For three generations, the operational slogan of The New York Times has been this: “All the news that fits liberalism.” Now it is slowly going bankrupt.
It cannot compete with Google and Craigslist. Its advertising revenues fall every quarter. The last quarter was no exception. Revenues fell by 3%. Quarter by quarter, the newspaper bleeds money.
It is liberal. So, its audience is limited.
It is limited to the city of New York. So, its audience is limited.
It is designed for print media, in an era in which print media are dying. It has not made the transition to digital media.
Neither has the even more liberal Washington Post. Jeff Bezos just bought it for $250 million. It was worth five times that in 1995.
One by one, they are all sinking into the goo — Google.
Senior managers come and go. None of them has found a way to reverse the decline. The company struggles mightily to get out of the goo. Nothing works.
The Drudge Report is wildly profitable. It is run by a staff of two, plus an accountant — a very busy accountant. Drudge Report launched a torpedo into the side of Newsweek in 1998. It ran a story on Newsweek‘s suppression of the Lewinsky story. Newsweek never recovered. It is gone now. It sank in a sea of debt.
Liberalism is losing its grip. It bet the farm on its control over the three TV networks, big city newspapers, and education. The Web is undermining all three.
The Web is surely undermining ObamaCare, which is liberalism’s only major national legislative victory since Medicare, which passed in 1965. Healthcare.gov is the poster child of federal failure.
The decentralization of technology is the death knell for liberalism. Liberalism was based on gatekeepers, who controlled the distribution of information. These gatekeepers still stand in front of the gates, but the walls are down.