January 12, 2009

Media woes explained

The other day, I read that Time Warner, which publishes Time magazine and owns CNN and a bevy of other media companies, would “write down” its assets by $25 billion. It is apparently an adjustment that is necessary in order to reflect the declining value of its properties. I’m sure the failing economy has a lot to do with it, but the AOL-Time Warner merger and other questionable business decisions probably played a role, too.

Then I read a George Will column about the Death of Common Sense.

These two seemingly disparate events merged in my mind today, when I opened the mailbox and found this postcard from my friends at Time magazine:

Need I say more? I believe I'll forego seeking a refund -- and paying postage to send my request. Instead, I'll look forward to enjoying my one-cent issue of Time. Who said there aren't bargains anymore?

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