April 3, 2008
Medium term, they’re deader than a buggy whip factory, but they’ve still got the most valuable asset in the media business – credibility. That’s what Rupert Murdock was thinking when he bought the Wall Street Journal, he was buying the brand. The Journal is an uber-example, but a the same principle holds true at the community level. The theoretical hybrid writing/video web-based news sources of the future would smart to buy today’s newspaper brands once the market finishes slowly crushing them into dust. Or existing newspapers could just evolve that way themselves and kill off local tv news, but I’m not holding my breath.