Saturday, June 06, 2009

Canwest

Still on life support. The Aspers will soon be out, since the only real option to bondholders is to convert their debt to equity, hire some professional managers and hope to find a buyer. That's a fancy way of saying foreclosure.
Meanwhile, the bloodletting in media seems to have abated, with no new major layoffs. No one's been hired, either, but at least those people who do have jobs should not be as worried as they were last winter. Final figures for fiscal 2008 should be out soon, and I bet they'll be interesting.
Meanwhile, I've heard a few other people muttering on various radio programs that newspapers ought to shut down their web pages and stop giving their content away. I've held that opinion for a few years now. And I've noticed a certain plateau in the news side of the Internet: no new major bloggers, fewer updates on news aggregator pages, fewer posts to discussion boards. All the while, the social networking and Internet broadcasting side of the Internet is booming.
Now, how long will that wave last? Here's something to remember: Facebook has never made a dime and is nowhere close to doing so. Yet the company is supposedly "worth" between $3 billion and $5 billion.

3 comments:

bigcitylib said...

Don't know if you count Quebecor stuff as real newspapers, but this site:

http://torontosunfamily.blogspot.com/

...does a good job following what's going on their. I'm not sure that I've seen much sign of "abatement" there. The TO Sun building on King MAY have been sold off, although I haven't been able to confirm that yet.

Anonymous said...

ESPN magazine has ended much of its free content as of last Friday. Got to pay for $6.95 per month or so if you aren't a magazine subscriber.

http://www.reuters.com/article/paidmediaAtoms/idUS281006670920090608

Ottawa Watch said...

USA Today's about to do the same thing.
It really is the only answer.