SW Media Credit Crunch Update

south west | media and culture | news report Tuesday November 25, 2008 20:55 by MediaWatch - SouthWestWatch

SouthWestWatch - A news-kebab of facts! From the MediaWatch dept.

Tindle Newspapers fights 'em on the beaches (sort of) and the Daily Mail Group sheds jobs...all news to you today for free thanks to South West Watch!

As we reported before, the slum in ad revenue combined with falling sales and the credit crunch is spelling trouble for local media. First it was ITV, then Gannett - and now that bastion of ranting - the Daily Mail (owners of Venue, Evening Post, Western Morning Press, thisisbristol.com, Metro and more...) is handing out the P45s;

Daily Mail & General Trust's (DMGT) Associated and Northcliffe newspaper divisions have already cut 400 jobs in the past two months as part of a £100m cost-cutting drive.

Another bastion of hyper-local news, Tindle Newspapers, claims they will fight the changes for the sake of local news...

"How many businesses with pre-tax profits this year of £7m can claim to be debt-free and to maintain such an iron rule that none of its accounts are ever overdrawn?...Tindle is something of a newspaper legend, but not a miracle. He has never borrowed money, growing from one to 225 titles, all weekly or monthly, by saving first and acquiring second. But he does not pretend immunity against the downturn or subsidised BBC "super-local" competition...."

Oooo sounds grand. However as the article goes on it is clear that Tindle Newspapers has another Iron Rule (of sorts) - don't argue with the army;

There have been wider issues, notably when Tindle's strength of feeling about the services led him to ask his editors not to report anti-war events once the 200 invasion of Iraq was under way. Much condemned, the ban was lifted as soon as the conventional phase of the war was over. It didn't cow staff such as the general manager of South Hams Newspapers, Jackie Smith, who told outside journalists, "it's his train set", and didn't suffer as a result. http://www.guardian.co.uk/media/2008/nov/17/ray-tindle-...apers

While Iraq is a train-wreck. Still it's all about freedom of the press; provided you own one that is...

More SouthWestWatch articles;

Red Faces at the Evening Post & The Decline of the Local Press
http://bristol.indymedia.org/article/688859

Gannett Plans 10% Cut in Workforce
http://bristol.indymedia.org/article/689199

The Ongoing Decline in Local Media: ITV Cuts
http://bristol.indymedia.org/article/688980