Future of newspapers needs local support
In the midst of the current financial crisis, we hear story after story about the loss of jobs and Wall Street bailouts. But we are facing another threat that goes largely unnoticed. While banks and the Big Three - General Motors, Ford, and Chrysler - crowd around Congress to gather the remains of our tax money, printed publications are going silently into the night, as newspapers and magazines watch their advertising revenues disappear.It is a trend that started years ago with the invention of online classifieds, which have been siphoning away business from the historical cash-cows of the newspaper world. It has been a slow process, to be sure, but one soundly documented over the last decade. The most recently publicized event demonstrating the fall of the print media giants has to be The New York Times' decision to sell advertising space on its front page for the first time in over 150 years.