Newspapers Are Dying; Civic Minded Billionaires Buying Newspapers Instead of Yachts. Hold on to Old Look, Format, & Contenting, But Add Digital Media

SITUATION:
The scope, audience, and revenue streams for newspapers is under review.
More than a quarter of American newspapers disappeared in last few years.
The information wants to be free concept was a misguided strategy.
Wealthy investors see themselves as civic minded investors come to rescue.
Newspaper staffers claim WSJ & others not robust,–lacks standards & social media.

SIGNIFICANCE:
How people get their news is core challenge and what has changed.
Need to widen the scope of newspaper coverage including format & content.
Individual benevolent investors are funding a new Fourth Estate.
Advertising model seems to be preserved after layoffs cut costs.

SOLUTIONS:
Investment & Buy Outs by billionaire owners with worthy mission are saviors.
WSJ Study Group published 209 page blueprint, “The Content Review”
Report reflected that newspapers needed to attract younger audience.
Future of print media lies within the forms of journalism & new information economy.
Need for more content about women & climate: How people work & what they read.
Some newspapers have become non-profits after buy outs.

Examples of Buyouts of Newspapers:
Tribute Publishing by Swiss billionaire
Los Angeles Times by local investors

Publications & Sites Created to Counter Newspaper Demise:
http://www.noted.com
The Content Review [https://www.wsj.com/noted]
Chalkbeat [Elizabeth Green, Founder]ew Tribune Publishing Strategy

SEZ:
“Number one reason we lose subscribers is that they die”—Shared Joke at WSJ

SOURCES:

NYT 4 11 21 Sunday  issue – “Who is Going to Save Newspapers? [ Two full page insert with news copy]
https://www.nytimes.com/2021/04/10/business/newspaper-billionaire-owners.html

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