Financial mismanagement to blame for recent newspaper bankruptcies?
Newsweek’s Daniel Gross has an interesting take on the recent troubles in the newspaper industry. While he admits fully that the business model is not viable, he also chronicles the financial mismanagement of several major newspapers/chains that are in bankruptcy or shut down.
“Each company was undone in large measure by really stupid (and in one case criminal) activities by managers.”
I definitely agree with Gross’ point, but the real issue remains finding a viable business model for print journalism — or admiting defeat and moving on to a wholly new type of journalism.
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