Print and Online Regional Press: Navigating the Impact of Financial Crisis and Digital Transition

The regional press serves as a fundamental pillar supporting the institution of democratic reporting in local communities. In Greece, regional development has been and continues to be uneven, resulting in disparities evident within the evolution of regional press across provinces. The financial crisis within the Greek economy, coupled with the prevalence of electronic media and social networks, has placed substantial pressure on the regional press. The objective of this study is to delineate the current situation and recent developments in the structure of Greece’s regional press, with a specific focus on daily newspapers. The study’s findings have established that the financial crisis, the growth of the internet, and the utilization of social media have brought about significant changes in the structure of publishing companies. However, it is noteworthy that despite their declining sales, there has not been a necessary impact on their readability.


Introduction
Regional Press stands as a key pillar that underpins the establishment of democratic journalism within local communities.Its role transcends the mere documentation of events and the dissemination of local news; it also serves as a platform for highlighting and alerting the central administration to local concerns.
The Regional Media, in essence, act as channels of communication for societal segments without privileged status.They bring forth demands and generate awareness around specific issues.The term "region" not only pertains to geographical or administrative divisions but also encompasses cultural and even linguistic domains as a consequence of historical processes (Sarikaki, 2000).These media outlets serve as democracy's cornerstones, characterized by a diversity of topics that foster the proliferation of various perspectives.They provide a forum for the expression of social and professional appeals and act as a platform for resistance against the concepts and ideas propagated by globalization (Demertzis & Skamnakis, 2000).
Furthermore, as outlined by Demertzis and Skamnakis (2000), the regional media also exhibit characteristics linked to linguistic or minority distinctions.They operate as channels of communication for specific social groups, shedding light on their requests or drawing attention to particular issues that concern the local community.Additionally, Nielsen (2015) contends that local media serve as representatives of their respective regions, aiding citizens in cultivating a sense of community through shared local news platforms.This fosters a stronger connection between individuals and their geographical locale or politically defined administrative boundaries.Panagiotopoulou (2004) posits that the local and regional press functions as a local public entity involving all members of the corresponding community.This aspect is pivotal and allows us to employ the term "communal communication" when addressing the establishment of a shared framework and sense of community.The concepts of regional and communal media are undergoing rapid growth and development (Fairbairn, 2009).Communal media encompass print, radio, television, and internet outlets featuring content in local languages.
Due to their close ties to the social environment, regional media face additional challenges in maintaining their independence.The risks of political influence and a lack of transparency tend to be more pronounced at the regional level compared to the national one.To counter these potential dangers, specific regulations must be implemented.For instance, it is necessary to declare the executive roles within regional media as incompatible with involvement in politics.Funding mechanisms should not solely be subject to political oversight; they should also be structured with a system of checks and balances that ensures editorial autonomy (McGonagle & van Eijk, 2014).
In line with this perspective, the recent declaration from the European Committee regarding the Rule of Law emphasizes the vital importance of investigative journalists, independent media, and oversight conducted by civil society in upholding accountability among decision-makers (European Committee, 2020).

Financial Aspects of Regional Press
The crisis in the media, particularly within the realm of print media, is not attributable to a single cause but rather to a gradual accumulation of diverse objective factors over the long term.It is the convergence of these factors, combined with the aftermath of the profound financial crisis, that has afflicted the Greek economy, which has prompted a significant reconfiguration of the country's media landscape.
The global financial crisis, especially in its manifestation within our nation, served as the catalyst for considerable challenges to the viability and progress of daily regional newspapers.Specifically, the economic downturn in the Greek economy, coupled with the international oversight imposed on the country, precipitated a substantial contraction in various markets, including the media sector.This had a direct impact on the regional press, resulting in the closure of a number of daily local newspapers that were unable to sustain themselves in such circumstances.Nonetheless, several publications have managed to endure due to their localized content, a key factor that continues to resonate with the local communities they serve.
In addition to the financial crisis, technological advancements have induced significant transformations in both the business sphere and the fundamental components of the media landscape.As asserted by Nielsen (2015), the business models upon which local newspapers traditionally relied are currently encountering considerable strain, with declining readership, diminishing advertising, and an overall reduction in revenues.In response, a majority of newspaper enterprises have taken steps to curtail expenditures, aiming to sustain profitability or, at the very least, to mitigate operational deficits.
The advent of the digital revolution has brought about a shift in the prevailing dynamics and has eroded the conventional financial underpinnings of local media outlets.Notably, it has fundamentally altered the longstanding reliance on advertising as a primary source of funding, a dependency that publishers, journalists, and readers have grown accustomed to over the course of the past fifty years.With limited avenues for expansion apparent, investors have displayed diminished interest in this sector, a trend underscored by the notable decline in market valuation among publicly traded local newspaper companies.
From a business perspective, local and regional media are predominantly comprised of small-scale companies or individual enterprises.They typically serve specific, limited geographic areas and are primarily sustained by the communities and regions they serve.Local publishers are increasingly exploring avenues for generating revenue, including subscription models, advertising, and supplementary sources of income such as publishing financial reports.As noted by Nielsen and Jenkins (2018), these organizations are often finely tuned to the specialized niches they cater to, but they often operate with fewer resources and consequently possess less intricate digital production infrastructure.They place significant emphasis on catering to a specific geographical locale and audience, which renders

