Dan Schwarz, a professor of English at Cornell University, author of “Endtimes: Crises and Turmoil at the New York Times, 1999-2009” and a regular blogger on the media for the Huffington Post, comments on Gannett’s offer to buy Tribune Publishing for $815 million. Tribune currently owns the Los Angeles Times, the Chicago Tribune and nine other dailies.Bio: http://english.arts.cornell.edu/people/?id=84Schwarz says:“What this offer indicates is that Gannett believes in print media, particularly in its mix of local and national news - Gannett does not invest much in international news. Online advertising has not compensated for lost print advertising, in large part because if one sees an ad online on the New York Times or Gannett site - say for Marriott hotels - one may simply go to the company site without even clicking on the media site. To a far greater extent, print ads stand alone.
“How can Gannet profit when the Tribune cannot? The Gannett’s business model focuses on a mix of local and national news; this enables Gannett to combine local and national advertising in each newspaper, except for its national flagship, USA Today.
“Another Gannett advantage: With its 3,800 reporters, Gannett does not need to add greatly to that number from the Tribune’s staff. I am sure Gannett will retain stars and capable production and editorial people. Eventually, the Gannett with the addition of the Tribune staff will be quite a bit smaller than the total of both now, with resultant financial savings.”
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