Here's an interesting comment about Dan Fagan's musings yesterday about the difficulties in the newspaper business:
Radio, Another "Old Media," Also Struggling: Why No Stories Here?
Submitted by Shooty on Thu, 02/05/2009 - 8:17pm.
(Dan Fagan’s) fixation on the declining newspaper industry is curious, since it's happening in radio too.
Here's an example. The company that pays Dan Fagan to interrupt commercials on KFQD for a few minutes each afternoon is called Morris Communications. On February 1, just four days ago, Morris' publishing arm defaulted on $9.7 million in public bonds, according to the Radio Business Report.
As a result, Standard and Poors cut the credit rating of publishing arm of the company that pays this website's owner to interrupt commercials on KFQD for a few minutes each afternoon to a "D." That's not good.
Here's another example. In December, Radio & Records reported that nationwide radio revenue would plunge 10% in 2009. That would make 2009 the worst year for the radio industry since 1954.
Yet there have yet to be any stories on this website about how radio companies, such as Morris Communications, which owns 33 stations including 6 radio stations in Anchorage alone, are struggling.
I have a theory about why (Fagan’s website) remains fixated on the newspaper industry's current struggles but ignores the radio industry's current struggles.