US newspapers need to reinvent themselves … fast

US newspapers are in a state “perilously close to free fall” and time is running short for them to find a business model and reinvent themselves, according to a study released on Monday.

by Chris Lefkow
AFP
.

The Pew Research Center?s Project for Excellence in Journalism said its 2009 report on the State of the News Media was the “bleakest” it has issued since it began doing the annual studies six years ago.

The report examined newspapers, online media, network, cable and local television news as well as news magazines, radio and the ethnic press.

As the study was released, Hearst Corp., publisher of the Seattle Post-Intelligencer, announced it was ending the print edition of the money-losing 146-year-old newspaper on Tuesday and going online only.

The Pew report found that US weekly news magazines and daily newspapers are particularly troubled. “The newspaper industry exited a harrowing 2008 and entered 2009 in something perilously close to free fall,” its authors said.

Nevertheless, they said, “we still do not subscribe to the theory that the death of the industry is imminent,” noting that the industry overall “in 2008 remained profitable.”

Read the rest:
http://news.yahoo.com/s/afp/200903
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