Who would want to own an established newspaper right now? Hands up please. Nobody? Thought so.
With the ever decreasing value of news due to the internet newspapers as we all know are in serious trouble and I strongly doubt any of them will make it long-term without making substantial changes to their business models. Rupert Murdoch has taken the most outrageously stupid step of putting a pay wall up on his non-niche newspapers which will be the death of the NY times and his other publication in my opinion. Why? Well, it’s okay if you’re the FT and you need that specialist data and news that’s hard to find in other places, but with normal bog standard publications, the news is everywhere and it’s free. Pay Wall my newspapers here in the UK – I’ll just use the BBC website. Thanks.
To survive they need to change and to do it quickly. They have equity in their brand and they need to leverage that into other areas where people don’t mind paying. The Belfast Telegraph has done it with selling used cars in Northern Ireland or the Guardian has used their brand equity to start a dating website thingy. These newspapers kind of have the right idea and I applaud them, but it needs to be drastic and it needs to be soon. Good luck old timers, it’s going to be a tough ride, most of you won’t make it, but the shrewdest just might.