Saturday, April 25, 2009

Why Are We Too Being Forced To Gaze At The Caput Medusafied CanWest Navel?




Because, as Charlie Smith explains in the GStraight, the (not-so)Magnificent AsperSons and friends may have an ulterior motive up their pretend rolled-up sleeves:

Canwest News Service launched a series today (April 25) regarding the siege mentality in the newspaper industry.

The first article pointed out that many newspapers are profitable and that advertising in them is worthwhile; the problem is that big media companies are having trouble paying down huge debts.

For the benefit of the taxpayers, I hope that this series explores why this is the case.

Huge media conglomerates such as Canwest Global Communications Corp., CTVglobemedia, and Black Press went on acquisition sprees at precisely the wrong time.

In the current economic environment, it's not too tough to make the case that these companies' executives, who are sometimes lionized in their own publications, made stupid decisions by piling up huge debts just as the business cycle was heading into a downturn.

Now, newspaper companies with broadcasting assets (i.e. Canwest and CTVgm) want the Harper government to bail them out by creating new revenue streams paid for by consumers through their cable bills.

To which we scream, NO!

Because if the acquistion driven media monolpolists were forced to sell off profitable papers off at a dime on the dollar, I would be willing to bet that a whole lot of worker-assisted shareholder collectives would happily to snap 'em up and run 'em as Independents.

Especially if some progressive-type party were to push legislation in, say, this fall's apparently -almost-certain-federal-election-campaign, that put the kibosh on single city multiple print organ-grinder monopolies.

I mean, could you imagine.....The V-TC, VSun, Province, Globe and that Sun thing all actually competing with each other.

Valhalla we'd be coming!


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