K
KiRby
Guest
Newspapers are still among the best media businesses... no competitor in local markets has held onto audience as well as newspapers have...
We certainly have competition from Google and others. But in each of the communities where we compete, almost every newspaper has the largest news staff, largest sales force, biggest audience and greatest share of advertising in its market. Whether it's on the Internet or off the presses, we are capturing that business.
...Simply put, more people want our products today than wanted them yesterday; this is hardly the profile of a dying industry.
After Pruitt published that op-ed and completed his company's acquisition of Knight-Ridder newspaper group, his company's shares fell to less than $2 from $48.We certainly have competition from Google and others. But in each of the communities where we compete, almost every newspaper has the largest news staff, largest sales force, biggest audience and greatest share of advertising in its market. Whether it's on the Internet or off the presses, we are capturing that business.
...Simply put, more people want our products today than wanted them yesterday; this is hardly the profile of a dying industry.
Of course Murdoch has faith in newspapers. That's self-evident. Like Pruitt when he published his op-ed, Murdoch's just made a huge investment in the future of newspapers. Hopefully he's right! And hopefully he can really cement the public perception of newspapers as "news [readers] can trust" by not sweeping his company's stock-moving errors under the rug so often, and getting the name Canada straight. They're little things, and to a certain extent unavoidable, but they add up.
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