Filed under Things That Make Me Swear:
Advance Publications, owned by the Newhouse family, said Thursday it would scale back the printed edition [of The Times-Picayune, a 175-year-old fixture in New Orleans] to three days a week and impose staff cuts as a way to reduce costs…. The decision will leave New Orleans as the most prominent American city without a newspaper that is printed every day. via
Donald Newhouse is the 51st-richest person in the United States, Forbes reports. The magazine places the Advance Publications chief’s net worth at $6.6 billion. His brother, Conde Nast Chairman Si Newhouse, Jr., places a little higher: No. 46, with a net worth of $7.4 billion. Donald’s net worth was $5.9 billion in Sept. 2011, Forbes estimates, and Si’s was $6.6 billion. via
The media is clearly not exempt from the tyranny of the 1 percent. Just how many billions are enough for the people who run the media? At the very real cost of important coverage of issues that matter to us ordinary have-nots? It’s indecent and shameful.