"My summary of the way some of the established media has responded to the Internet is this: It's not newspapers that might become obsolete. It's some of the editors, reporters, and proprietors who are forgetting a newspaper's most precious asset: the bond with its readers," said Murdoch, the chairman and chief executive of News Corp. - James
"The figure used in the past for the death of newspapers always placed the death at around 10-20 years. Given the slide into oblivion even the United State’s largest newspapers are now experiencing, I’ll give it 6 years to 2015, but with half gone by the end of 2010, and a significant number folding (10-20%) in 2009. Newspapers were a great party lasting hundreds of years, but the party is over and the end is nigh." - James
"So, 50 newspaper CEOs, is there more to the story of what went on behind those closed doors? Because from outside, it’s not looking promising that you’re going to lead a reversal to the slide down that nasty-looking graph. If all that was accomplished at the Crisis Summit was to get everyone to accept that the problem really is big and agree to tackle the how in 6 months, that’s clearly not enough." - James
"Trinity Mirror yesterday said it would make 25 per cent more cost savings this year as advertising revenues dropped again. Online growth, the sole source of solace for the press, fell almost two-thirds in the past quarter, said Trinity Mirror, whose chief executive is Sly Bailey." - James
"Johnston Press, publisher of The Scotsman and the Yorkshire Post, conceded that it was at risk of breaching its lending covenants next year if the already weak economy deteriorated further." - James
"It makes you wonder whether Jarvis has actually done any, you know, reporting," Rosenbaum asks, lamenting his "contempt for the beautiful losers who actually made journalism an honorable profession." - James
In an elaborate hoax, pranksters distributed thousands of free copies of a spoof edition of The New York Times on Wednesday morning at busy subway stations around the city, including Grand Central Terminal, Washington and Union Squares, the 14th and 23rd Street stations along Eighth Avenue, and Pacific Street in Brooklyn, among others. - James
Demand for Wednesday newspapers heralding the Obama win was so high that many papers ran an extra run yesterday, and predictably, a thriving market in the collectibles has emerged on eBay. - James
