By Paul Armstrong, Business Week
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In chronicling the media’s contractions through @themediaisdying at Twitter, I’ve described these efforts as akin to watching Titanic and The Perfect Storm as if they were one movie. Ironically, it takes roughly 90 minutes each day to post and bear witness to the unprecedented implosion of the publishing industry. In doing this, two questions occur to me regularly: “How far through this movie are we?” and “Who’s captaining this ship?”
Given the 1,600 layoffs newspaper publisher McClatchy (MNI) announced on Mar. 9 and the recent flurry of newspaper “deaths,” mass firings, and additional uncertainty, from San Francisco to Philly, San Antonio to Denver and Milwaukee, it is clear that local papers are facing their demise. And when you realize that some of these papers have been around for more than a century, surviving multiple wars and economic upheavals, you know quickly that the current period is more than the economic crisis and loss of advertising confidence: Something is deeply “wrong” at the core.