[Bill,
October 26, 2008]
Wow -- Star Ledger buys out 40% of editorial staff
If the Star-Ledger is in trouble financially, then things are very bleak indeed in the newspaper industry. The Star-Ledger has virtually no newspaper competition in some of the richest, densest-populated and business-packed counties in the nation -- it has every advantage you could imagine.
But in the struggle between new media and old media, well, we have an extremely disruptive situation. Worse, most newspapers, eager (and a little desperate) to get in on new media, gave away their product for free on the Internet. It was short-sighted and allowed bloggers to gain a foothold by doing all the heavy lifting -- that is, reporting -- for them. Now the piper's being paid. And the cost is high.
But in the struggle between new media and old media, well, we have an extremely disruptive situation. Worse, most newspapers, eager (and a little desperate) to get in on new media, gave away their product for free on the Internet. It was short-sighted and allowed bloggers to gain a foothold by doing all the heavy lifting -- that is, reporting -- for them. Now the piper's being paid. And the cost is high.