Is this what the Boston Herald calls a correction?
The Herald’s Inside Track chides the Phoenix’s Adam Reilly and Media Nation today for questioning a blog post by financial analyst Douglas McIntyre placing the Boston Globe on a list of 10 newspapers that may go out of business or go online-only by the end of the year.
What’s really amusing, though, is the way the Track quietly corrects an error made earlier this week on Jessica Heslam’s Messenger Blog. The error — which had Time magazine predicting the Globe’s demise — remains uncorrected.
As Media Nation was the first to report, Time, like several other media outlets, was merely running the feed from McIntyre’s 24/7 Wall St. blog on its Web site. Naturally, the Track takes Reilly and me to task for not doing any “reporting,” which it conveniently defines as not calling the Globe in order to get a “no comment.”
Finally, the Track manages the neat trick of lampooning Reilly’s and my skepticism over McIntyre’s claim that the Globe is worth only $20 million while simultaneously acknowledging that the paper’s real estate and other assets are probably worth more than $100 million.
The plain fact is that the most recent analysis anyone has seen is one put out by Barclays Capital analyst Craig Huber, who estimates the paper’s value at $192.8 million.
The newspaper business is in unimaginably bad shape, and the Globe is as vulnerable as any paper. If being cautiously optimistic about the future of the Globe makes me hopelessly naive, then I offer my deepest apologies.
Then again, I’m also one of the few media-watchers I know who predicts that the Herald will also survive. I suppose I could be wrong about that, too.
More: WBZ Radio (AM 1030) still has a Tuesday report up on its Web site wrongly attributing McIntyre’s item to Time magazine. Come on, folks. This isn’t that hard.