No one loves the timing of Xmas as much as the media. With it a week before the end of the year it creates a dead zone of focus, where the public doesn't really expect much in the way of reporting. Magazines can fill their pages with recaps of the year that's coming to a close, which they can assemble ahead of time so the staff can take time off. The government takes a break so there's not much to keep tabs on there. The perception is that everyone just wants a pleasant respite from the usual crap for a week or two, which is almost certainly the case.
However, were there not this window created by the proximity of Xmas to December 31 for this collective breather to occur the media might not have this opportunity to fall back on retrospectives and best-of lists. It's not that they wouldn't still do that stuff, but if they had to continue with active reporting during the latter half of the twelfth month they wouldn't be the only cover stories on the newsstands.
Of course, conversely, were it not for the proximity of New Year's Day to Xmas one wonders whether that holiday would be what it is. Okay, let's not even pretend it would be. Having January 1 off would be just another day not at the job if it didn't carry the association with "the holidays," and, most important, with it being the end of that period. After a month of having "the holidays" dominate everything it becomes more necessary than usual to blow off proverbial steam.
It celebrates the return to normal, which is definitely necessary. Something must signal that, okay, really, the decorations need to come down. And you get some college bowl games while enjoying the day off for no other justification than you had to change the calendar.
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