The decline of newspapers has been widely debated, as the industry has faced slumping ad sales, the loss of much classified advertising and precipitous drops in circulation. In recent years the number of newspapers slated for closure, bankruptcy or severe cutbacks has risen, especially in the United States, where the industry has shed a fifth of its journalists since 2001.[1] Revenue has plunged while competition from Internet media has squeezed older print publishers.[1][2] A once-explosive growth in newspaper Web revenues has leveled off, forestalling what the industry hoped would become an important source of revenue.[3] One issue is whether the newspaper industry is in a cyclical trough and will recover, or whether new technology has rendered newspapers obsolete in their traditional format. To survive, newspapers are considering combining and other options,[4] although the outcome of such partnerships has been criticized.[5] Despite these problems, newspaper companies with significant brand value and which have published their work online have had a significant rise in viewership. Causes for decline Performance in the market (2000-present) Edit United States Edit Since the beginning of 2009, the United States has seen a number of major metropolitan dailies shuttered or drastically pruned after no buyers emerged, including the Rocky Mountain News, closed in February, and the Seattle Post-Intelligencer, reduced to a bare-bones Internet operation.[16] San Francisco Chronicle narrowly averted closure when employees made steep concessions.[17] In Detroit, both newspapers, Detroit Free Press and The Detroit News, slashed home delivery to three days a week, while prodding readers to visit the newspapers' Internet sites on other days.[18] In Tucson, Arizona, the state's oldest newspaper, the Tucson Citizen, said it would cease publishing on March 21, 2009, when parent Gannett Company failed to find a buyer.[19] A number of other large, financially troubled newspapers are seeking buyers.[20] One of the few large dailies finding a buyer is The San Diego Union-Tribune, which agreed to be sold to a private equity firm for what The Wall Street Journal called "a rock-bottom price" of less than $50 million - essentially a real estate purchase.[21] (The newspaper was estimated to have been worth roughly $1 billion as recently as 2004.)[22] The Sun-Times Media Group, publisher of the eponymous bankrupt newspaper, fielded a meager $5 million cash bid, plus assumption of debt, for assets last claimed worth $310 million. Large newspaper chains filing bankruptcy since December 2008 include the Tribune Company, the Journal Register Company, the Minneapolis Star Tribune, Philadelphia Newspapers LLC, Sun-Times Media Group and Freedom Communications.[23] Some newspaper chains that have purchased other papers have seen stock values plummet.[24] The McClatchy Company, the nation's third-largest newspaper company, was the only bidder on the Knight Ridder chain of newspapers in 2005. Since its $6.5 billion Knight Ridder purchase, McClatchy's stock has lost more than 98% of its value.[25] McClatchy subsequently announced large layoffs and executive pay cuts, as its shares fell into penny stock territory.[26] (Although McClatchy faced delisting from the New York Stock Exchange for having a share price below $1, in September 2009, it was able to overcome this threat.[27] Others have not been so lucky. In 2008 and 2009, three other U.S. newspaper chains have seen their shares delisted by the New York Stock Exchange.[28]) Other newspaper company valuations have been similarly punished: the stocks of Gannett Company, Lee Enterprises and Media General traded at less than two dollars per share by March 2009, with The Washington Post Company's stock faring better than most, thanks to diversification into educational training programs - and away from publishing.[29] Similarly, UK-based Pearson PLC, owner of the Financial Times, increased earnings in 2008 despite a drop in newspaper profits, thanks to diversification away from publishing.[30] The New York Times Company, hard-pressed for cash as its shares slid below five dollars per share, suspended its dividend, sold and leased back part of its headquarters, and sold preferred shares to Mexican businessman Carlos Slim in return for a cash infusion. But the credit rating agencies still cut the rating on Times Company's debt to junk status, and the cash crunch at The New York Times prompted it to threaten to shutter The Boston Globe unless workers made deep concessions.[31] Even New News Corp., the diversified media holding company overseen by Rupert Murdoch, was hit, forced to write down much of the value of newspaper publisher Dow Jones & Company that it purchased for $5 billion in 2007.[32][33] Apparently shelved are plans announced by Murdoch at the time of the acquisition to expand The Wall Street Journal's newsroom. One development occurred in mid 2013, when billionaire Jeff Bezos, founder of Amazon.com, paid US$250 million for The Washington Post and several smaller newspapers. (The Post company had sold Newsweek a few years earlier.) The purchase, which ended the more than 80-year ownership of the paper by the Graham family, was called "generous"[citation needed] by publisher Katharine Weymouth, who was asked to remain at the helm. When it was noted that the paper might have to run stories which are critical of Amazon.com or Bezos in the future, Bezos agreed not to interfere with the newspaper's independence. Others[who?] have said that Bezos drastically overpaid for the paper, and that late publisher Katharine Graham might[weasel words] not have made the sale.