Posted on 07/14/2008 12:35:55 PM PDT by abb
Los Angeles Times Publisher David Hiller resigned today after a 21-month tenure that included the departure of two Times editors and plans for the sharpest staff and production cuts in the newspaper's history amid a continuing slide in advertising revenue.
Tribune Co. -- which owns The Times and other media assets, including the Chicago Tribune and KTLA-TV Channel 5, and the Chicago Cubs baseball team -- named no successor to Hiller.
Hiller was the third Times publisher named since the newspaper was acquired in 2000 by Chicago-based Tribune. He succeeded Jeffrey M. Johnson, who lost his job after publicly resisting cost-cutting measures ordered by the parent company in October 2006. One month later, Hiller asked Editor Dean Baquet, who had joined with Johnson in opposing the cutbacks, to resign.
Baquet was replaced by James O'Shea, a longtime editor at the Chicago Tribune. O'Shea resigned his post in January, also in protest of cuts ordered by corporate management.
By then, ownership of Tribune Co. had changed hands. The company was taken private in December in a transaction led by Chicago entrepreneur Sam Zell. The new management has struggled to maintain cash flow at the company's 11 daily newspapers and 23 television stations amid a sharp nationwide slowdown in advertising, a crucial measure given its high leverage: The company's annual debt payments are close to $1 billion.
Tribune's planned sale of the Cubs and its landmark ballpark, Wrigley Field, is expected to fetch more than $1 billion when they are sold, probably later this year. A $650-million sale of the company's suburban New York daily newspaper, Newsday, is pending. Proceeds of both transactions are likely to be used to pare debt.
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(Excerpt) Read more at latimes.com ...
ping
Wow! 2 in one day. Sam must be kickin a$$ and takin names.
One would think that it would dawn on the elite commie/leftists in the print media that the majority of their followers don’t (or should I say can’t) read newspapers.
OOOHHHHHH...... I am “deeply saddened” as Harry Reid likes to say...... another MSM dinosaur teetering on the brink of collapse, how sad. :^)
http://recoveringjournalist.typepad.com/recovering_journalist/2008/07/dropping-like-flies.html
Dropping Like Flies
It’s an axiom of sports that baseball team managers are hired to be fired. Turn in a couple bad seasons, or go on a losing streak, or run afoul of your owner, and you’re outta there,
Lately, the job security for newspaper publishers and editors seems to be almost as bad. Today’s victim is Chicago Tribune Editor Ann Marie Lipinski, who wasn’t fired, but clearly decided she’d had enough of owner Sam Zell and his Zellots running roughshod and making changes to her paper faster than she wanted to. Her departure follows the recent early retirement of Tribune Publisher Scott C. Smith; the resignation of Wall Street Journal Managing Editor Marcus Brauchli, who’s now replacing retired Washington Post Executive Editor Len Downie; and the firing a few months ago of Los Angeles Times Editor Jim O’Shea–who followed various other editors and publishers out the door in L.A. over the past couple of years, with Times Publisher David Hiller is rumored to be gone any day now. Plus the firings, resignations and retirements of so many other editors and publishers lately that it’s hard to keep track of them all. It’s been a real bloodbath.
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I hear tell that pegging his politics is dificult but you can be dang sure he’s a Capitalist! (Which means he’s ^probably^ a conservative...)
‘Tis always a pleasure to read good news buried amidst the bad. The LA Times was a joke when I lived in CA years ago, and it’s steadily gotten worse. Perhaps they should go to the only format understandable by the Hollywood crowd: comics. The editorial section can be one pane on one page. The rest will be their normal lies.
Zell is a remarkable guy - blunt, smart as hell, great instincts. He’s going to make lots of heads roll in that hell hole.
As some other freeper often wrote: BIAS = LAYOFFS.
I can’t keep track anymore!
http://www.laobserved.com/archive/2008/07/for_lease_one_newspaper.php
Staffers at the Daily News came to work today to find a new sign up in front of the building on Oxnard Street. It was previously announced that the plant has been sold and the paper is moving to rented office space elsewhere in Woodland Hills
Any publisher that doesn't "get" the concept that newspapers need MORE readers not fewer journalists, should quit.
