This morning New Yorker writer Ken Auletta asked Internet 1.0 billionaire Mark Cuban at an Advertising Week talk what advice he had for newspaper owners. “Give up!” Cuban declared. Cue nervous laughter.
He went on:
Bankruptcy is probably your best friend because you get to recapitalize and start all over again. It’s not that people don’t or won’t read newspapers, it’s just they won’t in the numbers they have in the past.
The only way to get rid of the deadwood and the legacy financial aspect of it is through bankruptcy.
Different take, same result from the SAI archives: Running The Numbers: Why Newspapers Are Screwed
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