[citation needed] The deterioration in the United States newspaper market led one senator to introduce a bill in March 2009 allowing newspaper companies to restructure as nonprofit corporations with an array of tax breaks.[34] The Newspaper Revitalization Act would allow newspapers to operate as nonprofits similar to public broadcasting companies, barring them from making political endorsements.[35][36] A 2015 report from the Brookings Institution shows that the number of newspapers per hundred million population fell from 1,200 (in 1945) to 400 in 2014. Over that same period, circulation per capita declined from 35 percent in the mid-1940s to under 15 percent. The number of newspaper journalists has decreased from 43,000 in 1978 to 33,000 in 2015. Other traditional news media have also suffered. Since 1980 the television networks have lost half their audience for evening newscasts; the audience for radio news has shrunk by 40%.[37] United Kingdom Edit In the United Kingdom, newspaper publishers have been similarly hit. In late 2008 The Independent announced job cuts, and in 2016 The Independent's print edition ceased circulation.[38] In January the chain Associated Newspapers, now DMG Media, sold a controlling stake in the London Evening Standard as it announced a 24% decline in 2008 ad revenues. In March 2009 parent company Daily Mail and General Trust said job cuts would be deeper than expected, spanning its newspapers, which include the Leicester Mercury, the Bristol Evening Post and the Derby Telegraph.[39] One industry report predicted that 1 in 10 UK print publications would cut its frequency of publication in half, go online only or shut in 2009.[40] Elsewhere Edit Newspaper market in Salta, Argentina, 2009 The challenges facing the industry are not limited to the United States, or even English-speaking markets. Newspapers in Switzerland and the Netherlands, for instance, have lost half of their classified advertising to the Internet.[41] At its annual convention[42] slated for May 2009, in Barcelona, Spain, the World Association of Newspapers and News Publishers has titled the convention's subject "Newspapers Focus on Print & Advertising Revenues in Difficult Times".[43] In September 2008, the World Association of Newspapers called for regulators to block a proposed Google-Yahoo! advertising partnership, calling it a threat to newspaper industry revenues worldwide.[44] The WAN painted a stark picture of the threat posed to newspapers by the search engine giants. "Perhaps never in the history of newspaper publishing has a single, commercial entity threatened to exert this much control over the destiny of the press," said the Paris-based global newspaper organization of the proposed pact.[45] But there are bright spots in the world market for newspapers. At its 2008 convention, held in Gothenburg, Sweden, the World Association of Newspapers released figures showing newspaper circulations and advertising had actually climbed in the previous year. Newspaper sales were up nearly 2.6% the previous year, and up 9.4% over the past five years. Free daily newspapers, noted the WAN, accounted for nearly 7% of all global newspaper circulation - and a whopping 23% of European newspaper circulation.[46] Of the world's 100 best-selling daily newspapers, 74 are published in Asia - with China, Japan and India accounting for 62 of those. Sales of newspapers rose in Latin America, Asia and the Middle East, but fell in other regions of the world, including Western Europe, where the proliferation of free dailies helped bolster overall circulation figures. While Internet revenues are rising for the industry, the bulk of its Web revenues come from a few areas, with most revenue generated in the United States, western Europe and Asia-Pacific region.[46] Technological change Financial strategies Crisis Outlook See also References Further reading External links Last edited 14 days ago by an anonymous user RELATED ARTICLES Paywall system that prevents Internet users from accessing webpage content without a paid subscription Newspaper scheduled publication containing news of events, articles, features, editorials, and advertising Journalism and freedom
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الغرب هو الذي يفتن الشعوب العربية والإسلامية بقنوات عربية و كلخ العرب بش متقدموش يبقاو هما ديما لفوق و احنا لتحت
ههههه ما هادى الخرء وانا ايييه
جبريل اخبار ابناءك سلمى روءى قلبي وخديجة
The decline of newspapers has been widely debated, as the industry has faced slumping ad sales, the loss of much classified advertising and precipitous drops in circulation. In recent years the number of newspapers slated for closure, bankruptcy or severe cutbacks has risen, especially in the United States, where the industry has shed a fifth of its journalists since 2001.[1] Revenue has plunged while competition from Internet media has squeezed older print publishers.[1][2]
A once-explosive growth in newspaper Web revenues has leveled off, forestalling what the industry hoped would become an important source of revenue.[3] One issue is whether the newspaper industry is in a cyclical trough and will recover, or whether new technology has rendered newspapers obsolete in their traditional format. To survive, newspapers are considering combining and other options,[4] although the outcome of such partnerships has been criticized.[5] Despite these problems, newspaper companies with significant brand value and which have published their work online have had a significant rise in viewership.
