This article talks about job cuts at the Tribune Company’s papers. More broadly, it outlines the problems currently facing the aging media companies and how they are reacting to new challenges and market pressures. Perhaps one of the most interesting issues that this article brings up (written in the form of a dialogue) is the fact that even though newspapers are profitable, and their profits generally continue to grow, since they are seen as ultimately on headed towards demise, investors are not flocking to them. Rather, they head towards internet and other new media sectors, which they see as ultimately taking the place (financially, if not socially) of newspapers. The article, however, doubts that newspapers are own their way out.

Bagdikian works to expose the monopolistic practices of the media industry. He specifically focuses on the big five (Time Warner, Disney, Bertelsmann, News Corporation, Viacom) and how they act together like an oligopoly or cartel. One of the main issues is that they work together on joint projects that prevent them from being true competitors.

He also looks at the monopolies in other media areas, specifically newspapers. He examines the ways in which newspapers are run without true competition in local markets and the self-censoring effects of advertising (for a more in-depth analysis, I recommend Professor Baker’s books).

Another problem that becomes apparent is the conglomerate nature of these corporations and the fact that advertisers and interest groups can leverage their power against one facet of the conglomerate to create change in another (boycott ads in one periodical to protest an article in another in which the advertiser does not place its ads).