celebrity-focused blogs could put newspapers like The Sun out of business, its editor told a parliamentary committee on Thursday.
Dominic Mohan said that if such sites were able to report scandals that newspapers were forbidden to write about because of privacy injunctions, readers and advertising money could flow from the press to the internet.
Mr Mohan told the privacy and injunctions committee of peers and MPs: “We are competing for eyeballs with social media.”
New technology is part of the problem, to be sure, but the other part is credibility.