Gary North wrote a piece on recent losses of NY Times. He felt that online media is giving print media a difficult competition, and NY Times may have to shut doors. I am a little less certain that it could happen soon, seeing the popularity of three public intellectual giants that are David Brooks, Maureen Dowd, and Paul Krugman.
However, Huffington Post recently announced profits north of $100 million and its market share may keep growing. I have rarely, if ever, visited HuffPo, but it has a tabloid style that appeals to a group with a lower IQ than those who read New York Times. That’s not to say that a Progressive Era style populist muckraking newspaper like NYT is particularly intelligent, but in comparison to HuffPo, it’s an elite paper. So I imagine HuffPo will continue to do well.
And that’s another interesting thing. Around here, the Times of India, established in 1826, was once the most serious and straightforward newspaper known. No hyperbole, no sensationalising, no deeming of alleged murders to be guilty until proven innocent. Post mid 2000s, its quality started dropping dramatically, but its circulation started rising just as quickly. Now, it’s only a little better than a tabloid.
I guess the internet meant that serious newsreaders can stick to their own niche areas.