Mitka and Gioltzidou
Print and Online Regional Press: Navigating the Impact of Financial Crisis and Digital Transition them less capable of achieving economies of scale and consequently places them in greater reliance on local, sustained support.
Consequently, within the last few years, Greece has witnessed the closure or transformation into weekly publications of over 40 daily local newspapers, concomitant with significant declines in their sales figures.As discussed by Skamnakis ( 2019), there exists no centralized mechanism for tracking the circulation of local newspapers, largely due to their distribution occurring primarily through private means rather than through delivery agencies, which is the norm for national newspapers.As a result, gathering more comprehensive analytical data remains a challenging endeavor.

Methodology
As part of the current research, a total of 60 interviews were undertaken involving representatives from the regional press.The primary objective was to gain a more comprehensive understanding of the landscape within our country.The study was conducted between November 2018 and February 2019, encompassing a diverse selection of publication areas to explore potential distinctive requirements.The interview inquiries were centered on the study's two principal themes: the implications of the financial crisis and the digital transition on the future trajectory of local journalism.
With respect to the crisis, the investigation extended beyond pragmatic considerations to encompass the perspectives of the participants in relation to the matter.At the core of this research lies the pivotal question: What is the current state of the structure of regional press in Greece?

Results
In the first place, an attempt was made to outline the structure of the regional press by considering various aspects, including the legal structure of the businesses, the exclusivity of the publisher's profession, the publication's frequency, the number and color of newspaper pages, and the presence of any specialized editions.

Legal Structure of the Regional Press
Regarding the legal structure of regional press, the data presented in Table I indicates that approximately half of the prevailing enterprises in Greece operate as individual sole proprietorships with limited liability.These entities offer notable flexibility concerning business decisions related to activities, technological approaches, and, to some extent, production scale.This legal structure's primary advantage lies in its adaptability to various aspects of operations.
Partnerships and Limited Partnership Companies share certain fundamental traits, with their distinction primarily rooted in the level of liability assumed by the partners.In a Partnership, all partners are held accountable, utilizing their entire assets, for all company obligations.Conversely, in Limited Partnerships, liability is restricted, and partners cannot be held liable beyond their respective contributions to the company.Importantly, partner responsibility for the company's debts persists even upon the dissolution of the company.As a result, the contrast between Limited Partnership and Sole Proprietorship isn't substantial.

Co-Ownership and Publisher's Exclusive Profession
Regarding the exclusivity of the publisher's profession, the data in Table II indicates that 86.7% of publishers are solely engaged in the publisher's profession without any other concurrent occupation.On the other hand, 12% of publishers are also involved in other professions alongside their role as publishers.
The bulk of publishers, approximately eight out of ten, are exclusively dedicated to the endeavor of regional press publication.Does the publisher practice another profession?Furthermore, a notable majority of newspaper proprietors, 7 out of 10 constituting at least 73.3%, indicated that they do not hold co-ownership in any other media entities.Conversely, 26.7% of proprietors are involved as co-owners in other media outlets, as illustrated in Table III.
Based on the data presented in Table III, it is evident that certain publishers are proprietors or coproprietors in multiple media outlets.Specifically, out of the 16 newspaper owners who mentioned their co-ownership in other media, their collective ownership encompasses a total of 20 different media entities.
Taking a more detailed look at the data in Table IV, it becomes evident that half of the newspaper owners who took part in the research also possess ownership or co-ownership of a radio station (56.2%).Following this, ownership of a weekly newspaper stands at 43.8%, while co-ownership of an Internet portal is at 12.5%.Additionally, co-ownership in a television station or another daily newspaper is reported by 6.2% of respondents.
The results highlight that a majority of participants are proprietors or co-proprietors of radio stations.Radio, followed by television, has been the primary print media competitor.It is worth noting that the prerequisites for obtaining equipment and operation licenses for radio stations are generally more financially attainable in comparison to television stations.This likely explains the notable percentage of ownership in radio stations.

