Everyone knows that The New York Times and other paper-based publications are in trouble, but now comes shocking news. The parent company of the National Enquirer is planning to seek federal bankruptcy protection.
Printing on paper really is on the way out if a newspaper cannot make a living by pandering to the base tastes of the American public.
The Enquirer (not to be confused with a distinguished paper with the same name in Cincinnati) based its reporting on celebrities and a lot of people who were near celebrities. They were based in Boca Raton, Florida, and paid employees handsomely, particularly if they could come up with the next earthshaking scoop on a pregnant starlet.
The media empire’s downhill slide probably started in 2007 when it closed The Weekly World News. That was the publication where the Men in Black got all their information about aliens.
The supermarket tabloids did some serious reporting, but not The Weekly World News. So it was harder to write for that publication because it was filled with fiction not news. The New York Daily news announced the bankruptcy filing of the parent company, American Media Inc. It said the firm also published Star, Men’s Fitness, Shape and Fit Pregnancy.
The bankruptcy petition does not mean the publications will fold. American Media seems to want to take on its creditors as business partners in exchange for eliminating its debt. Considering the current trend among struggling newspapers, it also could emerge as a non-profit corporation. Perhaps then it would bring back The Weekly World News and its Bat Boy, captured aliens and columnist Ed Anger.
The Daily News said that American Media was suffering from Internet competition. In fact, an entrepreneur already purchased the Weekly World News online rights and it publishing on the Internet, Bat Boy and all.