12/10/2013 05:02 pm ET

Newspapers Should Return To Their Roots

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Forget about the elephant in the room, the beast is already half way out the door! That’s essentially what the CEO of a leading local media buying organization proclaimed at a recent gathering in Chicago of retail and media executives when referring to the decline of the newspaper industry. While an estimated 65 million people still read the Sunday newspaper, paid subscriptions have declined over 30% since 1990, especially among the 44 and younger age demographic. Just in the past six years, circulation has declined 20-40%, readership is down more than 25% and ad revenues have declined 55%. Wall Street and the financial community have shown their lack of confidence in this sector as enterprise values have declined more than 80% since 2006. The recent Boston Globe and Washington Post sale along with pending disposal of the Tribune Group are just a few examples of an industry falling to the wayside. - See more at: