Over at TLF, Adam Theirer is bemoaning the fact that corporations can’t buy up the remaining newspapers.
If we were to believe the rhetoric of some in Washington and various pro-regulatory groups like Free Press, you’d think we still lived in the 1800s and that a handful of newspaper barons like William Randolph Hearst and Joseph Pulitzer still dominated our media landscape. Just today, in fact, Sen. Byron Dorgan (D-ND) introduced a “Resolution of Disapproval”—largely at the urging of Free Press and other regulatory advocates like Parents Television Council—that would overturn a half-hearted media liberalization effort undertaken by the Federal Communications Commission last December.
That FCC effort dealt with just one of the myriad regulations governing media structures in this country: the newspaper/broadcast cross-ownership rule. The newspaper/broadcast cross-ownership rule, which has been in effect since 1975, prohibits a newspaper owner from owning a radio or television station in the same media market. “No changes to the other media-ownership rules [are] currently under review,” FCC Chairman Martin noted at the time, leaving many TV and radio broadcasters wondering when they will ever get regulatory relief.
He has chart after chart after chart, showing the decline in the absolute number of newspapers, the decline in their revenue, the decline in the newspaper readership by age group (kind of silly really, as the reading of newspapers is declining across all age groups) The problem is of course that all of these metrics are wholly irrelevant to the importance of the role that a free press plays in our society, which can not be reduced to mere profitability of the newspaper sector. Further more, by changing the ownership rules, Adam presents no evidence that the newspapers themselves would become more profitable, just that if Walt Disney or General Electric bought them they could probably absorb the loses.

