The Deal from Hell
- How Moguls and Wall Street Plundered Great American Newspapers
- Narrated by: L. J. Ganser
- Length: 13 hrs and 15 mins
- Unabridged Audiobook
- Release date: 28-06-11
- Language: English
- Publisher: Audible Studios
The "deal" initially referred to the bizarre take-over of Tribune Company by real estate cowboy Sam Zell, but more broadly came to refer to the merger of Tribune (The Chicago Tribune) and the LA-based Times Mirror (The LA Times). Using that deal as a prime example, the book tackles a wide range of problems that have befallen the newspaper industry in the last few decades. Through the lens of these specific mergers and acquisitions, we get a broad spectrum through which to view these problems in realistic ways.
On one level, The Deal From Hell is about all the problems in the modern American print journalism industry. First, the old newspaper families grow conflicted and unsure. Next, the bean-counters take over. Before we know it, management is demanding the demolition of the invisible wall between the business and editorial sides of a number of esteemed publications. Through it all, O'Shay guides us on a painful step-by-step process of what went wrong and how. Like watching a car crash in slow motion, we're given ample information at every turn to anticipate the arrival of all the most cringe-worthy moments.
On another, perhaps more significant level, this book is about how numbers-driven values are also eroding our world at large. At every turn, managers scheme to slice costs, fraudulently increase circulation numbers, and make cut after cut to the work force actively covering the news. Rome really starts burning with the arrival of the nutty Wall Street types, who ride in on a tide of big bank financing, office pinball machines, and sexual harassment suits. O'Shea subtly hints that it's not just the news at stake anymore, as our whole society becomes about profits and losses, zeros and ones.
The frank, honest narration of L.J. Ganser makes us feel as if we've been privy to the backroom wheelings and dealings of the business side, as well as the tense interactions of reporters on the newsroom floor. And, while The Deal from Hell might not be a comprehensive guide to the downfall of all western print journalism, it's definitely one hell of a story. —Gina Pensiero
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.
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Customer ReviewsMost Helpful
By Amazon Customer on 15-03-18
This is a great listen! The level of deal detail is great. The pictures painted of the people involved is worth hearing about all by itself!
By Lynn on 18-09-11
A Sad Tale
Look around the country and there is no doubt that America’s newspapers have been in a state of decline for sometime. James O’Shea, however, tells the story of this state of affairs from the perspective of a top editor. In The Deal from Hell: How Moguls and Wall Street Plundered Great American Newspapers, he relates how owners such as Sam Zell, Lee Abrams and Randy Michaels drove their papers into the ground. Along the way, he opens the curtains on what took place behind the scenes. This story will not be of interest to everyone, but will be informative to all who read it. O’Shea covers some old ground, but the review places this story in context. He spends a large amount of time on details which are tangential to the story, but extends the reader’s understanding and adds a great deal of color. Anyone interested in the decline of newpapers in the US and in media in general in that context will be rewarded by reading this book. The reading of L J Ganser is excellent.