Major Metropolitan U.S. Daily For Sale … Bid $1.00

The NY Daily News, a major U.S. Daily with circulation of over 500,000, ranked in the top newspapers by circulation in the U.S., is up for sale.

The bid price is $1.00!

NY_DN

The insert on the left is yesterday’s front page. The $1.00 bid price is not an April Fools Day joke. Legacy print media is still struggling, apparently, to regain previous valuations — which is perhaps an unobtainable goal.

The Economist’s Tom Standage, in a Nieman Journalism Lab article, prepared an interesting view on digital strategy and the limits of a journalisim model based on advertising. Read Tom’s interesting take on what the future of journalisim might look like no matter what the form factor.

The cost of news has historically been subsidized by advertising. That made it available to a broad spectrum of the population at a reasonable price. At one time, newspaper subscriptions exceeded 100% of households. Today that number is in the 30% range.

Many in the industry thought that digital advertising would replace the loss of print advertising. So far that has not been the case as indicated in the chart below:

2164_n

We don’t know what the future form factor or business model for journalism might be. But the current model appears to be around $1.00

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