Remember “Gray Lady Down: Britain’s Daily Mail Web site outpaces New York Times’?” It’s not just whatever the Mail is doing to steal the readers. If thatr’s all it were, lots of Yank outfits must be doing that too. So there’s gotta be more to the story.
Well, Associated Press reports
The New York Times Co. said Thursday that net income fell 12 percent in the last three months of 2011, though excluding one-time items the results exceeded Wall Street expectations.
The company earned $58.9 million, or 39 cents per share, compared with $67.1 million, or 44 cents, a year earlier.
Actually, they’ve been losing money for years, the way most of the legacy mainstream media have.
It’s not that old legacy media can’t compete on the Internet – when they even try, they tend to show modest gains, as the Times did.
But they have few special advantages here that couldn’t be quickly eroded. And it is going to take them a long time to get that straight.
Put another way, decreasing numbers of people believe something because they “saw it in the Times.” Why should they? A good search string should yield several dozen sources, with varying perspectives. In these times, one can hardly manage without it.
Read Uncommon Descent. The majestic forests of Canada thank you.
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