Wash Times:The "death of newspapers" has drawn powerful political interest.
Troubled by the possible shuttering of his hometown paper, Sen. John Kerry reached out to the Boston Globe on Tuesday, then called for Senate hearings to address the woes of the nation's print media.
"To the Boston Globe family," the Massachusetts Democrat wrote to employees of the 132-year-old publication, which faces closure unless it can come up with $20 million in union concessions to parent company the New York Times by May 1. The Globe is losing $1 million a week.
"America's newspapers are struggling to survive, and while there will be serious consequences in terms of the lives and financial security of the employees involved, including hundreds at the Globe, there will also be serious consequences for our democracy where diversity of opinion and strong debate are paramount," Mr. Kerry said.
Also on line today, the NYT is $1.3 billion in debt with $34 million in the bank and a 27% decline in advertising $$.
Thank you, Ellsworth Toohey, and Wesley Mouch
1 comment:
Perhaps the concerned Kerry-Heinz empire would care to 'invest' in this valuable resource . . . their investment certainly wouldn't make much difference to the NYT's content. But then again, is the Kerry-Heinz empire willing to risk THEIR fortune on such a demonstably losing venture? If not - then why should the average taxpayer venture to invest in such a losing proposition?
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