Title : The Deal from Hell: How Moguls and Wall Street Plundered Great American Newspapers Category: Media & Communications
Brand: PublicAffairs
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Rating : 3.6
Buyer Review : 21
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In 2000, after the Tribune Company acquired Times Mirror Corporation, it comprised the most powerful collection of newspapers in the world. How then did Tribune nosedive into bankruptcy and public scandal? In The Deal From Hell, veteran Tribune and Los Angeles Times editor James O'Shea takes us behind the scenes of the decisions that led to disaster in boardrooms and newsrooms from coast to coast, based on access to key players, court testimony, and sworn depositions.
The Deal From Hell is a riveting narrative that chronicles how news industry executives and editors--convinced they were acting in the best interests of their publications--made a series of flawed decisions that endangered journalistic credibility and drove the newspapers, already confronting a perfect storm of political, technological, economic, and social turmoil, to the brink of extinction.
Review :
He's right. I was there.
James O'Shea has filled in the blanks on what I know to be true. I was a long-time employee of The Times and witnessed many of the disgraces that Tribune and Zell put us through. Perhaps those who find it difficult to follow have a hard time jumping from one newspaper culture to another but believe me, having a "strange" culture thrust upon yours is also very, very difficult. Yes, the first thing Tribune did was get rid of the people in HR and vow to "change the culture." They did indeed change it, they demoralized, deflated and beat it down. The employees as a group went from being in love with their company to being in mourning for it.
The problems for newspapers as O'Shea outlines are true, to which I would add that the American public has lost a great deal of its intelligence and is happy with "headlines." (I would refer you to another book, "Idiot America.")
Sam Zell and his clowns were every bit as disgusting as O'Shea claims. I saw them give their...
5-Star......Final!
Newspapers are about "the truth."
This book about newspapers seems like it's adapted from "The Twilight Zone."
And that's not a good thing for the people involved.
For those of us who still love newspapers, this is a must-read.
I trust the reportage from author O'Shea......his straight-forward style makes it a breezy read....even though I have no real concept behind the financial machinations that allowed this deal to happen.
We moved to Los Angeles in 1966, and since then, I doubt I've missed more than a handful of editions of The Times.
In the good old days, I couldn't wait to read Jim Murray, Jack Smith, Paul Conrad and the Wizard of Id.
Now, I wince each morning when I remove the paper from the plastic bag, fearing some new degradation to the product.
(I love the writers, editors and reporters, who despite the odds, put out the daily miracle).
But O'Shea's premise that newspapers are beholden to the community and not the stockholders...
Shareholder Greed & Management Incompetence: A Deadly Combination
James O'Shea had a ringside seat at the Chicago Tribune and then the Los Angeles Times as incompetent executives and greedy stockholders -- few of them with any clue how newspaper journalism really works -- sucked the lifeblood out of them in tragic mergers, which affected other newspapers, including the Baltimore Sun where I worked for 43 years.
Then came Sam Zell, a real estate mogul who knew even less about newspapers, who bought the Tribune Company, which included the Times-Mirror chain, the Chicago Cubs and a bunch of smaller newspapers and some TV stations for a pile of money he didn't have.
Zell appointed the equivalent of journalistic idiots, led by a former shock jock, to run his new newspaper empire. And run it they have, into bankruptcy and damn near into the ground.
The incompetence of the Zell management team combined with the loss of advertising to new electronic media, has crippled once-proud and prestigious newspapers and left them...
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