Wednesday, April 20, 2005

Los Angeles Business Journal Online

Now is not the time to buy printing ink stocks if the news from the L.A.Times is indicative of the current trend. Newspapers are losing circulation to online sources. The Times suggest that the company is simply dropping unprofitable circulation. Papers have been dropping unprofitable circulation at a more rapid pace in the past few years.

I spoke to a real estate agent a couple of days ago. I asked him about the advertising he does to sell a house. He said he markets homes over the internet but he runs one ad in the local paper to keep the seller happy! This is a telling story. I wonder how many ads are being run in newspapers, not because they are effective but because "this is the way it is done"?

A friend of mine is attending the World Poker Tour Tournament in Las Vegas. He contacted the Greensboro News before going and has arranged to post a series of stories about the tournament. His purpose? To get a press pass! He hopes to hobnob with Doyle Brunson and the other champion players. Greensboro is one of the first papers to actively seek out "blogging" stories. Greensboro plans to offer more articles for a lower price.

The news media is dead; long live the news media!