American newspaper crisis - Part II

04/18/08 Mitch E. Perry
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More news of the newspaper industry’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 Company’s new chief executive, Sam Zell, said his company expects to post double-digit declines in print-ad revenue for the quarter as well.

It’s this environment what led an analyst for Goldman Sachs to tell today’s Wall Street Journal that “it makes for probably the most challenging operating environment these companies have faced since forever.”

There’s a new documentary showing tomorrow in Tampa that examines the crisis in American newspapers. It’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.

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