Newspaper closures since 2004 average two a week
The headline, “From CNN to Gannett, Media Industry Laying Off Workers Amid Recession Fears,“ substantiates the end result of delivering skewed news intended to insult conservative consumers. Reporter Andrew Moran describes the industry’s demise. In addition to being a relic business in a technology-based world, leftist propaganda is challenged by facts at media giant FOX News. Bidenflation has negatively affected discretionary spending. Radio and television deliver news free of charge, with numerous networks to choose from. Expecting intelligent people to pay to be insulted is not a winning business model. In Arizona, weekly newspapers are the norm.
In the four paragraphs following “Gannett Slashing Headcount,” there is a partial listing of the newspapers in trouble. It reports, “Gannett, which owns USA Today, The Detroit Free Press, The Indianapolis Star, and dozens of other local media outlets, has seen its share price tank this year. Year to date, the stock has cratered more than 53 percent.” The increasingly extremist, Hillary-endorsing Arizona Republic is in such dire shape continually losing subscriptions, it isn’t even worthy of being listed — described only as one of “dozens.” Gannett stock (GCI) continues to tank. It was trading at $24.70 on Feb. 27, 2014, which was a major tumble from its previous highs. On Monday, GCI closed at $2.61.
According to Poynter, a news media overseer, an updated survey of US newspapers finds 360 more have closed since 2019.
A trader would do better buying chickens to roam the backyard. That investment provides free fertilizer, fresh eggs and a fresher than supermarket Sunday roast with honey glazed drumsticks.