Kinda Says it All

Glenn Reynolds of Instapundit has another gathering of Dodo’s in the pulp media. Take particular note of Newsweek. They had a 73% slide in profits YTD. –

MORE MEDIA RETRENCHMENT: Gannett will cut 10%. Time, Inc, announces job cuts and major restructuring. And Newsweek is hemorrhaging revenue: “Newsweek net income results for the first half of the year went from $133.2 million in 2007 to $36.5 million, which isn’t so much a ‘moderately weakened’ business, so much as a ‘holy sh*t, time to fire everyone’ business.” Reader Michael Albrecht emails: “Wow! It’s like people don’t want the product anymore. Or, more likely, people are not buying what they are selling.”

Yeah, I really think this is why they’ve been so willing to squander their remaining credibility in support of Obama. They figure they won’t be around to swing an election in four years, so it’s now or never. Of course, by doing so they accelerate the trend.

[emphasis mine]

The question that is left is of the blogs where is the capitalization going to come from as well as the ad revenue streams to take over the reporting functions. The Pols would love a black hole of no inquiry around what they do.

Linky.