In an odd twist, many on the right are actually aiding and abetting a very public suicide. They're doing this by canceling their newspaper subscriptions, tuning out network news, and turning in droves to alternate sources for their news.

The monopoly the old media had for the last forty years is slowly eroding and the powers that be seem unwilling or unable to adjust to the new reality of, well, competition. Instead, they continue to ignore the seismic changes brought about by the Internet and talk radio as they proceed with business as usual. A prime example is the flagship and driving force of the old media, the New York Times.

For decades, the NYT has enjoyed the reputation as the arbiter of the news. They report, and many newspapers, news anchors and journalists across the country follow their cue. This blind adherence has now turned into the modern day 'March of the Lemmings.’ 

As usual, the NYT seems to have opted for ideology over the bottom line. Their less than strict acquaintance with facts is also becoming obvious. Readers are starting to express their dissatisfaction—and so is the market. Duetsche Bank just downgraded NYT stock from hold to sell; this is the latest in a series of downgrades.

As goes the NYT, so goes much of the media who have adopted the Times' viewpoint as their own. Just last week, the Washington Post announced that its quarterly profit plummeted. Gannett Co., the nation's largest newspaper publisher, just announced that January operating revenue dropped 7.5 percent. McClatchy Co., another of the nation's largest newspaper publishers, experienced a January revenue decline of 14 percent and incurred a $1.43 billion after-tax loss on the fourth quarter of 2007. The Boston Globe has started offering voluntary buy-outs to employees and the Albuquerque Tribune just bit the dust—the latest in a long string of newspaper failures.

Declines are not limited to newspapers. Time Warner announced it expects to cut more jobs in its magazine publishing division and Newsday has just initiated 'job reduction' actions. CBS has announced profit has fallen about 15% and the New York Stock Exchange had to halt trading of Sun Times Media Group because their shares dipped below $1.00. Drip, Drip, Drip. 

These setbacks may be partly attributed to the rise of the Internet. In 2007, Internet ad revenue exceeded a record $21 billion, much of it taken from newspapers. A dramatic loss of confidence in the medium of television by the advertising industry is also siphoning much needed ad dollars from the three networks. But the most compelling reason seems to be the perceived liberal bias of the old media.

Whether or not one thinks the media is biased seems to depend upon where one fits on the ideological spectrum. According to Rasmussen, 50% of liberal voters have a favorable opinion of the top media dog, the NYT and 69% of conservative voters offer an unfavorable view. It appears at least half the country has decided the old media no longer fits their needs.

When one is constantly surrounded by others with matching views, its only natural to assume that everyone believes as they do. This is a common phenomenon among not just the media, but among inside-the-beltway politicos and blue-state cocktail party elites.

Consequently, the old media, following the lead of the NYT, has failed to take note not only of changing markets, but of the 50% of Americans who don't agree with their premises. Some media have adopted a token conservative or two to convince themselves they are impartial, but their bias continues unabated. This is evident not so much in what they report, but in what they do not report. No matter how flat the pancake, there are always two sides. The old media has ignored this and is now paying the price. 

The old media exhibits no inclination to recognize, much less acknowledge, the fact that their decline may stem from their perceived liberal bias. Instead, executive editor of the NTY, Bill Keller, recently attributed the negative reaction to their most recent hit piece on McCain to the fact that their readers are dense. This is cognitive dissonance, hubris or stupidity. It is also suicide.

Reality dictates that change is necessary for survival. So far, the media is concentrating their efforts on desperately maintaining the status quo, ignoring the fact that 'the times, they are a changing.’ It is likely that within four years, the old media will lose its ability to influence elections, attitudes and mindsets. The handwriting is on the wall—for those who care to read it, that is.

-Nancy Morgan is a columnist and news editor for www.RightBias.com