Disney Corp. to lay off 20% of ABC News staff because the division is "only marginally profitable"

[brentspeak]

I hate to cite a Fox News source, but the quote revealing Disney's rationale for laying off 300-400 ABC News workers demonstrates the total joke of our corporate media system. The news division is "only marginally profitable" -- so what? There used to be a time, before media consolidation, when networks didn't produce news broadcasts to satisfy Wall Street's ever-increasing hunger for profits; they produced news broadcasts as a public service.

http://www.foxnews.com/story/0,2933,587328,00.html

[Echo In Light]

1. How bizarre to think Disney has such sway over the national propaganda apparatus lol

Fitting

[NoNothing]

2. Do you have a source for that?

I wonder if that is really true. Was the news unprofitable when there were only three networks? I rather suspect that news broadcasting has *always* been about profit.

[zipplewrath]

4. Yes, Cronkite

He talks about it in his book.

[brentspeak]

7. The "only marginally profitable" Disney quote is from the link

[sharesunited]

8. In the days of Paley and Sarnoff, it was about building prestige for the medium.

The great department stores of the 20th century were all things to all people.

But that business model changed too, giving way to the mall.

Little stores serving niche customer bases.

Same for television. That's the way I sees it.

[HopeHoops]

3. Maybe Disney could emulate FOX and get Dopey to give the news on ABC

Yeah, that's the ticket!

[KittyWampus]

12. dupe

:)

[KittyWampus]

13. that would be hilarious and if someone hasn't done a spoof along those lines, someone should

:)

[HopeHoops]

14. What spoof? They have Glenn Beck and he's dopier than ANY Disney character.

:crazy: :dunce:

[KittyWampus]

17. he has the big head of a cartoon but none of the cute-factor. Even ET was cute in an alien

sort of way.

[HopeHoops]

21. ESPECIALY when he hid in the stuffed animals in the closet.

[eppur_se_muova]

24. Dopey is mute, so that would be a big improvement. nt

[RockaFowler]

5. I work in local TV and it's all over the place now

I work in sales and our sales were down last year, so there has to be cut-backs. Our reporters are all MMJ's (Multi-Media Journalists). They have to do the whole report now. They edit, write, report and shoot their own stories. The only time we need to use a camera man is when there is a live shot. WE are now doing what's called a hub for commercial traffic. Our design department is also located in a hub. So, those of us left have to take up the slack and do more work for less pay (we were all given furloughs last year, too).

[arcadian]

6. Time to ratchet up the lies, sensationalism and propaganda!!!

It's not working so more of the same = better, correct?

[Botany]

9. Because the news is not just how they want it to be but ...

.... they hire Bristol Palin for some sort of schlock, produce The path to 9/11,
and give young girls w/ Hannah Montana.

[nemo137]

10. Man, it'd be nice if we had real public broadcasting in this country.

I'm not even talking about about giving the government some kind of media monopoly, just something other than the bastardized, half-starved thing we have now.

[WI_DEM]

11. Maybe they will get Hannie Montani to deliver the news?

[Sebastian Doyle]

18. And her pole dancing 9 year old sister too

Maybe they'll even bring Billy Ray on to do the NASCAR report?

[NashVegas]

15. You Can't Blame Everything on Consolidation

Outlets were limping through that for the benefit of shareholders.

As it stands right now, with so many internet outlets filching material that the networks bankroll, how can anyone expect that gravy train to last?

[Liberal In Texas]

16. There was a time that news departments always LOST more money than they brought in.

But it was a condition of having a license to broadcast. When it started to go wrong was when newscasts started to make money and the predators and consultants got hired to increase ratings and revenue. And now it's gone so far that outlets like FNC shill for corporate and political interests.

[ThomWV]

19. Public Service was the cost of using of the public airways

That was when it was recognized that the people owned the nation. That is no longer the case. Now the nation is owned, in parts, by those individuals able to garner whatever sum it took to privatize what was, and should always have remained, public resources.

[Xolodno]

20. "only marginally profitable" is code word for one of three things...

1. Yeah its still profitable...but things are trending down and it won't be for much longer.

2. We could invest the same amount of money some where else and get a better return.

3. All of the above.

[HiFructosePronSyrup]

23. Some exec being interviewed on NPR was claiming #1.

Or a variation thereof.

[Greyhound]

22. Paley and Cronkite both say, "we told you so, dumbasses". n/t