I should add ... about the newspapers publishing extra editions at an
expense that will not be recovered -- and it won't ...
If these newspapers had not published extra editions, most readers never
even would have noticed ... so they would not have lost readers (very few
newspapers today compete in a two newspaper town).
Publishing a extra edition does nothing to bring in new subscribers.
The churn rate among subscribers may subside a bit during the crisis
(translating into slightly higher subscription numbers), but no newspapers
will be bumped up into the next circulation category which will allow them
to raise their advertising rates.
At a time when we are on the cusp of a recession, facing an uncertain
economic future, when overall advertising is already down (especially in
classifieds, because of the Internet), these newspapers through the
accounting books out the window and did was was right from a news
perspective.
I can't speak for the broadcast industry because I have no direct experience
there, especially on the financial side, but I imagine their economic
conditions are not far removed from what newspapers are facing.
H.
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