The media in crisis

On October 2 French President Nicolas Sarkozy initiated a debate on possible solutions to the crisis facing the press. The daily Le Monde comments on today's media crisis: "The year 2008 will be remembered as a year of fundamental change for the press, with a drop in sales, ... fewer readers and decreased advertising revenues. These signs portend a media crisis, which is only exacerbated by the current economic crisis. One model seems to be perishing while another - whose form is still unknown to us - is being born. The printed press and Internet are searching [but] no one has found the winning formula. This goes for Europe just as much as for the US. ... The confusion is all the greater as we are seeing the end of a business model. French publishers are observing with consternation what is happening in the US. ... The prestigious New York Times will have to seek external capital and mortgage its new headquarters in Manhattan. On January 5 the daily featured advertising on its front page for the first time."

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