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Axios Re:Cap

The Death and Rebirth of Local Media

Axios Re:Cap

Axios

Daily News, News

4.5705 Ratings

🗓️ 24 July 2018

⏱️ 11 minutes

🧾️ Download transcript

Summary

Dan is joined by media reporter Sara Fischer to discuss the future of print media and if local papers have a future or are dying a slow death. Dan also talks about how former Uber employees are joining together to launch new startups. All that and more on today's Pro Rata Podcast with Dan Primack.

Transcript

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0:00.0

Welcome to Axis Pro Radha, a podcast that takes just 10 minutes to get you smarter on the collision of tech business and politics.

0:11.9

Sponsored by AT&T. I'm Dan Premack. On today's show, the rise of the Uber Mafia in what Blue Apron got very, very wrong.

0:25.8

But first, what might be the highly exaggerated death of local media? Now, the New York Daily News yesterday made headlines for laying off

0:30.3

around half of its newsroom, including every single one of its staff photographers. And this

0:35.0

happened just hours after it was officially acquired by

0:37.7

Trunk, which some of you might know is Tribune Publishing. Now, for anyone who lives in New York

0:41.4

City or believes in the value of holding local officials accountable, it was a very depressing

0:46.3

development. It even caused the rival New York Post to write, and I quote, we sincerely hope the

0:51.0

remaining staff can find a way to turn things around. We want to beat the

0:55.1

news, but not like this. Now, on the upside, it does seem that the new owners forgot to change the

1:00.2

Daily News's social media account passwords, so there was some pretty good shade thrown, although,

1:04.0

sadly, most of that since been deleted, luckily screenshoted by a few people. But the fact that

1:08.7

a big city daily is struggling isn't the surprise here.

1:12.3

After all, that's something that's been happening since the early days of Monster.com and Craigslist

1:16.5

and really the internet, which cannibalize the classified advertising that things like the news

1:21.0

used to rely on. But what might surprise you, and definitely surprises me as someone who briefly

1:26.6

ran a local paper at the dawn of the

1:28.7

internet age is that you are getting an actual uptick right now in local news all online. There's a

1:35.1

trade group and it's called the local independent online news publishers or lion and it reports

1:40.7

that its membership has doubled, doubled in the past year, thanks to both

1:45.4

the surge of startups and also some print papers who are finally, belatedly, moving online.

1:50.6

Now, I'm still not entirely sold on the business models here, but I'm incredibly grateful

...

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