SAM ZELL’S NEW THINKING [INNOVATIONS IN NEWSPAPERS]

A quote from Sam Zell via SAM ZELL’S NEW THINKING at WHAT’S NEXT: INNOVATIONS IN NEWSPAPERS:

“I don’t believe it’s fair to hold me to the sentence that I expressed six months ago.

I don’t know that anybody has a frame of reference on advertising revenue destruction that, in effect, is as bad as this, going all the way back to the Depression.

So I think the circumstances are dramatically worse than anyone could have possibly predicted.”