Business Quote by Astra Taylor

““Though it’s hard to believe now, newspapers were once the envy of the business world. Through the eighties and nineties, 20, 30, even 40 percent returns on investment were not uncommon, triple the norm for U.S. industry over the same period. Dollar signs in their eyes, chains devoured up local papers, consolidating and centralizing to maximize shareholder value, sometimes purchasing vibrant independent publications just to kill off competition. The overlords of monopoly journalism became increasingly disconnected from the communities they were supposed to serve. And when profits plateaued, they gutted themselves to maintain growth, trimming staff, reducing reporting budgets, and publishing fluff. Today, newspaper chiefs prefer to point fingers at new technology or distracted readers or even their own staff, but the erosion of standards and depth owes more to their long greedy binge than to the Internet or the rise of blogging or social media.””

— Astra Taylor