What do you believe the crucial differences between European and US newspaper markets are?
For one thing, the main difference is probably with national newspapers versus local ones. In the United States there has always been this tradition of very strong local newspapers, some of which have a near monopoly. Which is very beneficial to them from one standpoint, as they have been quite profitable over the years. On the other hand, it has maybe caused some difficulties for them now with more competition from new media which increases the challenge for them - having had less of that competition for advertising and readers in the past. In Europe, of course, you have the same scenario in terms of new media. But I think newspapers have had to deal with this sort of ultra-competitive environment in many markets for a little bit longer.
"Newspapers set the agenda"
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Eric Pfanner is London Bureau Chief of the International Herald Tribune. Based in Paris, he writes about the latest news, trends and developments in the international media industry, in addition to covering other business news and features. Previously, he covered key news events and trends affecting the European and global economies as IHT economics correspondent in London. Before that he was deputy business editor of the IHT in Paris, helping to coordinate the financial section’s daily report. From 1996 until 1998, he was an editor in the business section of The New York Times.