Knight Ridder Inc., the second largest newspaper conglomerate in the U.S., is under intense pressure from its more powerful investors to start selling off papers. The New York Times reports that the company is now contemplating “strategic alternatives.” Consider the following in terms of what Bob is saying one post down about time. With the rise of the 24-hour news cycle and the internet, news is adopting a different time signature.
It is unclear who may want to buy Knight Ridder. Newspaper companies, though still immensely profitable, have a murky future that is clouded by a shrinking readership and weak advertising revenue, both of which are being leeched away by the Internet.
…In the six moths that ended in September, newspaper circulation nationally fell 2.6 percent daily and 3.1 percent on Sundays, the biggest decline in any comparable period since 1991, according to the Audit Bureau of Circulations. All in all, 45.2 million people subscribed to 1,457 reporting papers, down from a peak of 63.3 million people and 1,688 newspapers in 1984.
By comparison, 47 million people visited newspaper Web sites, about a third of United States Internet users, according to the circulation bureau.
The time it takes to read the newspaper in print — a massive quilt, chopped up and parceled (I believe Gary Frost said something about this) — you might say it leads to a different sort of understanding of the world around you. It seems to me that the newspapers that will last longest in print are the Sunday editions, aimed at a leisurely audience, taking stock of the week that has just ended and preparing for the one about to commence. On Sundays, the world spreads out before you in print, and perhaps you make a point of taking some time away from the computer (at least, this might be the case for hybrid monkeys like me who are more or less at home with both print and digital). The briskness of discourse on the web and in popular culture does not afford the time to engage with big ideas. Bob talks, not without irony, about “tithing to the church of big ideas.” Set aside the time to engage with world-changing ideas, willfully turn away from the screen.
The persistence of the Sunday print edition, if it comes to pass, might in some way reflect this kind of tithing, this intentional slowing down.
Over the next few weeks, shoppers at Borders and Barnes and Noble will get a first look at a new form of audiobook, one that seems halfway between an ipod and those greeting cards that play a tune when opened. Playaways are digitized audio books that come embedded in their own playing device; they sell, for the most part, for only slightly more than audio books on cassette or CD. Each Playaway is also wrapped in a replica of the book jacket of the original printed volume: the idea is that users are supposed to walk around with these deck-of-card-sized players dangling around their necks advertising exactly what it is they’re listening to (If you’re the type who always tries to sneak a glance at the book jacket of the person who’s sitting next to you on the bus or subway, the Playaway will make your life much easier). Findaway has about 40 titles ready for release, including Khaled Hosseini’s Kite Runner, Doris Kearns Goodwin’s American Colossus: The Political Genius of Abraham Lincoln, and language training in French, German, Spanish and Italian.