The death of the business section shocking? Maybe not
Alexis Glick of Fox Business NetworkÂ ran a segment today about how some metro newspapers have cut their standalone business sections, and she interviewed Gail DeGeorge, president of the Society of American Business Editors and Writers, as well as Edward Atorino, a media industry analyst for Benchmark Co.
On her blog, Glick writes, “Shocking? It depends on how you look at. Some say yes, especially given todayâ€™s economy and the headline stories about the housing crisis, mortgage meltdowns, the stock market and the Federal Reserve cutting rates to revitalize the economy. Not to mention the fact that in almost every poll Americans are saying the No.1 issue when they go to vote is the economy.
“Some would say no, given the weakness in housing, mortgage companies, autos, financials and credit card companies. The traditional advertisers of those products and services are suffering and have smaller and smaller advertising budgets given the climate.
“Itâ€™s a fascinating story given the focus on the U.S. economy. Who are the beneficiaries? Why is this happening? What will this mean for local businesses? Is the Internet cannibalizing the newspaper business?”
Go here to see the video of the segment.