A favourite tactic of media critics is to use anecdotal evidence to tar the whole profession. In his Business Day column this week, Xolela Mngcu goes one better. He convicts the media of “cowboy justice” in its coverage of Jacob Zuma’s legal travails, without providing one shred of evidence in support.
Reuters and Bloomberg have always gone head-to-head on who releases major economics news first - even if the difference is in micro-seconds. The difference triggers instant decision-making on stock markets, and those who move fastest can make the most money.
Now, three free SMS news services are getting in on the act for Jabu Public, and Primedia's Eyewitness-News seems to be the quickest. This is what I go yesterday afternoon:
3.46pm. Breaking EWN: Reserve Bank cuts interest rates by 100 basis points.
3.28pm. News24: The Reserve Bank has cut lend rates by 100 basis points.
Posted some thoughts on online adspend on my blog today:
Excerpt: "Those figures illustrate better than anything the conundrum facing newspaper proprietors. They are being told, day in and day out, that their industry is dead, or will be soon. Yet their business makes about 20 times as much money as the business which is supposed to be replacing it. "
Some thoughts on the future of newspapers. I'd appreciate your comments!
Is reform of state-owned broadcasters in Africa a write-off? Or are there elements to work on?
This was a debate represented by a paper written by Libby Lloyd, and a response by me, (as well as several other people!), in Cape Town this week. The discussion was hosted by the Friedrich Ebert Stiftung.