Friday, January 02, 2009

Time for another bail-out?

The idea that the newspaper industry is in terminal decline, and that the glaciers have arrived is one that has really gained currency in recent months. Here's another version.

Via Tom Watson (this time on twitter), in the UK it seems that our newspapers are particularly distrusted. Given that the BBC enjoys a greater degree of trust than comparable news organisations despite a concerted and cynical campaign by self-serving sections of the print media (though there are problems with the way it conducts itself).

It's a cheap opportunistic point, but one that needs making. This is a huge opportunity for the model of public service broadcasting. Given that we've spend £squillions bailing out institutions that are, on the one hand, undeserving, but on the other, posing a systemic risk, surely a fraction of that money could be spend bailing out public service news standards?

A disappearance of professional journalism would - in many ways - pose a comparable systemic risk, don't you think?


Anton Vowl said...

The news industry is still making profits, just not as vast as they once were, hence the axing of hundreds of jobs.

Paulie said...

That may be true Anton. But it's never been less interested in reporting news.