I know, I know the newspaper business is in the crapper. The pundits on The News Hour last night were ruing the demise of the newspaper. But here’s what I see happening to Samuel Zell and his Tribune properties. I see a smart business wo/man coming along an scarfing up the Chicago Tribune and Los Angeles Times at a major discount. News is new and these two papers are among the best in the business at collecting and reporting it. The new owner(s) will k now that it’s the paper that’s the drain, not the news, and will extend and build up the online side of these properties.
In the not-too-distant future all newspapers will primarily be read online and the paper papers will each cost about $8.00 an issue. As the world flattens further (Is a global language that far away?), news will become more important, not less. We will just be consuming it in different ways. Whoever buys the LA Times and Chicago Trib knows this…and is quite the visionary. Let’s see steps up. Any guesses? Bill Gates?