France bails out the newspaper industry

On Wedneday I wrote about France's idiotic bailout of the auto industry. But wait! There's more!

Now the French President Nicolas Sarkozy has announced what amounts to a bailout of the country's newspaper industry as well. Here's how it works: The French government is going to help buy every 18-year old a newspaper subscription as a birthday gift. The newspapers will be given away by the publishers while the state "pays for the deliveries." According to the Associated Press, "Sarkozy also announced a ninefold rise in the state's support for newspaper deliveries and a doubling of its annual print advertising outlay amid a swelling industry crisis."

The problem with this whole measure is that vast majority of teens don't want to read a newspaper. They get their news for free on this newfangled device called the internet. Having publishers and the government shell out cash to send them newspapers is a complete waste of time and it diverts resources from what the traditional media really needs to do: adapt to a changing market.

I understand that Sarkozy wants to help the industry buy time. Fine: Why not just cut them a check to invest in moderinzation? Why bog it down with a gimmick like giving newspaper subscriptions to people who don't really want them?