December 8th, 2008 
joel Strong opinion from our poll last week which asked if local personalities on the radio were always better than a syndicated show, or did it really matter. Two thirds of the respondents said absolutely yes, local is always better than syndicated or national.
Since our country is having “bailout fever” I thought I’d ask the question whether a bailout is in order for the major mainstream media, specifically the newspaper industry. Just this morning it is being reported that the Tribune Co., publisher of the Chicago Tribune and LA Times is considering chapter 11 bankruptcy protection. I’m wondering if in this time of tight business credit and an incomplete transition from traditional media revenue streams to the new media online streams if a bridge loan is in order to help in the retooling of our newspapers. Newspapers and their deep staffs of informed, specialized reporters have a unique position in our culture that no other media has been able to match so far.
So I’m asking the question.
Should the government provide a loan bailout to major city newspapers?
- No, newspapers are no more valuable than any other media and we should let the market determine which media companies survive or not. (88%, 35 Votes)
- I don’t have an opinion either way. (10%, 4 Votes)
- Yes, newspapers have a vital role in our democracy and we can’t afford to lose them during this transition to online media. (2%, 1 Votes)
Total Voters: 40
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The danger of having givernment sponsored newspapers should be readily apparent.
The fourth estate has a unique position in independently watching all other aspects of government and reporting factually to the citizens.
Bailouts give government control.
Not at first.
The original bailout that was anathema to the citizens had little oversight. It was for housing bubble folks. They took the money and ran, and gave themselves hefty bonuses anew.
More bailouts ensued.
Now, it became a question of “how do you stop an avalanche?” Where do you draw the line?
Government replied that new bailout will have oversight.
The auto industry is learning that the price of their existence via bailout is management loss of control, less bonus at the top, and government with stock ownership.
Amazingly, we did not apply this standard to the $130 billion GE received. I wonder why.
But back to media, were they to obtain a bailout, along the lines of the auto industry, not free and clear like the banks and GE, government would hold sway over what is printed. We would all be reading Pravda and growing potatoes for the state.
There is no magic formula to bail out for our country.
No party has a monopoly on ideas.
Nor does any think tank.
But newspapers could join in force with a plea to the populace on ideas for recovery from everyone.
No idea is too large or too small.
We need to fix our country brick-by-brick from the ground up.
Newspapers should be leading that discussion.
It could have helped.
I suspect the window of opportunity is closed for the newspapers, (likely TV and Radio too) as new media takes over.
And that is nothing to be feared; just embraced.
I have a collection of 33-1/3 albums.
I have some 45′s and cassettes.
I have reel-to-reel tapes and 8 track cartridges.
I have CD’s too.
Digitally, they are all history, as are VCR’s and their tapes for video.
I do not Tweet with Twitter, but I am fast deciding, I better learn how if I want to be a part of tomorrow.
The era of the newspaper is over.
A bailout would make them all an extension of government. None of us really want that.
I think local media and media in general needs to shrink some. There are so many outlets stretching revenue which seems to result in mediocre offerings.