Another OMB
Jun 10th 2008, 12:07 PM
Multimedia companies like Gannett and Media General are being dragged down by the losses in their newspaper divisions. Gannett just announced a write down of between $2.5 billion and $3 billion.
The buzzword at those companies, and others, has been "convergence", as reporters and photographers provide content for television, newspaper and the web.
But will the possible demise of the newspaper industry force those multimedia companies to divest themselves of their papers, eliminating a major part of the convergence that was/is going to be the next big thing?
I think part of the push toward VJs is that these companies are trying to do more with less, since the companies are losing so much because of the newspapers. I know Gannett is big on "backpack journalists" (VJs) and Media General has some, too.
I'm wondering: if they do ever get out of newspapers (and that's a big "if"), will that slow down the migration toward VJs at all, do you think? Or do you think VJs are inevitable because of the economics at the TV stations alone?
The buzzword at those companies, and others, has been "convergence", as reporters and photographers provide content for television, newspaper and the web.
But will the possible demise of the newspaper industry force those multimedia companies to divest themselves of their papers, eliminating a major part of the convergence that was/is going to be the next big thing?
I think part of the push toward VJs is that these companies are trying to do more with less, since the companies are losing so much because of the newspapers. I know Gannett is big on "backpack journalists" (VJs) and Media General has some, too.
I'm wondering: if they do ever get out of newspapers (and that's a big "if"), will that slow down the migration toward VJs at all, do you think? Or do you think VJs are inevitable because of the economics at the TV stations alone?