Color vs. Black-and-white Edition
Regarding newspaper production, particularly in terms of color, the data indicates that the majority of newspapers, totaling 58.3%, are printed using a two-color format, while 41.7% are produced in four colors.The newspapers are categorized as either two-colored or four-colored in their printing (see Table V).
Key differences that are evident are centered around the distinction that individual businesses primarily produce two-colored "black and white" newspapers, whereas companies predominantly publish "colored" newspapers.As a result, it becomes evident that individual businesses face limitations in their operations due to their equipment's inability to accommodate the more expensive process of printing-colored newspapers.Another critical aspect concerning regional press newspapers is whether the number of pages remains consistent or varies from day to day.Table VI demonstrates that a minimum of nine out of every ten newspapers report having a stable number of pages per day, which accounts for 95% of cases.Only 5% of newspapers indicate fluctuations in the daily page count.
On average, regional newspapers consist of 20 pages, with a median count of 28.5 pages.Notably, it is evident that 25% of the newspapers with the most extensive content ranged from 24 to 56 pages.In contrast, 25% of newspapers with the least number of pages had up to 16 pages, and the prevalent count was 16 pages.This tendency may be attributed to the requirement that newspapers need to meet a minimum page threshold to be eligible for state listings.
Regarding the page allocation based on the type of business (individual or company), it is observed that newspapers with the highest page counts are predominantly associated with publishers in partnerships.In contrast, individual publishing businesses tend to have a maximum of 24 pages.

Content of Regional Newspapers
Regarding the query about the proportion of news focusing on local matters, the findings shown in Table VII reveal that approximately 43% of newspapers indicated that 60% to 80% of their content pertains to local news.Additionally, a notable 40% of newspapers, which translates to 2 to 5 newspapers, stated that 80% to 100% of their news content is centered around local topics.
In conclusion, the majority of regional press newspapers indeed focus on regional and local reporting, as asserted by their publishers.According to Mpoukoros (2014), the immediacy of local newspapers and the feasibility of analyzing news with local or hyper-local significance present a significant advantage of regional newspapers.This advantage arises from the fact that, for various reasons, coverage of events such as City Council sessions in small towns-where matters of great importance to citizens are discussed-still lacks effective coverage through the internet or television.A regional newspaper remains the primary medium capable of successfully fulfilling this role.

Sources of Information
Given the significant factors that underscore the importance of the regional press, our research delves into the sources of information that underpin the local news presented in regional press newspapers.
Data presented in Table VIII yielded the following results: Out of the respondents, 58 individuals indicated that the primary sources of information for news articles in these newspapers are the reports generated by newspaper journalists.23 respondents identified the internet as a key source, while one respondent highlighted the incorporation of news items from foreign papers or alternative media.Furthermore, four respondents pointed to Greek papers or other media as sources.Among the respondents, 45 confirmed that press releases constitute the main information source for news articles.Collaborations with other newspapers or media outlets were cited by four respondents.Three respondents highlighted foreign press agencies as sources of information, and 14 respondents emphasized that Greek press agencies are the primary source of information for the newspaper's news content.
Print and Online Regional Press: Navigating the Impact of Financial Crisis and Digital Transition

Personnel Composition
In addition to the business decisions and activities undertaken by regional print media publishers, another competitive advantage lies in the composition of the human resources.As a result, this factor has been deemed significant and was investigated in the current study.An analysis of various characteristics was conducted, including employment conditions (full-time or part-time), the percentage allocation across different specialties, the educational level of personnel, and their professional development.
Regarding personnel distribution, data presented in Table IX indicates that over half of the participating publishers (51.7%) reported having a mixed workforce (both full-time and part-time).Furthermore, a notable percentage (41.7%)was dedicated to full-time personnel, while a smaller proportion of publishers (6.7%)-specifically, four out of the sixty-indicated having exclusively parttime personnel.
The primary specialization within print media is journalism.Based on the data provided in Table X, the allocated percentages of journalists among the personnel of participating publishers in the research varied from 10% to 90%.On average, the surveyed publishers employ journalists for approximately 33.72% of their workforce.
Turning to another noteworthy specialization, that of graphic designers, it is evident that percentages span from 10% to 40%.On average, among the surveyed publishers, graphic designers constitute 12.6% of their personnel.The most frequently occurring value, as well as the median, is 10%, indicating that the predominant response is that 10% of the newspaper's personnel are graphic designers.
Shifting focus, the percentages for technicians employed by the newspapers in the research range from 10% to 40%.On average, technicians make up 12% of the personnel among the queried newspapers.
Next, the research turned towards the educational attainment of personnel, conducted in two phases: first encompassing all employees and then exclusively focusing on journalists.The ensuing Table XI results reveal that 56.7% of newspaper personnel possessed a high school diploma or higher level of education.Meanwhile, 13.3% held a high school diploma, and 8.3% had attended a technical school.
Next in line are technical schools, accounting for 11.7% of personnel, while 8.3% indicate that their journalists have a high school education.The optimistic aspect here is that a greater number of journalists possess higher levels of education, which correlates with an elevated standard of the

TABLE I :
Distribution of Newspapers by Legal Structure

TABLE III :
Distribution

TABLE IV :
Distribution of Co-Ownership in Different Types of Media

TABLE V :
Distribution of Newspapers by Color StatePrint and Online Regional Press: Navigating the Impact of Financial Crisis and Digital Transition

TABLE VI :
Distribution of Daily Page Count

TABLE VIII :
Distribution of Primary Information Sources

TABLE IX :
Distribution of Personnel Based on Employment Status

TABLE X :
Percentage Distribution of Personnel by Specialty