Posted on 02/16/2020 7:58:41 AM PST by devane617
McClatchy, the publisher of the Miami Herald, The Kansas City Star and dozens of other newspapers, has filed for bankruptcy protection as it struggles to pay off debt while revenue shrinks because more readers and advertisers are going online.
Right. Nothing to do with lawsuit filed by Nunes...
Virginia Judge Calls for Discovery in Nunes Defamation Suit
https://www.freerepublic.com/focus/f-backroom/3816902/posts
Awww factor of 4 out of 5.
“PBGC is not funded by general tax revenues. Its funds come from four sources:
- Insurance premiums paid by sponsors of defined benefit pension plans;
- Assets held by the pension plans it takes over;
- Recoveries of unfunded pension liabilities from plan sponsors’ bankruptcy estates;[a] and
- Investment income.”
https://en.wikipedia.org/wiki/Pension_Benefit_Guaranty_Corporation
McClatchy owns our once great local paper. They have made a mess out of it. A quick death would be the most humane outcome.
Good news coverage without the political propaganda may have kept them in the black. But Reds are always red in this country.
Hopefully, Gannett is next
It should be easy to choose local delivery (if you want it), add on regional news for a couple bucks extra per month, add on whole state for a few dollars more, etc on up to the national level.
I mean, seriously, call it the ‘press pass’ to make a single login credential for a wide variety of publications, paid monthly, quarterly or yearly, and there’ll be a big stinking pile of money sitting there to revive news.
Just let it sink now instead of throwing money away that won’t make a difference because the papers can not be made solvent.
To me it is content rather than access which has killed these organizations. Many can remember thirty years back when the Kansas City Star and the Arizona Republic were middle of the road papers with editorial stance to match.
Then, the inner city reader and temper became all important and little leftist journalists were left on their own. Bingo — both ruined.
Nothing would have kept them in the black. The internet (and programmable billboards) came out with more effective advertising for everything from used cars that fed the classifieds to new restaurants to a brand of car wax.
You can’t make newspapers advertisements competitive for reaching customers again, so you can’t make newspapers solvent.
And that evolution has directly led to such a massive decrease in subscriptions - you're catering to a population who is less likely to buy the newspaper and seek other sources of news from technology, vs conservative readers who are most likely to read and subscribe to traditional media.
But these go it alone subscription models are a bonanza for card processors, not for the newspapers themselves.
I canceled my newspaper subscription many years ago when they ran an AP story in which the weapon used in a crime was described as a “military assault style pistol “. I later found out the gun used was a 1911.
oddly enough, despite listing dozens of reasons why failing newspapers are failing, not once was it mentioned that becoming 100% leftist anti-Trump and anti-conservative propaganda organs wasn’t so good for business after all ...
Can anybody give me a list of all McClatchy newspapers.
“Nothing would have kept them in the black. The internet (and programmable billboards) came out with more effective advertising for everything from used cars that fed the classifieds to new restaurants to a brand of car wax. You can’t make newspapers advertisements competitive for reaching customers again, so you can’t make newspapers solvent.”
indeed ... the newspaper revenue game was always based on having THE monopoly on the biggest printing press in the region AND being the ONLY cost-effective media for mass distribution of detailed information and advertising ... the information (content)was simply the means to induce subscribers to subscribe, while the advertising was what the newspaper business was really all about ... as a consequence, newspapers could charge tens of thousands of dollars for a single page of advertising, though of course their operational and delivery costs were astronomical as well, plus their reach was mostly constrained by how far a truck could drive a load of newspapers overnight ...
now, along comes the internet where unlimited ads are delivered to the entire world instantly and and at near-zero cost at fractions of a cent per ad page delivered ...
printed newspapers were NEVER going to be able to compete once their monopoly was broken by the above advertising scheme ... all of their claims of converting to digital revenues were always pie-in-sky nonsense because you’re trying to replace millions of dollars of ad revenues and subscription revenues with a few pennies(plus your shiny new digital website just joined a bazillion other already established sites) ...
bankruptcy was always inevitable, and it was just a matter of the time it took for their existing subscribers to literally die off, as for all practical purposes no new subscriptions would be forthcoming and almost all ad revenue fled long ago ...
“I canceled my newspaper subscription many years ago when they ran an AP story in which the weapon used in a crime was described as a “military assault style pistol “”
the final straw for me was an AP article written by a bunch of guys with arabic names who wrote a sob story during the Persian Gulf Somalian piracy era, in which they expounded about how piracy was the only source of revenue for poor, starving pirate families, and referred to the head of one of these families as “Mr. Pirate” .... “Mr. Pirate”???!!!! ... are you shi!!ing me, i thought ... i never paid for a newspaper again after that ... and was totally woke to the fact that essentially all media was total propaganda, and never read another media article without mentally prying apart their lies and distortions ...
“Virginia Judge Calls for Discovery in Nunes Defamation Suit”
wow! good point!
FOR IMMEDIATE RELEASE
November 18, 2019
WASHINGTON – The Pension Benefit Guaranty Corporation’s (PBGC) Fiscal Year (FY) 2019 Annual Report, released today, shows a record deficit of $65.2 billion in its Multiemployer Insurance Program at the end of FY 2019. This increase from $53.9 billion at the end of FY 2018.......
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