Despite its success, the Ledger has been losing as much as $30 to $40 million a year due to the same pressures that all newspapers face: declining ad sales and subscription revenues. Associate Professor of Journalism at Rutgers-Newark, Rob Snyder, and I discuss how long the Ledger has left.
The Star Ledger, established in 1832, is the 15th largest paper in the country by circulation, delivering a half-a-million papers on any given Sunday. The paper received a Pulitzer in 2005 for its coverage of Governor McGreevy’s resignation.
Despite its success, the Ledger has been losing as much as $30 to $40 million a year due to the same pressures that all newspapers face: declining ad sales and subscription revenues — much of which has been blamed on the emergence of the news sources on the web, delivered both by large media companies (such as CNN) and smaller niche blogs.
In its efforts to transition to the web, the Ledger has launched new initiatives in recent months such as a daily video podcast, a Twitter news stream, and training reporters on the use of video. While the Ledger Live has been a really enjoyable podcast (this one had a particularly brilliant insight from one guest video blogger), it’s been difficult to tell whether these efforts will have a measurable boost to the Ledger’s bottom line.
In response to the paper’s troubles, Debbie Galant, blogger at BaristaNet (shown gazing over her glasses below), sniffs, “Good luck, Star Ledger. I really do hope that you stay around because I like linking to your stories.”
Today, the paper faces an October 8 deadline to renegotiate with its unions and lower costs or face a potential closure or buyout come January. To discuss the implications of a closure of Newark’s only paper, I chatted with Rob Snyder, who is an Associate Professor of Journalism and American Studies at Rutgers Newark and Editor of the Newark Metro.
The interview is about 26 minutes. Press the play button below to listen.
On the podcast, we discussed:
- What’s the national context for the Ledger’s potential closure? Is it common for local papers to close?
- What pressures are there on the newspapers now to bring about this potential sale or closure?
- What role have newspapers like the Ledger played in American society? Do we know what the implications might be of losing the paper?
- It seems that the business models for papers and the web are very similar — both delivering content supported by advertisers. Why can’t many of these papers flip to an online model?
- What models of delivering news do you see gaining traction in the next 3 years?
- Bonus! Given your experience in the city and teaching at Rutgers, where do you see the city in 5 years?
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