Thank you very much - University of Kentucky



Thank you very much. To our leader and Executive Director, Michelle Rea and her staff, and to the Board of Directors, thank you for your support. I wanted to take a few moments to talk about the state of our business and where I think we’re headed.

So what do Rupert Murdoch of News Corp., Roger Ailes of Fox News and Strauss Zelnick, the investment banker, all have in common? No, not their right-wing political leanings. Rather, they’re all pretty savvy media observers. And while many in our industry are declaring the death knell of the newspaper industry, including the weekly newspaper business, these moguls are quietly going and buying up weekly newspapers. That’s right. We all know about News Corp.’s purchase of the weekly newspapers in Queens, Brooklyn, and the Bronx. Oh, you say, but he did that just to help the New York Post with circulation and ad sales outside Manhattan? OK, what about Roger Ailes, who just last month bought the 3,000-circulation weekly newspaper in Putnam County – The Putnam News & Recorder? Do I hear you muttering vanity purchase? Maybe, but maybe not. And what about Strauss Zelnick (by the way, no relation) which owns the company that makes Grand Theft Auto (so he knows about new technology and is not afraid of it); why has he been heard to extol the virtues of old-line media companies like the ones you and I head? So what do all these big media tycoons know – or think they know – that others seem not to?

Today, in 2008, Rupert Murdoch, Roger Ailes and Strauss Zelnick are all headed our way – to the local community newspaper business. Why? Because they think we’re on to something that has sticking power. Strauss Zelnick said in January of this year that he wanted to invest more in “smaller businesses … that have digital components.” And apparently he believes in old line media companies because he thinks although we don’t currently have the answer yet on the digital business – we will eventually

So my talk to you today is really a pep talk. Some pretty savvy media watchers think you – and I – are perfectly positioned for the future – small, local media companies with a digital component.

I didn’t say the next two years was going to be fun. But I am saying you’re in the right place at the right time. And I am saying that we know what we need to do. We’re in a cyclical business…always have been, always will be. Don’t panic. We’ve had a number of amazingly good years; we’re likely in for a couple of bad ones. Honestly, we’re probably overdue for a couple of bad ones because it’s been so good for so long.

But here’s the thing: This is why you get the big bucks. Because each one of you knows how to run your business (exhibit A is that you’re here). You know how to invest more in your editorial products and be ever more local with coverage, how to watch pennies on printing and postage, how to turn the thermostat up or down, depending on the time of year. We haven’t had to bear down much in the past few years because it’s all come pretty easy. And now it’s not. But don’t panic. Let’s recommit ourselves to put out great editorial products that matter to people and are respectful of their busy lifestyles, help advertisers develop messages that get results a la Bob McGinnis “Results-Oriented Selling” and then worry about the pennies on our postage statements just like we did in the old days. For example, when was the last time you checked into how many copies of your newspaper you’re mailing to the NYPA? Do you know that NYPA, thanks to its move to electronic tear sheeting no longer needs 3 copies, only one? There, just saved you a little.

Have faith. Hold tight to all we know – in our guts -- about what makes a great local weekly newspaper. And watch for opportunities on the digital front….We’re where the big boys want to be!

Let Michelle and I, and the other directors, know how NYPA can help meet your needs during these challenging times.

Onward and Upward!

................
................

In order to avoid copyright disputes, this page is only a partial summary.

Google Online Preview   Download