Causes for decline
Performance in the market (2000-present) Edit
United States Edit
Since the beginning of 2009, the United States has seen a number of major metropolitan dailies shuttered or drastically pruned after no buyers emerged, including the Rocky Mountain News, closed in February, and the Seattle Post-Intelligencer, reduced to a bare-bones Internet operation.[16] San Francisco Chronicle narrowly averted closure when employees made steep concessions.[17] In Detroit, both newspapers, Detroit Free Press and The Detroit News, slashed home delivery to three days a week, while prodding readers to visit the newspapers' Internet sites on other days.[18] In Tucson, Arizona, the state's oldest newspaper, the Tucson Citizen, said it would cease publishing on March 21, 2009, when parent Gannett Company failed to find a buyer.[19]
A number of other large, financially troubled newspapers are seeking buyers.[20] One of the few large dailies finding a buyer is The San Diego Union-Tribune, which agreed to be sold to a private equity firm for what The Wall Street Journal called "a rock-bottom price" of less than $50 million - essentially a real estate purchase.[21] (The newspaper was estimated to have been worth roughly $1 billion as recently as 2004.)[22] The Sun-Times Media Group, publisher of the eponymous bankrupt newspaper, fielded a meager $5 million cash bid, plus assumption of debt, for assets last claimed worth $310 million.
Large newspaper chains filing bankruptcy since December 2008 include the Tribune Company, the Journal Register Company, the Minneapolis Star Tribune, Philadelphia Newspapers LLC, Sun-Times Media Group and Freedom Communications.[23]
Some newspaper chains that have purchased other papers have seen stock values plummet.[24] The McClatchy Company, the nation's third-largest newspaper company, was the only bidder on the Knight Ridder chain of newspapers in 2005. Since its $6.5 billion Knight Ridder purchase, McClatchy's stock has lost more than 98% of its value.[25] McClatchy subsequently announced large layoffs and executive pay cuts, as its shares fell into penny stock territory.[26] (Although McClatchy faced delisting from the New York Stock Exchange for having a share price below $1, in September 2009, it was able to overcome this threat.[27] Others have not been so lucky. In 2008 and 2009, three other U.S. newspaper chains have seen their shares delisted by the New York Stock Exchange.[28])
Other newspaper company valuations have been similarly punished: the stocks of Gannett Company, Lee Enterprises and Media General traded at less than two dollars per share by March 2009, with The Washington Post Company's stock faring better than most, thanks to diversification into educational training programs - and away from publishing.[29] Similarly, UK-based Pearson PLC, owner of the Financial Times, increased earnings in 2008 despite a drop in newspaper profits, thanks to diversification away from publishing.[30]
The New York Times Company, hard-pressed for cash as its shares slid below five dollars per share, suspended its dividend, sold and leased back part of its headquarters, and sold preferred shares to Mexican businessman Carlos Slim in return for a cash infusion. But the credit rating agencies still cut the rating on Times Company's debt to junk status, and the cash crunch at The New York Times prompted it to threaten to shutter The Boston Globe unless workers made deep concessions.[31] Even New News Corp., the diversified media holding company overseen by Rupert Murdoch, was hit, forced to write down much of the value of newspaper publisher Dow Jones & Company that it purchased for $5 billion in 2007.[32][33] Apparently shelved are plans announced by Murdoch at the time of the acquisition to expand The Wall Street Journal's newsroom.
