Gregory E. Favre: We are going through a period in our industry, at this moment, in which we seem to be searching for our souls; in which the feeding frenzy over the future of newspapers is in full bloom; in which every blogger in the world, with or without any knowledge or experience, seems to be gleefully writing our obituaries. The obits all mention recent circulation figures, but fail to mention that newspapers are holding on to more of their market share than almost all of their competitors. Readership, especially when you combine print with the Web, is doing quite well. And profits are still at extraordinarily high levels. Mr. Undertaker, hold off on the coffin orders for a while.
Yes, we are going through a period in which stockholders are making larger and larger demands and when there may well be sea change for some of our more venerable companies. And there will be deep pain and uncertainty for many of our friends and colleagues as jobs continue to be lost, an estimated 2,000 last year alone.
I was once the managing editor of a grand old newspaper, the Chicago Daily News, that has since died. It was a newspaper staffed with some of the finest and most talented people ever in our business, and that experience, that memory, the crushing pain of that final day in print, will always be with me. But it never stopped me from loving this craft we share.
I know I am an optimist, a true believer. Some might say I make Pollyanna look like a pessimist. So be it. I know that the best newspapers have always found a way to serve their readers with distinction, with strong and relevant content, and, at the same time, make a major profit. Now, we just have to convince Wall Street that journalism and business values are not incompatible.
Leave a comment