Perhaps the business outlook for most industries is bleak thanks to the global economic crisis, but there’s a strangeness to the media industry’s troubles, since it has to report on its own undoing. And there is plenty of undoing to report.
Ailing ad sales? Restive workers? Colossal costs? If your media company is experiencing one or more of the above symptoms, try outsourcing. While the long-term side effects are not yet known, outsourcing is proving to be an increasingly popular remedy for media companies looking to buff up their balance sheets.
Media coverage of economic troubles in the past 18 months has shifted repeatedly in the last year from a narrative about mortgages to one about recession, a banking crisis and now largely gas prices, according to a new report from the Project for Excellence in Journalism in Washington, D.C.
There are humble beginnings, and then there are those who get dropped-kicked. An example of the latter is what’s being billed as 2008’s first media sector initial public offering: RHI Entertainment LLC, makers of “Kung Fu Killer” and “Kung Fu Killer II” and other made-for-television movies.