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Creditor Slim Expects NYT Print Version To Disappear, etc.

[Note to readers: This post has been updated -- see below.--DW]
Trying to sort through today's pile of industry reports to discern the trend lines is much like having to redesign a cranky website from the bottom up, though layers of spaghetti code. That said, here you have it:

Now, if that is just about as much spaghetti as you can stomach for now, I'll try to draw out a few baseline lessons from all of this industry activity (and trust me, there are many more Media biz headlines I could have thrown into this mix):
  1. You've got to be a billionaire with billions to gamble in order to buy a newspaper or magazine. One of the other suitors for The Times, for example, has been Hollywood billionaire David Geffen. He reportedly wanted to take the company private and then turn it over to a non-profit organization to run. Maybe the League of Women Voters?
  2. Nobody with any business insight continues to hold to the fantasy that The New York Times Co. is not in very serious financial trouble.
  3. The same markets and investors who are circling around old media properties, seeking possible bargains, see clearly that social media like Twitter and Facebook are much more than simply the latest and greatest but ultimately passing fad. In its decision regarding The Times referenced above, Morningstar had this salient observation: "We think structural changes in the media environment, including an incipient generational shift in media consumption habits, have eroded the Times' economic moat."
  4. When you make a mistake on your blog, correct it as fast and with as much transparency as possible!
It's sea-change time, folks. Hold on, this ride's gonna get bumpy.
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