"We're standing in front of this new medical center so people can see that they have enough money to build this multi-billion dollar medical center but we can't get a raise," said Tyrone Shoelaces, 40, a food service worker who said he is forced to work a second job at Target to make ends meet.
Why spend a quarter and get black ink on your hands when you can get the recommended daily dose of leftist bias on CNN or MSNBC all day, every day for a small monthly fee??!!
Relish the schadenfreude now as it could well be short-lived.
As Leftist “Progressive” thought is ever more widely rejected, “Progressives” have openly gained control of the GOP (over the last 8 years like never before) by marginalizing traditional rightists from party leadership.
Never forget that individual “Progressives” are committed with defending their own (like the L.A. Times) as long as revolt can be kept from their own doors. “Progressives” have long endured to trouble us another day.
They survive with words disguised as compromise. They purport to “wisely” preserve the status quo, but aim to retain their latest ill-gotten powers.
Where issues like illegal aliens and AGW can be spun as “established,” too may “conservatives” are turned into useful idiots as ever any liberal. See my tagline.
-Av
Part of newspapers getting more readers (rather than just dumping journalists) - is for them to stop giving the finger to the half of the populations that's conservative.
Think of it as step 1 - like if you want to put out a fire, step one is to stop pouring gasoline on it...
Too many of the editorial staff are flaming gaily to even contemplate such an option.
Capitalists are often socialists and becoming more and more socialists. Government money and special favors goes to big companies.
“Capitalists are often socialists”
No, actually, rich people can become socialist because they can afford it. Socialism and capitalism are opposing forces; as simple as “unstoppable force” v. “immovable object”.
What the commies are doing to the newspapers is what they will do to the country.
I used to think that as well.
It was true at one time. Now that government is so large and encompassing large business (not small) learn to use government advantages as leverage to weed out the competition or take advantage of markets that wouldn't ordinarily be available to them. Such as 'free trade' deals that are taking place.
If they were really just free trade they wouldn't need government help to enter the markets they are really insurance deals for large business to secure the investments at the tax payers expense.
Hey Tyrone Shoelaces......
A building is a depreciable asset. A service worker is merely a commodity.
Tyrone Shoelaces is a Cheech and Chong skit!
You describe a socially-capitulated “capitalism” which is no capitalism at all. Just socialism using the phrase-word of capitalism to justify itself.
I guess that is true. But that is what about 1/3 of the republican party is. that is how we got McCain.
http://www.laobserved.com/archive/2008/07/confirmed_hiller_out_as_t.php
L.A. Times layoffs begin today • Today’s Blog • For lease: one newspaper »
Confirmed: Hiller out as L.A. Times publisher *
Kevin Roderick • Bio • Email
Randy Michaels note to Tribunistas:
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http://www.tellzell.com/2008/07/black-monday.html
Monday, July 14, 2008
Black Monday
Russ Stanton has just announced that the firings will commence immediately. As in today. He says the best way to “honor” our colleagues is to stay focused on our work.
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http://marccooper.com/the-times-they-are-a-sinkin/
The Times They Are A Sinkin’
God. So many of us can see several of the little things that are undermining the one party that is allegedly anti-statist. But most of us LIKE some of them.
Convincing ever more of us to sacrifice our little interests for the sake of downsizing government is what makes a good leader. But those who currently control the GOP are dangerous. They too much like the status quo and its trend. Hence any leader who might upset their applecart is not only NOT their choice, he is their TARGET.
Carefully consider that conservatism has a dual nature. The currently empowered side (Left and Right reactionaries) cares more about keeping what it now has than fighting off threats to liberty and restoring constitutional limits.
http://www.editorandpublisher.com/eandp/news/article_display.jsp?vnu_content_id=1003827377
Wall Street Beats Up GateHouse Again
By Mark Fitzgerald
Published: July 14, 2008 4:49 PM ET
CHICAGO Shares of GateHouse Media Inc. plunged nearly 14% to a new all-time low Monday, the third consecutive trading session of double-digit declines for the community newspaper publisher.
GateHouse (NYSE: GHS) ended at $1.38, off 22 cents, or 13.92% on volume that was more than twice normal trading. Coming into Monday, GateHouse had traded in a 52-week range of $1.55 to $19.
