This post was published in the Wilson Times Nov. 23,
2019.
If you like a good newspaper
to linger over on a Saturday morning breakfast table, you might have to
rearrange your table soon. McClatchy, which owns the Raleigh News &
Observer, the Charlotte Observer, the Durham Morning Herald, and a total of 29
daily newspapers in 14 states, has announced it will stop publishing a Saturday
print edition in the next few months.
For lovers of ink-on-paper
news delivered to your door, this is the topper to a quarter-century trend of
newspapers abandoning daily printed papers and putting profit-and-loss
spreadsheets ahead of newspapers’ solemn duty to inform the public by reporting
the news without bias or prejudgment. (Wilson readers are blessed to have a
local daily that is not owned by a giant corporation that sees newspapers not
as a solemn duty but as a potential profit stream.)
McClatchy Corporation has
financial reason to drop days of publication, cut employment and trim
investment in news reporting. On Oct. 8, the company reported a drop in stock
price from $2.73 at close to 49 cents a week later.
McClatchy has been a train
wreck for a long time. McClatchy, publisher of the Sacramento Bee since 1906, bought
Knight Ridder, publisher of some of the most respected newspapers in the United
States, including the Miami Herald and the aforementioned N.C. dailies. In
March 2006, McClatchy paid $4.5 billion for Knight Ridder, which was known as
one of the best newspaper chains, one that saw journalistic principles as an
obligation. You’d be hard pressed to find a journalist on McClatchy’s corporate
board.
Another worrisome newspaper
development last week was the merger of Gannett with Gatehouse Media. Gannett,
best known for USA Today, will be part of a conglomerate owning 250 newspapers.
This degree of consolidation in news media once would have brought out
anti-trust concerns, but now it’s just a routine business transaction.
On the cusp of the Great
Recession, McClatchy overpaid for Knight Ridder and is still burdened with debt
from that transaction. The once-powerful and profitable properties bought from
Knight Ridder became unsellable in the depressed market and its sharp drop in
newspaper advertising. The corporate office ordered layoffs and job
consolidation to cut costs.
Just as in other newspapers,
news employees were jettisoned to save money, making the newspapers less
valuable to investors and readers as news coverage shrank. McClatchy
consolidated jobs, such as publisher, which used to be a local position, a
spokesman and business leader for each newspaper. McClatchy has already
consolidated publisher and editorial positions in its North and South Carolina
properties. Even these cuts and veering from traditional staffing were not
enough to cover the rising debt.
So McClatchy has made the
decision to “transition to digital,” meaning eliminating more costly print
editions altogether. A number of major newspapers across the country have cut
back on publication days. Dropping the Saturday print edition is a less drastic
cut than some papers have taken. But the cuts are not over. It is apparent to
my household, subscribers to the N&O for nearly 40 years, that print
subscribers are expendable. When we went to renew our subscription, we found
the three-month subscription cost about quadruple what an annual subscription
cost a few years ago.
When I called to object to
the price jump, I was expertly steered to a part-digital subscription. I now
get the print edition Friday, Saturday and Sunday and have digital access all
seven days. This hybrid plan for one year costs what print-only costs for three
months.
The crisis in the newspaper
business goes far beyond the “forget print” perspective at the N&O.
Newspapers around the country are folding, leaving residents with no neutral
resource about local government, crime, nonprofits, churches, jobs, industries,
elections. The crisis in the loss of newspaper advertising is also a crisis in
American traditions of vigorous public debate, informed voters and access to
the ballot.
We are losing more than a
day of print publication.