Ellen Wallace
Media ::
Another suffering media story, but like the banking industry, we should pay attention because the roots of a much larger problem lie here. Everyone needs a bank, you say, but does everyone need journalists? The answer is yes, and I’ll save that argument for another day. For now, look at what’s happening to the LA Times, whose owner, Samuel Zell, tripled the company’s debt at a time when its revenues, like those throughout the industry, were falling. Since then, 1,000 jobs have been lost, confusion has reigned and it’s amazing a newspaper is produced every day.
Posted by :: Ellen Wallace on 17 September 2008 at 8:55 | permalink
GenevaLunch, 17 September 2008.
Filed under: Media
Tags: jobs, media crisis, newspapers
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