Sunday, May 24, 2015 – 05:30 p.m.
The Pew Research Center has issued a not-so-pleasant report on the state of print media in the country.
The findings agree with what InlandPolitics.com has been saying for years now. The value of print newspapers is falling, and falling fast, and advertising revenue, the life blood of newspapers, has fallen some fifty-percent over the past 10 years.
A perfect example is the recent “No Sale” of Digital First Media (DFM).
DFM, the parent of the Los Angeles and Bay Area News Groups, received some interest from hedge fund Apollo Global Management. A sale was actually expected, until DFM took itself off the market.
The company, which also owns The Denver Post and Inland Empire newspapers The Sun, Inland Valley Daily Bulletin and Redlands Daily Facts, thought it would garner about $600 million.
The number was settling in the area of $400 million. A number DFM probably couldn’t stomach.
Apollo was likely looking to breakup the media entity and sell the pieces for more than the whole.
Here’s the pew report: The declining value of U.S. newspapers