Hearst vs Pulitzer - Newsies | 5

Business Wars

Audible

History, David Brown, Business, Management

4.6 • 13.5K Ratings

🗓️ 21 June 2018

⏱️ 24 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

A close up look at a crisis of their own making. One that nearly cost Hearst and Pulitzer their grip on the country’s first media empires. Instead of pitting them against each other, the crisis would see the two media moguls finding rare common ground.

At the turn of the century, newspapers flew off the presses in 8 or 10 separate editions a day. Newsies grabbed them off stacks in the alleys and took to the streets, their little hands stained with ink. But when the Newsies go on strike, no papes get sold. No papes, no profit - which leaves both Hearst and Pulitzer with a BIG problem.

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Transcript

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0:00.0	Hey, prime members, you can listen to business wars, add free on Amazon music.
0:04.8	Download the app today.
0:09.1	It is late July, 1899, another scorching New York summer.
0:15.0	In Joseph Pulitzer's office in the world's golden-doned headquarters, Pulitzer and his
0:19.6	head of operations are reviewing budgets and crunching the numbers.
0:23.4	I don't know how we got this bad this quickly.
0:26.9	I do.
0:27.9	We got spoiled by those wartime circulation numbers.
0:31.7	It's a different game now.
0:33.4	The Spanish-American war has been over for nearly a year.
0:37.2	Pulitzer's world and William Randolph Hearst's journal spent hundreds of thousands of dollars
0:42.4	competing during the build-up to military intervention in Cuba.
0:47.0	They put dozens of correspondence up in fancy hotels and paid them lavish salaries.
0:53.6	The actual war ended in a flash with a decisive American victory.
0:58.8	The papers returned to business as usual, but their pre-war spending left them with six
1:04.6	figure deficits.
1:07.0	Even worse, the pace of news during peacetime has gotten pretty sluggish.
1:12.3	The big story lately is evidence of corruption in the New York City Mayor's office.
1:17.2	And in Tammany Hall, era, New York, that barely counts as news at all.
1:23.0	Pulitzer walks to the window.
1:25.4	His waistcoat flutters behind him as he paces the room anxiously.
1:29.4	What else can we possibly cut to eliminate our $350,000 deficit?
	...

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