The paper remains, but 27 employees do not as GateHouse, the Bulletin's parent company, decided to close down its manufacturing operation in downtown Norwich. I know one person who worked there since 1971 - basically her whole working life. The paper will now be produced in Auburn, Massachusetts. The Norwich Bulletin has been caught up in the perfect storm that has engulfed the newspaper business. The recession and the loss of classified advertising to websites like Craig's List are just the latest reasons for a massive decline in revenues. Circulation has also taken a hit, as younger readers find their news on the web and local TV stations ramp up their hours of news coverage. There's more to this story. The decline of many newspapers has been hastened by the huge debt incurred by companies snapping up properties with inflated pre-recession pricetags like there was no tomorrow. Some big broadcast corporations engaged in this acquisition spree as well. Well, tomorrow has come. These short-term business strategies have lined a few business people's pockets while a media tradition that may have otherwise survived appears less likely to do so. Have you read a newspaper lately?
Saturday, March 14, 2009
Norwich Bulletin Reflects Changing Times
The paper remains, but 27 employees do not as GateHouse, the Bulletin's parent company, decided to close down its manufacturing operation in downtown Norwich. I know one person who worked there since 1971 - basically her whole working life. The paper will now be produced in Auburn, Massachusetts. The Norwich Bulletin has been caught up in the perfect storm that has engulfed the newspaper business. The recession and the loss of classified advertising to websites like Craig's List are just the latest reasons for a massive decline in revenues. Circulation has also taken a hit, as younger readers find their news on the web and local TV stations ramp up their hours of news coverage. There's more to this story. The decline of many newspapers has been hastened by the huge debt incurred by companies snapping up properties with inflated pre-recession pricetags like there was no tomorrow. Some big broadcast corporations engaged in this acquisition spree as well. Well, tomorrow has come. These short-term business strategies have lined a few business people's pockets while a media tradition that may have otherwise survived appears less likely to do so. Have you read a newspaper lately?
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