Old news

Old vs new media: Sidney Harman's death is a blow to old media. The hi-fi pioneer bought Newsweek for a dollar last year and merged it with the Daily Beast website. The combination may yet succeed, but Harman's passing at 92 is a reminder that many print outlets, despite continuing influence, survive largely at the whim of wealthy backers.

It’s true that the likes of Harman, and perhaps even the 80-year-old Rupert Murdoch of News Corp,have reason on their side in sticking with print. Even amid proliferating online media, newspapers and magazines still punch more weightily in many powerful places; and their stories — whether in print or on screen - still largely set the agenda.

But nostalgia for newspapers' heyday surely drives their enthusiasm to some extent. In that context, Harman’s departure from the scene is a warning. The Newsweek-Daily Beast combination has a chance of delivering mutual benefits, with the heavily loss-making magazine adding its still significant clout to the popularity of the website, edited by former print maven Tina Brown. And the New York Times’ recent decision to charge for online content may eventually deliver a brighter commercial future than recent trends would suggest.

Still, it’s an uphill struggle. Online revenue simply isn’t replacing the old-fashioned kind fast enough to keep publications still burdened with printing costs above water until readers look to their screens rather than their doorsteps for the news.

In the meantime, print needs the deep pockets of a Harman or a Murdoch to tide it over. The danger is that the old-timers’ successors might not be as inclined as they have been to keep the faith with ink and paper for long enough.