Newspaper companies across the nation are being forced into bankruptcy, which according to the Silicon Valley Watcher, have reported rates of falling revenue not seen since the great depression. The greatest impact on the undustry was felt last Febuary when Colorado’s giant, “Rocky Mountain News,” published its final paper, titled “Goodbye, Colorado.” Other corporate giants share the same financial struggle, even the 144 year old veteren producer of the, “San Francisco Chronicle,” has had to cut a third of its newsroom in the past two years in response to financial pressures. The CEO’s of Chicago Tribune are also distressed due to a $13 billion debt, filing for bankruptcy protection Monday.
It is relatively clear the widespread failure of newpaper companies is reasonably connected with the drastic development of the internet’s popularity. The social media revolution has undeniable potential in our modern world. However we musn’t overlook the negative impact this places upon the newspaper industry, thousands of jobs have been lost within only a few years and thousands hanging by a thread. Looking back at our class lecture regarding Management information systems (MIS,) my research shows we overloooked this important economic standpoint. The upbeat music from video shown in class shared this problem.
