‘How Wall Street Helped to Plunder the Newspaper Industry’ – An Interview with James O’Shea

An interview with James O’Shea: https://i2.wp.com/leftwingconspiracy.com/wp-content/uploads/2009/03/motivator6668085.jpg Former newspaper editor James O’Shea talks about the Wall Street deals that he believes helped bring down the great American newspaper. Continue reading: http://marketplace.publicradio.org/display/web/2011/07/25/am-how-wall-street-helped-to-plunder-the-newspaper-industry/?refid=0

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One response to “‘How Wall Street Helped to Plunder the Newspaper Industry’ – An Interview with James O’Shea

  1. Reason

    I guess I find this interview, well, ironic. I find especially ironic, where O’Shea complains about online advertising stealing their revenues. Here is an article that talks about the Gannett, Tribune and McClatchy corporation forming partnerships to sell online advertising:

    http://paidcontent.org/article/gannett-tribune-and-mcclatchy-to-jointly-sell-online-ads-across-properties/

    The Gannett, Tribune and McClatchy corporation, are owners of Topix.com. Topix is the largest internet forums connected to newspapers in the country. The Tribune has sat back and ignored the copious complaints about Topix’s mosh pit forums, the company has NO terms of service, anything and everything goes, defamation is rampant on them. Not only that, Chris Tolles, the CEO, is openly disparaging about newspapers and especially, journalism. From a recent interview:

    Question: “Does it make sense to spend money on professional journalists to create hyperlocal content?”
    Chris Tolles: “Well, we’re definitely pegging the needle on the other side of that. We’re basically saying that we’re going to spend nothing. Like, zero.”

    “As a Silicon Valley person, journalism is just writing copy. Journalism isn’t a profession. Journalism is, in fact, merely the pretentious part of the ad copywriter role in some ways.”

    “Journalism isn’t a profession, it’s a religion.”

    http://streetfightmag.com/2011/04/18/tech-qa-with-topix-ceo-chis-tolles/

    He also announces his vision of providing local content, as local newspapers disappear:

    Chris Tolles: “But what you do find out is that people really love the local content. So, what we did is we gave people the ability to comment on the existing content and then turned those comments, aggregated those to the forums and gave people the ability to write original stories or essentially start their own threads in the commentary.”

    For O’Shea to complain about Wall Street plundering the newspaper industry, is hypocritical. His own company does that very well, by its illogical support of Topix, a parasite that is devouring its host. Or maybe he is right, that they forced them to make bad decisions.

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