What's next for local journalism?
On the Journal Register Co. corporate Web site, there are slides from a presentation that the company made two years ago a financial meeting. One slide, on page 29, is titled "Proven Ability to Delever." The typo says it all about the attention the JRC gives to its editorial products.
The JRC’s stock price has fallen below the cost of a single copy of a newspaper and it now faces delisting from the New York Stock Exchange.
The JRC has hired an investment bank “as an adviser as it weighs restructuring,” reports the New York Times. (For more background see Editor & Publisher; JRC Q4 2007 earnings call transcript from Seeking Alpha; Debt Keeps Journal Register a Hold, Zacks.com via Yahoo Finance.
So that’s it.
The JRC is sinking under its debt and a management approach that emphasized cost-cutting over everything else.
What’s here to save?
Restructuring can lead to anything. If the JRC can get rid of some of its debt, find new investors and corporate management committed to typo-free excellence, then perhaps restructuring may help.
It may also lead to a sell-off of assets, something the JRC is already doing. It sold the Middletown Press building and is reportedly interested in selling The Herald’s downtown building. Perhaps The Herald will be sold as well and become independent again. One can only hope.
Where does this leave The Herald?
If The Herald can find new owners committed to local journalism, then anything is possible.
Why are newspapers important?
Call me old fashion, but I still think the role of reporters and editors is to be watchdogs – to ask difficult questions that help keep government honest.
If The Herald doesn't survive the JRC then what's left for New Britain? What options?
The Courant? Even if The Herald disappears, The Courant isn’t going to add more reporters to try to improve its coverage. It is no longer a locally owned regional newspaper. It’s a JRC in waiting.
The Record Journal in Meriden? This newspaper has fought off the JRC to stay independent. It has proven that independents can survive as long as they keep faith with their communities and turn out a good product. The newspaper surrounds New Britain with weekly newspapers, including The Berlin Citizen and The Plainville Citizen. These are good newspapers and expanding into New Britain is an obvious move.
It's possible that online only operations similar to the New Haven Independent will emerge. The Independent is professionally run publication that appears to be operating on start-up funds supplied by community groups. It's the type of emerging model that could work. The New Britain Community News is embryonic, but has potential to develop into an online focal point for community journalism.
Local blogs. Any person with the inclination can offer news about their street, neighborhood and even the city. It’s the sum total of these little efforts that can help keep government honest and engaged with its citizens. It’s this grassroots model that I think has potential of renewing journalism in New Britain.
The JRC’s stock price has fallen below the cost of a single copy of a newspaper and it now faces delisting from the New York Stock Exchange.
The JRC has hired an investment bank “as an adviser as it weighs restructuring,” reports the New York Times. (For more background see Editor & Publisher; JRC Q4 2007 earnings call transcript from Seeking Alpha; Debt Keeps Journal Register a Hold, Zacks.com via Yahoo Finance.
So that’s it.
The JRC is sinking under its debt and a management approach that emphasized cost-cutting over everything else.
What’s here to save?
Restructuring can lead to anything. If the JRC can get rid of some of its debt, find new investors and corporate management committed to typo-free excellence, then perhaps restructuring may help.
It may also lead to a sell-off of assets, something the JRC is already doing. It sold the Middletown Press building and is reportedly interested in selling The Herald’s downtown building. Perhaps The Herald will be sold as well and become independent again. One can only hope.
Where does this leave The Herald?
If The Herald can find new owners committed to local journalism, then anything is possible.
Why are newspapers important?
Call me old fashion, but I still think the role of reporters and editors is to be watchdogs – to ask difficult questions that help keep government honest.
If The Herald doesn't survive the JRC then what's left for New Britain? What options?
The Courant? Even if The Herald disappears, The Courant isn’t going to add more reporters to try to improve its coverage. It is no longer a locally owned regional newspaper. It’s a JRC in waiting.
The Record Journal in Meriden? This newspaper has fought off the JRC to stay independent. It has proven that independents can survive as long as they keep faith with their communities and turn out a good product. The newspaper surrounds New Britain with weekly newspapers, including The Berlin Citizen and The Plainville Citizen. These are good newspapers and expanding into New Britain is an obvious move.
It's possible that online only operations similar to the New Haven Independent will emerge. The Independent is professionally run publication that appears to be operating on start-up funds supplied by community groups. It's the type of emerging model that could work. The New Britain Community News is embryonic, but has potential to develop into an online focal point for community journalism.
Local blogs. Any person with the inclination can offer news about their street, neighborhood and even the city. It’s the sum total of these little efforts that can help keep government honest and engaged with its citizens. It’s this grassroots model that I think has potential of renewing journalism in New Britain.
Labels: community journalism, New Britain Connecticut, The Journal Register Co. local journalism
posted by kob at
6:40 AM
2 Comments:
Even if The Herald disappears, The Courant isn’t going to add more reporters to try to improve its coverage.
--
Jhon
Wireless Home Alarm Security Systems
Post a Comment
<< Home