Friday, November 15, 2019
Kansas City Star Cutbacks: Cowtown Ready For Life Without The Daily Newspaper?!?!
Strident readers and critics might argue that we've been without a daily newspaper for the past 12 years.
Meanwhile, it's getting harder for supporters of dead-tree media to deny the fate of the publication.
Check this chart for an illustrative look:
One of the best TKC readers who keeps track of this market news offered his perspective:
It's a story "sold short" . . . TKC readers say: Thanks TKC! Ka-ching!
And the question of the profit motive is really at the crux of the issue.
If/when the newspaper stops functioning as a for-profit endeavor it becomes something else entirely . . . More like just another political pamphlet and NOT a place where the ENTIRE community can engage, learn and debate.
Like it or not, and I don't, social media offers something closer than a mainstream Kansas City public square or forum than the pages of the newspaper.
But I digress . . . Check more deets about the cold hard numbers that mostly serve to prove critics right:
Simply Wall St: Those Who Purchased McClatchy (NYSEMKT:MNI) Shares Five Years Ago Have A 92% Loss To Show For It
Market Watch: Newspaper publisher McClatchy's stock drops after swinging to loss, 'liquidity challenge' warning
The Wrap: McClatchy Seeks Federal Bailout of Pension Fund
And so we suggest that this isn't just a question of newspaper quality but a fundamental shift in the market place in much the same way that CDs are nearly impossible to find and only guys over 40 still collect vinyl records.
Accordingly, after six weeks Kansas City will lose it's biggest "daily" newspaper as dead-tree media transitions into just another website/blog that also prints some of their content as an afterthought.
Developing . . .