The Unmaking of the Media
In yet another typical American case, newspaper publisher McClatchy Co. has announced its decision to sell its largest newspaper the ‘Star Tribune’ of Minnesota, to private equity firm Avista Capital Partners for $ 530 million. Justifying the decision, McClatchy’s Chief Executive Gary Pruitt has said that “‘I’m sure it will be surprising to many people, but we regard it as consistent with our disciplined, clear-eyed and strategic decision-making that we’ve applied always.” The company has said that the sale will allow it to explore other ‘new opportunities in the newspaper industry’. What these opportunities could be form the subject matter of an elaborate business model analysis. But, Pruitt is not wrong when he says that the decision is clear-eyed and strategic. In other words, it is just another clear – eyed strategy in the process of the unmaking of the media, not just in America but across the world.
This process of unmaking can be given a fitting title, like the many ‘isms’ and neologies analysts are so fond of using. This is the ‘Murdochisation’ of the media (no prizes for guessing the inspiration behind the term). Mr. Murdoch said once “"Can we change the world? No, but hell, we can all try.” Yes, sure we can, Mr. Murdoch. And, we sure will. When New York Times and the International Herald Tribune face tougher times, we sure will. There isn’t much more to write about it – its an unmaking after all. And, its going to make all of us, including Mr. Murdoch, a little bit wise.
In yet another typical American case, newspaper publisher McClatchy Co. has announced its decision to sell its largest newspaper the ‘Star Tribune’ of Minnesota, to private equity firm Avista Capital Partners for $ 530 million. Justifying the decision, McClatchy’s Chief Executive Gary Pruitt has said that “‘I’m sure it will be surprising to many people, but we regard it as consistent with our disciplined, clear-eyed and strategic decision-making that we’ve applied always.” The company has said that the sale will allow it to explore other ‘new opportunities in the newspaper industry’. What these opportunities could be form the subject matter of an elaborate business model analysis. But, Pruitt is not wrong when he says that the decision is clear-eyed and strategic. In other words, it is just another clear – eyed strategy in the process of the unmaking of the media, not just in America but across the world.
This process of unmaking can be given a fitting title, like the many ‘isms’ and neologies analysts are so fond of using. This is the ‘Murdochisation’ of the media (no prizes for guessing the inspiration behind the term). Mr. Murdoch said once “"Can we change the world? No, but hell, we can all try.” Yes, sure we can, Mr. Murdoch. And, we sure will. When New York Times and the International Herald Tribune face tougher times, we sure will. There isn’t much more to write about it – its an unmaking after all. And, its going to make all of us, including Mr. Murdoch, a little bit wise.
