09.30.2009 0

Too Hot Not To Note: Don’t Bail Out NewspapersLet Them Die and Get Out of the Way

  • On: 10/02/2009 09:34:35
  • In: Fiscal Responsibility
  • ALG Editor’s Note: In the following featured commentary, Daniel Lyons from Newsweek’s Techonic Shifts explains why newspapers should just “die and get out of the way.”

    Don’t Bail Out Newspapers–Let Them Die and Get Out of the Way

    Daniel Lyons

    Nobody in their right mind believes the future of the news business involves paper and ink rather than pixels on a screen. We all know where the news business is headed, and what’s more, we’ve known it for at least a decade. So why on earth are people talking about a bailout for newspapers? Why is President Obama saying he’d consider it? Why is Congress holding hearings and considering “The Newspaper Revitalization Act” in a bid to save these ailing old rags with tax breaks and other handouts? It’s like introducing legislation to save horse-drawn carriages, or steam engines, or black-and-white TV. It’s stupid. It’s pointless. It won’t work.

    The fact is, all this hysteria has nothing to do with saving the news, or saving jobs. Nor is it about saving democracy, which is what the red-in-the-face newspaper lovers always get themselves huffed about, as if newspapers and democracy were inextricably linked. Democracy existed long before newspapers did, and it will survive without them. And plenty of countries that don’t have democracy do have newspapers. Nor would a bailout help readers. In fact, it would only slow down our shift to the Internet, which is a far better medium for delivering information.

    The only beneficiaries of a bailout would be a handful of big newspaper companies that used to be profitable and powerful and now, well, aren’t. Those companies saw the Internet charging toward them like a freight train, and they just stood there on the tracks. They didn’t adapt. Why? Because for decades these companies enjoyed virtual monopolies, and as often happens to monopolists, they got lazy. They invested their resources in protecting their monopolies, using bully tactics to keep new competitors from entering their markets. They dished up an inferior product and failed to believe that anything or anyone could ever take their little gold mines away from them.

    Continue reading here.


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