Missing the Point with Print Media

Here is a related article to our discussion of the newspaper industry and a fine example of your elected representatives comprehension of the changing world we live in. The AP reports that a senator has suggested making the newspaper industry tax-free in an attempt to help them survive. Other than the obvious fact that taxes are paid on profit, which newspapers are not making, there are additional issues that touch on where newspapers will place themselves within the layers of the industry. One glaring example is how papers continue to focus on their editorial content or will use editorial content as one area in which they will be able to extract value. Non-profit status will greatly limit the types of editorials they can run due to campaign finance regualtions [the non-profit info is down towards the end].
To add one final point, notice where I found the article, Google News. Though this is probably no surprise since the industry's own advocacy association shows 67% of subscribers are over the age of 45, which in my opinion will only increase in the future.
Legislation like this will not help a failing industry.

Murdoch's "State of NewsCorp" Memo

Here is a memo from Rupert Murdoch on how NewsCorp is positioning in the current economy.  Just as we reviewed memos from Bill Gates on the key shifts, this is an interesting memo on how he sees NewsCorp positioning for the future.

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The memo highlights some of the enduring themes that we have discussed over the last few weeks. I have just highlighted a few for your ready reference.

1. The need for internal synergy and cooperation. 

Many of you have told me how hungry you are to work more closely across our companies. Many of us have been frustrated by the things that can get i n the way of that. From systems that don't talk to each other to incentives that struggle to capture the opportunity and aspiration of our total group. These obstacles are obvious to us all. There will be a streamlined management structure between our Los Angeles based business units and the rest of the company. Peter and I will be communicating more on this over the next few months. For the time being, of course, the talented executive team at the Fox Group will continue to report to Peter.
Now is also an ideal opportunity to streamline and enhance many of the corporate and administrative functions of the business. There will be cost savings as a result, but the more important aim is to be leaner so that we can better leverage our collective talent and expertise.

2. We are at an inflection point. 

We are in the midst of a phase of history in which nations will be redefined and their futures fundamentally altered. Many people will be under extreme pressure and many companies mortally wounded. Our competitors will be sorely tempted to take the easy beat, to reduce quality in the search for immediate dividends.
Let me be very clear about our company: where others might step back from their commitment to their viewers, their users, readers and customers -- we will renew ours.
The direction of the business now and over the next few years will define the character of our company for decades.
We have always thrived on change and challenge. This was true when we began building a newspaper business in Australia. Just as it was when we created BSkyB and developed a fourth US network, the Fox Network, when conventional wisdom dictated that there was room for only three players. It was true when we launched Star, now the leading network in India, and the Fox News Network and Sky Italia.

3. Innovate boldly.. often defying conventional wisdom.

The best things we have done, and there are many examples, have defied conventional wisdom, often in the teeth of fierce opposition and near universal disbelief in our capabilities.

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You may find other themes as well.  Enjoy reading but please be sure to share your ideas..It's timely in the context of discussing Facebook and the upconing sessions on media and entertainment.