You’d think I’d be writing about the latest NY Times fiasco over a piece they recently put out on John McCain. I think that will sort itself out, along with his endorsers telling the Times where they can put their endorsement.
For me, this is only one of a long list of problems that the Times and all “old media” companies have in a rapid changing world. I read an article in this months Fortune Magazine called “A Tech Pioneer’s Newspaper Deathwatch” by Josh Quittner. The article refers to Marc Andreessen’s recent blog about him inaugurating a death watch for the Times on his blog.
Among other things Marc spells out the total lack of any “new media” presence on the board of the NY Times and goes through their ever declining financials.
Not exactly the picture you want for the board or the shareholders.
His final point is a good one and one that management at GE would often point to. Get through the defensive spending and spend offensively to grow the business.
How would Marc solve the problems at the Times?
Kill the print product immediately and deliver the base line news online only. Take acute pain now in order to avoid years of chronic pain. Basic rule of thumb….Be on the offense, not the defense.
I couldn’t agree more!