One development occurred in mid 2013, when billionaire Jeff Bezos, founder of Amazon.com, paid US$250 million for The Washington Post and several smaller newspapers. (The Post company had sold Newsweek a few years earlier.) The purchase, which ended the more than 80-year ownership of the paper by the Graham family, was called "generous"[citation needed] by publisher Katharine Weymouth, who was asked to remain at the helm. When it was noted that the paper might have to run stories which are critical of Amazon.com or Bezos in the future, Bezos agreed not to interfere with the newspaper's independence. Others[who?] have said that Bezos drastically overpaid for the paper, and that late publisher Katharine Graham might[weasel words] not have made the sale.[citation needed]
The deterioration in the United States newspaper market led one senator to introduce a bill in March 2009 allowing newspaper companies to restructure as nonprofit corporations with an array of tax breaks.[34] The Newspaper Revitalization Act would allow newspapers to operate as nonprofits similar to public broadcasting companies, barring them from making political endorsements.[35][36]
A 2015 report from the Brookings Institution shows that the number of newspapers per hundred million population fell from 1,200 (in 1945) to 400 in 2014. Over that same period, circulation per capita declined from 35 percent in the mid-1940s to under 15 percent. The number of newspaper journalists has decreased from 43,000 in 1978 to 33,000 in 2015. Other traditional news media have also suffered. Since 1980 the television networks have lost half their audience for evening newscasts; the audience for radio news has shrunk by 40%.[37]
United Kingdom Edit
In the United Kingdom, newspaper publishers have been similarly hit. In late 2008 The Independent announced job cuts, and in 2016 The Independent's print edition ceased circulation.[38] In January the chain Associated Newspapers, now DMG Media, sold a controlling stake in the London Evening Standard as it announced a 24% decline in 2008 ad revenues. In March 2009 parent company Daily Mail and General Trust said job cuts would be deeper than expected, spanning its newspapers, which include the Leicester Mercury, the Bristol Evening Post and the Derby Telegraph.[39] One industry report predicted that 1 in 10 UK print publications would cut its frequency of publication in half, go online only or shut in 2009.[40]
Elsewhere Edit
Newspaper market in Salta, Argentina, 2009
The challenges facing the industry are not limited to the United States, or even English-speaking markets. Newspapers in Switzerland and the Netherlands, for instance, have lost half of their classified advertising to the Internet.[41] At its annual convention[42] slated for May 2009, in Barcelona, Spain, the World Association of Newspapers and News Publishers has titled the convention's subject "Newspapers Focus on Print & Advertising Revenues in Difficult Times".[43]
In September 2008, the World Association of Newspapers called for regulators to block a proposed Google-Yahoo! advertising partnership, calling it a threat to newspaper industry revenues worldwide.[44] The WAN painted a stark picture of the threat posed to newspapers by the search engine giants. "Perhaps never in the history of newspaper publishing has a single, commercial entity threatened to exert this much control over the destiny of the press," said the Paris-based global newspaper organization of the proposed pact.[45]
But there are bright spots in the world market for newspapers. At its 2008 convention, held in Gothenburg, Sweden, the World Association of Newspapers released figures showing newspaper circulations and advertising had actually climbed in the previous year. Newspaper sales were up nearly 2.6% the previous year, and up 9.4% over the past five years. Free daily newspapers, noted the WAN, accounted for nearly 7% of all global newspaper circulation - and a whopping 23% of European newspaper circulation.[46] Of the world's 100 best-selling daily newspapers, 74 are published in Asia - with China, Japan and India accounting for 62 of those.
Sales of newspapers rose in Latin America, Asia and the Middle East, but fell in other regions of the world, including Western Europe, where the proliferation of free dailies helped bolster overall circulation figures. While Internet revenues are rising for the industry, the bulk of its Web revenues come from a few areas, with most revenue generated in the United States, western Europe and Asia-Pacific region.[46]
Technological change
Financial strategies
Crisis
Outlook
See also
References
Further reading
External links
Last edited 14 days ago by an anonymous user
RELATED ARTICLES
Paywall
system that prevents Internet users from accessing webpage content without a paid subscription
Newspaper
scheduled publication containing news of events, articles, features, editorials, and advertising
Journalism and freedom