Maybe Big Media should get next bailout
Posted by James McPherson on December 9, 2008
It worked for the banks, and now apparently for auto makers (who may have become too accustomed to long-term financing, since they may be viewing the expected bailout as merely a down payment). Maybe Big Media should be the next poorly run industry in line for a government handout.
In what the Huffington Post termed “Media Meltdown Monday,” the New York Times, the Tribune Company (owner of the Chicago Tribune, L.A. Times and Baltimore Sun, among others) and NBC all announced bad news yesterday.
That news came just days after the Scripps Company announced that its Rocky Mountain Newswas up for sale–or, as RMN writer Mike Littwin put it, “read: doomed“–and on the heels of announcements from newspapers all over the country that they were for sale and/or cutting back on people, production and public service (OK, I added the last part). “The Newshour” on PBS devoted a segment to the Tribune case and related issues last night, and offers a series of online videos about various aspects of the media crisis.
Piling on, today the New York Times’ Stuart Elliot writes–in a story bluntly headlined “Next Year is Looking Even Worse,” that “advertising is bracing for the possibility of the first two consecutive yearly declines in spending since the early days of the Great Depression.” And in the last line of its story about the Tribune Company, Columbia Journalism Review offers this dire warning: “Think the news has been bad for the industry in the last couple of years? The real blood-letting is about to begin.”
Just months after buying the LA Times (despite the fact that many regular watchers of CNBC–or of HGTV–could have pointed out that California property values were overinflated) the Tribune Company is filing for bankruptcy. Perhaps the Illinois governor should have been more worried about the company’s board of directors than about its editorial board.
Of the news organizations now suffering, the Tribune Company is perhaps the toughest of the group to feel sorry for, thanks to owner Sam Zell, “the newspaper mogul who despises journalism, the real estate tycoon who once told the Tribune’s Washington staff they were so much ‘overhead,’ the self-proclaimed Viagra of the industry whose ‘innovation’ guru he brought in from the radio world didn’t understand that L.A. Times reporters in Iraq were actually reporting from Iraq … In less than a year’s time, Zell took the Tribune private and then took the company to bankruptcy. That has to be some kind of record.”
Still, some of us remember that the conservative Chicago Tribune was doing meaningful investigative journalism before most other news organizations, regularly uncovering governmental abuses of the type now being reported about Illinois Gov. Rod Blagojevich. Of course, some might argue that finding corruption in Chicago is about as difficult as finding Easter eggs on the White House lawn during the annual hunt, but the same probably is true of most major cities–it’s just that most newspapers don’t work as hard to uncover the abuses as the Tribune once did.
The fact is, most newspapers don’t have enough staffers to do the most important things that journalists should do: keep an eye on government. Jennifer Dorroh, managing editor of American Journalism Review, recently pointed out that local reporters of the type who uncovered the corruption of California Congressman Randy “Duke” Cunningham are an “endangered species.”
There is another major reason for journalists and those of us who train journalists to be worried about the Trib’s collapse. Besides the harm that bankruptcy judges or others might do to the newspaper or to journalism, Littwin notes, “Apparently it’s hard to gloat and work on your resume at the same time.”
Even more troubling for most people who care about good journalism might be the news about the problems of the New York Times. Today the Times offers an Associate Press story about its talks with lenders, though the headline for that story is far less noticeable than the headline (with photo) about Christie Hefner resigning from her position as Playboy CEO.
As for NBC, it announced this week that it may cut back on programming (what, Fox got all the good reality shows?) and that late-night host Jay Lenowould be doing a five-nights-a-week 10 p.m. program. Interestingly, the MSNBC Web site went with the Associated Press reports for both stories about Leno (too many commentators, not enough reporters at the network?). As the report notes, “A talk show is considerably cheaper to produce than the dramas that usually air at 10 p.m.”
So maybe news organizations need to take the same step that GM has: announce that they’ve done a poor job of providing what consumers need, apologize for their mistakes, and beg for government help. As much as those organizations have sucked up to government in recent years, instead of investigating official misconduct (so what’s Judith Miller up to, nowadays?), perhaps they’d even get the bailout.