Newspapers Still Profitable; Wall Street Still Greedy

Media writer Nat Ives (AdvertisingAge.com, 2/23/09) throws some cold water on overheated reportage of “all the apocalyptic news about newspapers”: Even as they take blow after blow from recession and digital media, newspapers themselves still earn decent profits…. “Not a lot of papers are operating at a loss,” said John Morton, the veteran industry analyst. “There are roughly 1,400 daily newspapers. We only hear about the top markets. That leaves at least 1,300 papers out there.” Publicly owned newspapers averaged an operating profit of 10.8 percent in the first three quarters of last year. In fact, Ives tells us that, […]