Friday, February 5, 2016

Goodbye local printed paper business

Older folks like to read obituaries.

Once the 65 plus category goes over the demographic/financial cliff, it's over.
"News Corp.'s revenue fell for the fourth quarter in a row, hurt by a slump in its core news and information services business, which includes Dow Jones and The Wall Street Journal.

...print advertising remained challenged

...Revenue at News Corp.'s news and information services unit declined 8.1 percent to $1.40 billion from a year earlier. The division, which accounted for about 65 percent of total revenue, also owns The New York Post and The Sun.

News Corp.'s segment advertising revenue fell 12 percent in the quarter. 

...Newspaper and magazine publishers have been under unabated pressure to offset a decline in print advertising dollars by shoring up their digital business to attract advertisers and by boosting subscriptions.

News Corp.'s quarterly results come as fellow media companies Yahoo and 21st Century Fox announced job cuts this week. After its earnings miss Tuesday, Yahoo announced that it is planning on cutting about 15 percent of its workforce as part of a restructuring plan. On Monday, 21st Century Fox said that it intends to trim $250 million in personnel costs.

News Corp. announced a major reorganization at its Dow Jones news publishing unit in June. Dow Jones said it would close bureaus in Prague and Helsinki and eliminate 100 jobs, according to a Journal report."

Newspapers are being replaced with smart phones.

Greensboro's newspaper owners are interested in making money, but as a byproduct of controlled messaging.