Media Gets Cancelled
Segment # 335
Ratings and subscriptions for television and newspaper media have and will continue to drop precipitously. Streaming and digital media are providing alternatives that are giving consumers are choice for where they get their information. The left is losing ground on hard news which has proven to be less than reliable in the past four years. The only hope for online left leaning media is coupling with entertainment, culture, and human interest . This trend will certainly continue through the Trump information. I am not alone in choosing to dump media that is provably lying to me. Personally I reject the Dallas Morning News. New York Times, and the Wall Street Journal that have no choice to cater to their corporate and government sponsors. Too bad its not all bad; however, there are so many alternatives that are available now and will be even more prevalent in the future
The Wall Street Journal (WSJ) has faced significant criticism and controversy over its recent layoffs despite reporting strong financial performance and growth in digital subscriptions. Here are the key developments:
Layoffs Amid Record Profits: The WSJ has conducted multiple rounds of layoffs, including reductions in Washington and international bureaus, despite achieving record profits and a milestone of 5 million paying digital subscribers. These cuts have sparked protests from the newsroom union, which criticized the lack of transparency and direction behind these decisions1.
Shift in Editorial Focus: Editor-in-Chief Emma Tucker has emphasized a reorganization aimed at prioritizing digital growth and high-quality journalism while moving away from regional and local general news. However, employees have expressed concerns about the uncertainty surrounding this strategy1.
Union Discontent: The newsroom union staged a walkout to protest the layoffs, particularly those affecting journalists covering national and breaking news. The union also continues to negotiate over pay raises and protections related to artificial intelligence use1.
While there is no direct evidence linking subscription cancellations to these layoffs, WSJ's subscription practices have previously been criticized for being cumbersome, potentially alienating customers
Source: NPR, Reddit, WSJ
The Dallas Morning News has been facing significant challenges in recent years, with declining subscriptions and multiple rounds of layoffs.
Circulation and Revenue Decline
Print circulation for The Dallas Morning News declined by 4.8% in the fourth quarter of 20231. The total number of subscribers fell from 145,369 in the first quarter of 2023 to 142,436 by June 30, 20231. This decline in readership has led to financial struggles for the newspaper.
Cost-Cutting Measures
To address these challenges, The Dallas Morning News has implemented several cost-cutting measures:
In May 2024, the company announced plans to move its printing operations from a 620,000 sq ft facility in Plano to a smaller 67,000 sq ft location in Carrollton2.
This move is expected to result in a 60% reduction in staff, affecting about 85 workers2.
The company is suspending shareholder dividends until further notice2.
Previous Layoffs and Buyouts
The newspaper has a history of reducing its workforce:
In July 2022, 43 employees were laid off, including about 20 newsroom staff3.
In September 2023, the company offered buyouts that could eliminate up to 40 jobs, representing a 6% reduction in headcount4.
Another round of layoffs occurred in January 2019, affecting 43 employees6.
Financial Performance
DallasNews Corporation, the parent company of The Dallas Morning News, has been struggling financially:
The company has not had a profitable quarter since Q4 of 20214.
In its most recent quarter, it reported a net loss of $0.9 million4.
The company's stock price was around $4.50 as of August 20247.
These ongoing challenges reflect the broader difficulties faced by the newspaper industry as it adapts to the digital age and changing reader habits.
