Staffers at the SJ Mercury News breathed a sigh of relief as well-thought-of McClatchy snatched it up with a bunch of others in the Knight-Ridder stable.
The Sacramento, Calif.-based company boasts on its Web site that "quality journalism is the bedrock of a successful newspaper business." As such, the company is a favorite both among the journalism community and on Wall Street.
Until they found out their profit margins just weren't up to the standards of their new employer.
McClatchy said Monday it would sell the Mercury News, the Contra Costa Times and The Monterey County Herald, along with nine other Knight-Ridder publications, because the markets aren't growing fast enough.
It sucks being in print journalism right now. While we don't have a newspaper out here that compares to the WaPost or the NYTimes or the LATimes, the Mercury is as good as it gets in this neck of the woods.
1 comment:
Advertisers get to choose between spending their money on online ads and the print ones. I suspect the online appeal is not quite so high in Naples as San Jose, too. However, I also think that real estate is going to be one of those areas hugely impacted by the online world, in effect putting realtors as we know them out of business. There was an interesting article you might be able to see here (of course, in the Murky News). There are new services like http://www.zillow.com that make it awfully easy to do comparison shopping and pricing, and these are going to fuel advertising revenue online and take it away from print.
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