The future of newspapers via Sam Zell
Sam Zell popped over to CNBC’s Squawk Box on Tuesday to chat about real estate and investment opportunities in the U.S. and abroad. This being MediaFile, we were most interested in what Zell had to say about Tribune Co., the company that he helms and that is currently slogging its way through a bankruptcy with warring creditors.
Zell didn’t reveal a whole lot when asked about the Chapter 11 process but he did share his thoughts on the future of newspapers and that future involves… PDFs! Zell is pretty sweet on the idea that home delivery will just go away something the Detroit Free Press and Detroit News semi-embraced more than a year ago. Instead newspaper subscribers will be able to get electronic versions of the newspapers.
Here’s Zell on what he believes is in store for newspapers: “Going forward it’s going to require all kinds of different approaches, including, probably the most significant, the elimination of home delivery and the replacement of it with PDFs. The iPad is the real example of almost replicating a newspaper on an instrument. I think that is only the beginning of how that is all going to evolve.”