On November 29, 2009
The “Grand Canyon” Facing the New Media Industry
While I was gazing at the Grand Canyon from its south rim last week, it occurred to me that the yawning gap in the earth in front of me was the perfect metaphor for how much the media business has changed over the course of my career. There simply is nothing much left of the world as we knew it in the early seventies, when I relocated across the country to San Francisco to help launch a new magazine. Then, we used a combination of three main revenue sources — advertising, subscription, and newsstand sales — to offset the cost of printing and distributing our product. One of our main business concerns was the pending elimination by the Nixon administration…
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