CJRDaily recently interviewed Davis “Buzz” Merritt, editor for 23 years of the Wichita Eagle, about his new book Knightfall: Knight Ridder and How the Erosion of Newspaper Journalism is Putting Democracy at Risk.
On the jump is a simple explanation of what an emphasis on profit does to journalism.
First of all, we know that politics sometimes influences who wins a Pulitzer. That said, here are the numbers: In the decade of the 80s, what I call the Big Five — the Los Angeles Times, the New York Times, the Washington Post, the Wall Street Journal and AP won 26 percent of the 136 Pulitzers awarded. Knight Ridder newspapers won 23 percent, and all other newspapers won 51 percent. Between 2000 and 2004 [with 70 Pulitzers], the Big Five won 60 percent, Knight Ridder 6 percent and all others 34 percent. During the 80s, the operating return at Knight Ridder averaged 11 percent. Between 2000 and 2004, the operating return averaged 19 percent.
As soon as Knight Ridder began to reach into 18-20 percent [profit margins], they virtually stopped winning. This is ominous, and not just for Knight Ridder. The Big Five are relatively protected from market forces, except for AP, which is a different category. The numbers aren’t just the decline in Knight Ridder’s performance. The scary thing is that all other newspapers also are being hurt [by profit pressures]. It doesn’t prove anything, but it is interesting to look at.
Read the full text here.