One of the results of Tribune Co.'s December Chapter 11 bankruptcy filing and the sluggish economy is Monday's announcement that the media conglomerate is consolidating the newsroom of a newspaper and two television stations in Connecticut. The move is part of a growing trend of media conglomerates combining their newsroom resources to save money in one of the harshest economic climates since the Great Depression.
Sam Zell's Tribune said it will combine the operations of the Hartford Courant and two television stations it owns in Connecticut, Fox affiliate WTIC-TV and CW affiliate WTXX-TV. Richard Graziano
will be named publisher of the print/broadcast news-gathering operation.
"This is the future of media," said Randy Michaels, Tribune's chief operating officer. "Whether in print, over the air, or online -- the delivery mechanism isn't as important as the unique, rich nature of the content provided. Bringing these media properties together will enable us to bring more resources to our news coverage, improving and expanding what we can offer readers, viewers and advertisers in the area."
That's likely to happen, but the biggest factor in this initiative is cost savings. Although cost saving numbers were not mentioned in Tribune's official statement, let's face it, it's obvious the combination of newsrooms into one will probably save some money. Operating a television station is expensive these days, so being able to streamline operations from combining production jobs and possibly using reporters who have an expertise in one area to report on an issue in a newspaper, digital and broadcast format would benefit Tribune's bottom line. Of course, the downside may be the loss of the variety of coverage as well as the possibility of no reporting on some stories due to lessened competition.
So the likely scenario of operating a cross-platform newsroom may be less of a voice in exchange for more of the almighty dollar. In the real world, that may be the only thing that counts. - Gerald Magpily
See Tribune press release
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