Another non-real estate post, but this is pretty big: The Boston Phoenix is closing.
Though the writing was on the proverbial wall when the Phoenix recently switched from newsprint to glossy magazine in a desperate attempt to shake things up, it’s still shocking to see a once-mighty institution go under like this.
For the Phoenix, it wasn’t just the loss of display advertising dollars and younger people switching over to the Internet and mobile-devices for their news; the entire business model collapsed, especially after Craig’s List devastated the circulation business for all publications. For years, the Phoenix relied heavily on its adult ads that were once shunned by the MSM.
File under: The times they are a changing
An update — Some of you who tried to get on the Phoenix site yesterday probably discovered the site had crashed due to such a heavy volume of people trying to view the last issue. Think of it in terms of a crowded, last-viewing wake. Anyway, the BBJ did find the final editor’s message. And here’s the good-bye statement from owner Stephen Mindich.