Sunday, November 12, 2006

A Chandler's advice for the L.A. Times

The newspaper can only thrive if its owners and editors make drastic changes.

By Harry B. Chandler, Harry B. Chandler has been a media executive in film, TV, the Internet and at The Times.
November 12, 2006

FOR MONTHS, many of us have been wringing our hands about the situation at the Los Angeles Times. And last week, when Tribune Co. forced out Editor Dean Baquet, it only underscored how dire the situation is at the newspaper. As a member of the Chandler family, which founded and controlled this institution for nearly 120 years, I have found these events to be particularly troubling.

First, let me clear up misconceptions about "the Chandler family." It is not a small group that meets at "the club" on Sundays, but rather 170 living descendants of Harry Chandler and his wife, Marian, who established the trusts that controlled The Times and its corporate cousins until the sale to Tribune in 2000. Many members of this extended family live outside Southern California; most are not named Chandler. Although many of us have a financial interest in Tribune, only eight sit on the board that makes decisions about the trust. I believe only seven, including me, have worked at The Times.

My point is that a family of this size, largely personally disconnected from this newspaper, is unlikely to act in concert toward a solution for The Times. What a shame that is.

(Snip)

Another sports ownership example worth contemplating is community ownership, like that of the Green Bay Packers football team. Article I of its bylaws states, "This association shall be a community project, intended to promote community welfare … its purposes shall be exclusively charitable." Sound appealing? If 20% of Times readers invest $1,000, it could work. I'll write the first check for the Los Angeles Times Community Owners LLC.

Hang in there, Times staffers and readers. There can be a winning season again for this institution, but only if the owners change, or their playbook does.

Complete Article HERE.

3 comments:

Edward Padgett said...

Harry,

I'll write the second check.

Anonymous said...

Hey most of us own stock. Yet our voice as stockholders don't count. Somethings wrong here

Anonymous said...

Hey most of us own stock. Yet our voice as stockholders don't count. Somethings wrong here