Monday, March 23, 2009

Facts and Figures

This CNN article provides an overview of the current state of the newspaper industry.
Facts include:

  • "At least 120 newspapers in the U.S. have shut down since January 2008."
  • "More than 21,000 jobs at 67 newspapers have vaporized in that time, according to the site."
  • "The chain that owns the Los Angeles Times and the Chicago Tribune is in bankruptcy."
  • "The industry's advertising revenue in 2008 was $38 billion, a staggering 23 percent drop from $49.5 billion the year before."
The article focuses on the decreasing ability of the newspaper industry to serve as a political watchdog but also predictions that market changes give larger, national newspapers the opportunity to seize market share. If the latter prediction holds true, newspapers like the New York Times could resurrect journalists' democratic check and the industry itself.

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