No market-moving news or commentary was reported during the day.
Another big loser on the day was the lightly traded Journal Register Co. (JRCO.PK), whose price on the Pink Sheets fell 2 cents, or 13.33%, to 13 cents, a penny above its all-time low.
It was a mixed day for the rest of the newspaper sector, with gains by Media General Inc.; Lee Enterprises Inc.; and E.W. Scripps Co.
Decliners included Gannett Co. Inc.; The McClatchy Co.; The New York Times Co.; A.H. Belo; and The Washington Post Co.
Mark Fitzgerald (mfitzgerald@editorandpublisher.com) is E&P’s editor-at-large.
Their comments re: the late Tony Snow were way past crude and, in fact, just plain EVIL.
I hate to say it but the left is becoming more and more evil and mean spirited. Soon, I hope, they will die in their own hate derived vomit. And good on ‘em.
The left is not deserving of a place in civilized society.
Taliban 2!
MANNN LA TIMES getting kill over this editor resignation now Chicago Tribune editor resign too
http://www.laobserved.com/archive/2008/07/hillers_gracious_exit.php
Hiller’s gracious exit *
Kevin Roderick
The company line, and what the Los Angeles Times reported as confirmed news on its website, is that David Hiller resigned as publisher. Now here’s what he says:
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http://www.nytimes.com/2008/07/15/business/media/15paper.html?ref=business
Two Leaders to Step Down at Tribune Newspapers
Los Angeles Times Publisher David Hiller resigns
Hiller announced his resignation from the paper today. Hiller's 21-month tenure was marked by plans for the sharpest staff and production cuts in The Times' history. No successor is named.
http://www.editorandpublisher.com/eandp/news/article_display.jsp?vnu_content_id=1003827550
Vertis Files Chapter 11, Will Merge With Competitor
By Mark Fitzgerald
Published: July 15, 2008 10:54 AM ET
CHICAGO Vertis Communications, the big newspaper insert and direct-mail printer, said Tuesday it has filed for Chapter 11 bankruptcy — with a prepackaged reorganization plan that will allow it to consummate its previously announced merger with competitor American Color Graphics.
Vertis said the plan received strong support from its noteholders, with 100% of holders of mezzanine and senior subordinated debt approving the plan, and 98.3% of holders of senior notes approving.
American Color Graphics also commenced voluntary Chapter 11 proceedings with its own prepackaged plan. The company said more than 95.3% of noteholders had voted to approve the plan.
Vertis said the plan will reduce debt of the combined companies by $1 billion, and that it expects all allowed claims of trade creditors to be paid in full.
“The restructuring under the plan will allow the company to dramatically reduce debt and interest cost, complete its reorganization and merger in just a few short months, and refocus investments into the business,” Vertis Chairman and CEO Mike DuBose said in a statement.
DuBose said the merger should be completed by the end of the summer.
The agreement merges two of the largest printing and premedia companies in North America. Vertis said under the merger, the new companiy will be able to offer “an unprecedented scope of premedia and workflow solutions to their customers,” in addition to continuing its insert manufacturing.
As previously announced, Vertis has obtained $380 million in debtor-in-possession financing from GE Commercial Finance.
It said the financing will provide the company with sufficient liquidity until the prepackaged plan is consummated. Vertis said it has also obtained commitments for $650 million in exit financing, consisting of $250 million from GE and a $400 million from Morgan Stanley Senior Funding Inc.
Mark Fitzgerald (mfitzgerald@editorandpublisher.com) is E&P’s editor-at-large.
http://www.tellzell.com/2008/07/list_15.html
Tuesday, July 15, 2008
The List
Below is an unconfirmed list now circulating in the newsroom of about 80 people leaving the Los Angeles Times. The list includes both people taking a buyout and people who are being fired. If you see an error, or you want your name off, message me at inkstainedretch (at) gmail.com. I promise to quickly and anonymously remove it.
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http://www.foliomag.com/2008/confirmed-hollywood-reporter-lays-12
Hollywood Reporter Lays Off 12
Part of Nielsen Business Media’s ongoing ‘reengineering’ effort.
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