One of my longest-running subscriptions, 35+ years, is to the New York Review of Books. In the August 16th issue is an essay by long-time New York Times columnist Russell Baker with this title on the fate of newspapers in the wake of emerging media platforms and ownership influences by the likes of Rupert Murdoch. Baker writes:
... Journalism was being whittled away by a Wall Street theory that profits
can be maximized by minimizing the product. Papers everywhere felt
relentless demands for improved stock performance. The resulting policy
of slash-and-burn cost-cutting has left the landscape littered with
frail, failing, or gravely wounded newspapers which are increasingly
useless to any reader who cares about what is happening in the world,
the country, and the local community. Cost-cutting has reduced the
number of correspondents stationed abroad, shriveled or closed news
bureaus in Washington, and crippled local reporting staffs which once
kept an eye on governors, mayors, state legislatures, small-town
rascals, crooks, and jury suborners. It has also shrunk the size of the
typical newspaper page, cutting the cost of newsprint by cutting news
content. ...
And on blogging:
... Blogging is a more interesting development, perhaps because bloggers
are so passionate about it. It is a valuable restraint on careless and
sloppy journalism, for the vigilance of the bloggers misses not the
slightest error or the least omission, and the fury of their rage is
terrible to bear. Committed bloggers insist that they are practicing
journalism just as surely as a correspondent like John Burns is
practicing journalism when reporting on the Iraq war from Baghdad for The New York Times.
Anyone wishing to debate the point must be ready to argue all night and
well into next week. What is indisputable is that practically every
blogger can now be a columnist. With vast armies of columnists blogging
away, it seems inevitable that a few may eventually produce something
original, arresting, and refreshing and so breathe new life into this
worn-out journalistic form. ...
I think that the NYRB eventually put s articles behind DRM, but this one is currently up and readable for free. Link: New York Review of Books.
I was reminded to post this to this blog by a commentary on Baker's essay by Peter Osnos of The Century Foundation (The Platform: "Goodbye to Newspapers?). He writes:
... Of course, news delivered on paper is in trouble. The declines in advertising
and circulation revenues are serious. The sale of Dow Jones to Rupert Murdoch
has symbolic and business consequences and the loss of 1½ inches from the
New York Times to save money on newsprint diminishes the size if not
the stature of this pillar of journalism. All these are reflections of profound
changes under way and not, it is widely assumed, for the better when it comes to
the way we get news. The dismal statistics are combined with news peoples’
natural tendency—an essential component in the business—to favor bad news over
good and to be skeptical of anyone at the helm. Nearly everyone in journalism
reads Romenesko, the daily billboard of news about the news and in its
comprehensive account of cuts and losses; the impression is unavoidable of
inexorable decline. ¶ But that story line, I believe, is only part of the story. Everything you’ve
read about the travails of the newspaper business is true. Yet as we head
towards Labor Day, a traditional time of renewal in news and business cycles, it
is worth noting what else is happening to the art and science of gathering and
delivering news that represents a future that is probably unavoidable and not
necessarily bad. The fundamental reality is that newsprint is being supplanted
and supplemented by digital technologies. ...
Link: The Century Foundation. Thanks to Antoine van Agtmael for the link to the Osnos commentary. Antoine is chairman of Emerging Markets Management LLC and author of The Emerging Markets Century: How a New Breed of World-Class Companies Is Overtaking the World. --Dennis