American newspaper crisis - Part II listen04/18/08 Mitch E. Perry
WMNF Drive-Time News Friday | Listen to this entire show:
More news of the newspaper industryâ€™s financial crisis came yesterday, when the New York Times Co. and Media General, the parent of the Tampa Tribune, each reported a loss in the first quarter this year amid decreasing declines in advertising revenue.
The Tribune Companyâ€™s new chief executive, Sam Zell, said his company expects to post double-digit declines in print-ad revenue for the quarter as well.
Itâ€™s this environment what led an analyst for Goldman Sachs to tell todayâ€™s Wall Street Journal that â€œit makes for probably the most challenging operating environment these companies have faced since forever.â€
Thereâ€™s a new documentary showing tomorrow in Tampa that examines the crisis in American newspapers. Itâ€™s called, Stop the Presses: The American Newspaper in Peril, and it was co-directed an produced by Tampa native Manny Mendoza. Mendoza spoke with WMNF about the film yesterday; we asked him about the danger that in the future only the New York Times will have the ability to pay for foreign reporting.
Stop the Presses: The American Newspaper in Peril will be playing at the Ybor Festival of the Moving Image at 11 a.m. Saturday at the HCC Performing Arts Building.