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The Vanishing Newspaper In The 21st Century Innovation

4238 words - 17 pages

Executive Summary
The media have been covering the bad news about newspapers for years. To see and read these accounts is to encounter an industry that seems on the verge of crisis, and possibly on the edge of the abyss. In many U.S. markets, the dominant paper is a fading enterprise. In the long run, no newspaper is safe from electronic technologies. A crisis of confidence is combined with a technological revolution and structural economic change to create what can only be described as the perfect storm and as younger readers turn toward free tabloids and electronic media to get news.
To be certain, all is not as well as it once was at the Miami Herald. Circulation, which ...view middle of the document...

The emerging ventures hold promise but do not yet have the experience, resources, and reach of shrinking mainstream newspapers.

Congress has begun debating whether the financial problems in the newspaper industry pose a public policy issue that warrants federal action. Whether a congressional response to the current turmoil is justified may depend on the current causes of the crisis. If the causes are related to significant technological shifts the Internet, smart phones and electronic readers or societal changes that are disruptive to established business models and means of news dissemination, the policy options may be quite limited, especially if new ways of reporting and, equally important, advertising are beginning to emerge.
History
The word Herald is defined by the Webster’s dictionary as an official messenger of news; and as a result serves as a suitable name for The Miami Herald. Since its inception more than a century ago, The Miami Herald serves as South Florida’s largest newspaper. On average, “The Herald has an estimated daily print circulation of approximately 160,000 and 230,000 on Sunday in South Florida, Latin America and the Caribbean” (The McClatchy Company, 2006). Its early history traces back to September 15, 1903, when The Herald then called the Miami Evening Record, published its first edition. Subsequently, in 1910, Henry Flagler bought the newspaper and on December 1st renamed it The Miami Herald. It was during this time that The Herald was known as a “reporter’s paper” because it gave their writers the opportunity to use freedom of expression. (Choeff, 2006) In terms of advertisement, in 1920 during the Florida land boom, The Herald was the largest newspaper in the world. However, in 1930 due to financial strains caused by The Great Depression, the newspaper almost filed for bankruptcy. In later years, on October 25, 1937, brother’s John and James knight bought The Herald in their efforts to build one of the largest newspaper chains known as the Knight Ridder Inc. (Smiley, 1984) In order to gain an international market, The Herald expanded its newspaper to the regions of Latin America and the Caribbean in 1948. This newspaper was named The Miami Herald International Edition and was printed by partner newspapers in its various regions. Due to The Heralds constant crusade and efforts to report Miami’s crime and community problems, it won its first Pulitzers Prize in 1951.
The neighborhood of Biscayne Bay serves as home to The Heralds headquarters where construction began on August 19, 1960. Upon completion, the company moved into its new building in 1963. Due to its extensive coverage and influence in Miami’s increasing Spanish population, a Spanish supplement insert, El Herald was published in 1976. In later years this publication was renamed El Nuevo Herald in 1987 and in 1998, was circulated as an independent publication. In 2003, The Herald and El Universal of Mexico City collaborated to create an...

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