In 5 years:
1. No more NYT
2. No more Time
3. No more Newsweak
Mark my words.
From your lips to God’s ears. Let’s hope that you are right...and the timeline is even shorter!
Newsweek had to sell their souls to the Daily Beast to even keep heads above water. The NYT is being kept alive by the Bertelsmann media group (who have a very interesting history); the NYT sold off their interest in BPI Communications to Bertelsmann, and they currently have a "partnership" with Der Spiegel.
In 5 years:Mark my words.
- No more NYT
- No more Time
- No more Newsweak
NEW YORK—November 12, 2010—Newsweek magazine and The Daily Beast, an operating company of IAC [NASDAQ: IACI], announced today they have agreed to merge their operations in a joint venture to be owned equally by Sidney Harman and IAC.
The new entity will be called The Newsweek Daily Beast Company. The directors of the joint venture will include Dr. Harman as Executive Chairman, IAC Chairman Barry Diller, and one director each to be appointed from either side.
Dr. Harman (husband of Cong. Jane Harman) who acquired Newsweek magazine from the Washington Post Co. over the summer, said: “In an admittedly challenging time, this merger provides the ideal combination of established journalism authority and bright, bristling website savvy. I like partnering with Barry Diller and I look forward to building our company with Tina Brown and Stephen Colvin.”
Sidney Harman is Founder and Chairman Emeritus of Harman International, the worldwide audio manufacturer. He served as U.S Deputy Secretary of Commerce, founded the Program on Technology, Public Policy and Human Development at Harvard University and holds a Presidential Chair at the University of Southern California where he is Professor of Polymathy. He is a trustee of the California Institute of Technology. He is the founder of the Harman Center for the Arts and of Sidney Harman Hall in Washington, D.C.
Tina Brown, a founding partner and Editor-in-Chief of The Daily Beast, will be Editor-in-Chief of both Newsweek magazine and The Daily Beast. The President of The Daily Beast, Stephen Colvin, will serve as CEO of the
combined venture.
http://www.thedailybeast.com/articles/2010/11/12/newsweek-daily-beast-merge-announcement.html
One popular myth is that news publications are declining because younger people use the Internet for that. That is true to a certain extent, but the real factor is that newspapers all have the same monotone liberal Democrat slant. Once upon a time, there were vast numbers of papers with a great diversity of opinion. Their numbers started dwindling for a number of reasons, one being the much higher cost of operating a newspaper business after WWII.
“In 5 years:
1. No more NYT
2. No more Time
3. No more Newsweak
Mark my words.”
4. No more GM either .................................. FRegards