Back in April of 2009, only a couple of months after Mr. Obama took office, Megan McArdle, then with Atlantic magazine, wrote:
Conde laid off Julian Sanchez yesterday amid more cuts in its digital properties. Conde is in an especially bad place with the web: their core competency is selling beautiful, glossy ad pages that readers enjoy looking at. This does not translate well to a digital format, and it’s hard to make your company over overnight.
A bunch of my journalist friends and I have decided that our new toast is “to 2010″. 2009 has so far been pretty disappointing for almost everyone I know, not to mention the country for which we all have great affection.
One year later, in April of 2010, Newsweek told the nation that America’s Back! Time to Barack and roll all night and party every day!
I thought everything was green grass and high tides forever after that. (Well, other than Obama’s ocean reset.) Recovery Summer, the Obama economy is in full steam, Happy Days Are Here Again! (To borrow from the refrain of another “Progressive” president who carried with him his own perma-Depression.)
You do remember Newsweek, don’t you? The Washington Post began to unload it less than a month after the above cover story ran, and it died as a print magazine less than two months after the 2012 election. And it might have company. Or as John Nolte writes at Big Journalism today, “Obama Economy Hits Media: NYT, Time Announce Major Layoffs”:
It’s not your business model that sucks; it’s you that sucks. — Andrew Breitbart
As many as 700 — almost ten-percent of the overall staff — are on the chopping block at Time Magazine. According to New York Magazine, a whole herd of top-level sacred cows at the New York Times will be given the non-choice of a buyout or a forced layoff within the next few weeks.
And in both cases, it’s due to “rapidly declining advertising revenue.”
Yeah, that’s a shame.
This is what you call going down with the ship. Time and the NYT are Exhibits A and B in the case to expose everything wrong and self-defeating with today’s mainstream media. Rather than do the job honestly (which would undoubtedly improve the customer base), and wake up to the reality that the Internet has removed the monopolistic distribution bottleneck on the flow of information that kept them alive for so long, both publications chose instead to double down when it came to pushing a left-wing agenda.
It was almost as if they knew the end was coming, and this was their last chance.
Indeed — much more after the page break.