Look no further than today's news for evidence that the print news business is in jeopardy.
Newspaper ad sales fell 14 percent in the first-quarter -- the steepest fall on record, according to a Bloomberg report. Part of the problem is that advertisers have cut their ad budgets and are advertising on their own web sites, says Bloomberg.
(Incidentally, the Newspaper Association of America, which distributes the quarterly report, told Reuters it will no longer send the data out to the press, but swears it's not because the numbers are bad.)
In somewhat related news: McClatchy, publisher of the Miami Herald and the Sacramento Bee, among other papers, said it will cut 1,400 jobs, or 10 percent of its workforce, citing "today's more competitive media environment" and needing to move "more aggressively" to reduce its work force.
Photo: Flickr/public.resource.org
