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Keyword: msmdeathwatch

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  • Providence Journal lays off 23 full-time employees

    11/08/2012 11:50:49 PM PST · by My Favorite Headache · 2 replies
    Providence Journal lays off 23 full-time employees PROVIDENCE, R.I. -- The Providence Journal Co. laid off 23 full-time workers Wednesday as part of a cost-cutting effort, including 16 members of the Providence Newspaper Guild and 7 non-union employees. The cutback represents 5 percent of The Journal's workforce. The reductions come about two months after 11 employees accepted a voluntary separation offer. "Given a persistent softness in advertising revenue and the resultant impact on our earnings, it is necessary that we reduce our cost structure," said Howard G. Sutton, publisher, president and chief executive officer, in a statement. "It is always...
  • New York Times plans buyouts

    10/13/2011 10:53:30 AM PDT · by Second Amendment First · 9 replies
    Politico ^ | October 13, 2011 | Brian Stelter
    In a sign of just how bad the advertising climate is once again turning for newspapers, the New York Times announced this morning that it is planning up to 20 buyouts, the first significant reduction in staff since the dark days of 2009. Brian Stelter reports: The reductions, described by the New York Times Company as a rebalancing, were announced to employees on Thursday morning. The company will seek volunteers for buyouts in The Times newsroom, Jill Abramson, the paper’s executive editor, said in a memo to the staff, adding that no newsroom employee would be laid off. She said...
  • The Times’ Paywall and Newsletter Economics (For Dinosaur Media It May Be the End of the Beginning)

    11/25/2010 3:28:44 AM PST · by lbryce · 8 replies
    Clay Shirkey ^ | November 8, 2010 | Clay Shirkey
    In early July, Rupert Murdoch’s News Corporation placed its two London-based “quality” dailies, the Times and Sunday Times, behind a paywall, charging Ł1 for 24 hours access, or Ł2 a week (after an introductory Ł1 for the first month.*) At the same time, News Corp also forbad the UK’s Audit Bureau of Circulations from reporting site traffic*, so that no meaningful measure of the paywall’s effect was available. That situation has now been partially reversed, with News reporting some of its own numbers: they claim 105,000 total transactions for digital content between July and October.* (Several people have wrongly reported...
  • At Flagging Tribune, Tales of a Bankrupt Culture (Dinosaur Media Death Watch)

    10/05/2010 10:03:54 PM PDT · by lbryce · 25 replies · 1+ views
    New York Times ^ | Ocotber 5, 2010 | David Carr
    In January 2008, soon after the venerable Tribune Company was sold for $8.2 billion, Randy Michaels, a new top executive, ran into several other senior colleagues at the InterContinental Hotel next to the Tribune Tower in Chicago. Mr. Michaels, a former radio executive and disc jockey, had been handpicked by Sam Zell, a billionaire who was the new controlling shareholder, to run much of the media company’s vast collection of properties, including The Chicago Tribune, The Los Angeles Times, WGN America and The Chicago Cubs. After Mr. Michaels arrived, according to two people at the bar that night, he sat...
  • CNN admits bias while on the air

    09/30/2010 9:55:22 AM PDT · by pabianice · 25 replies
    CNN News Live | 9/30/10
    This morning, CNN ran with another of its ginned-up stories, this time, once again, slandering the military. The hostess breathlessly reported a "surge in soldier suicides" in the US Army because four (4) soldiers were suspected suicides at one of the Army's largest bases (Texas, I think). Not only was CNN clearly bashing the US military again, but the reporter then ended the piece with, 'We will continue to cover this story, and we will continue to demand the Army change.' Demand the Army change? This is, once again, an anti-military tirade thinly disguised as "news." CNN, you are trash.
  • ABC News to cut half its domestic correspondents, close bricks-and-mortar bureaus [Updated]

    09/07/2010 1:08:58 PM PDT · by OldDeckHand · 87 replies · 1+ views
    LA Times ^ | 09/07/2010 | Matea Gold
    As part of the deep cuts announced this week at ABC News, the network plans to close all of its physical bureaus around the country except Washington and halve the number of its domestic correspondents. ABC News President David Westin confirmed in an interview Friday that the network's ranks of bureau correspondents, which currently number several dozen, would be cut in half and be replaced with "digital" journalists who would be expected to shoot and edit their own stories.
  • Poll: No Support For FTC Proposals To Help News Organizations (Dinosaur Media DeathWatch™)

    06/13/2010 1:45:12 PM PDT · by abb · 26 replies · 744+ views
    Paid Content ^ | June 9, 2010 | Staff
    There’s basically zero popular support for several already unlikely initiatives the FTC is looking into in order to support the “reinvention of journalism.” Rasmussen Reports polled 1,000 people on whether they would support proposals—like a tax on consumer electronics to help news organizations or a taxpayer-funded program to support young journalists through AmeriCorps—and the answer was a decisive no. A monthly tax on cell phone bills? 90 percent no! A tax on consumer electronic devices? 84 percent no! The young reporter program? 70 percent no! A White House commission to help save journalism jobs? 55 percent no! (Via MediaPost) Most...
  • ‘Sunset’ For Print In Five Years, FT Sees (Dinosaur Media DeathWatch™)

    05/26/2010 9:13:00 AM PDT · by abb · 32 replies · 683+ views
    Paid Content ^ | May 25, 2010 | Robert Andrews
    For years, even many of us in the online realm had countered digital prophesies of “the death of print” with cautious reservation. But now - as newsprint costs rise, digital operations grow their importance to publishers and driving delivery trucks around the place begins to seem anachronistic - printing on paper may increasingly look like just another cost that, soon, could be removed from the balance sheet. The Financial Times is amongst those seriously preparing to switch off printing presses, parent group Pearson’s director of global content standards Madi Solomon told me during a panel at the E-Publishing Innovation Forum...
  • Seattle News Director Quits, Assignment Editor Fired

    05/14/2010 7:40:32 AM PDT · by Rebelbase · 16 replies · 944+ views
    Heads Roll at Station That Failed to Air Video The Seattle news director whose station turned down the video of a police beating resigned, and an assignment manager has been fired, Seattle news organizations reported on Thursday. “I want to let you all know today is my last day here at Q13 FOX. As the leader of this newsroom, I feel that under the circumstances it’s best for me to step aside. I don’t want to allow the issues of the past week to be a distraction to the news staff,” News Director Steve Kraycik wrote in his resignation letter,...
  • Merged Honolulu Star-Advertiser Begins June 7 : As Many As 400 People Will Be Laid Off

    05/13/2010 8:05:11 AM PDT · by george76 · 6 replies · 260+ views
    KITV4 ^ | May 12, 2010 | Keoki Kerr,
    The merged Honolulu Star-Advertiser debuts June 7, with nearly 400 people losing their jobs in the process, according to the publisher of the combined newspaper. The last day that both The Honolulu Advertiser and the Honolulu Star-Bulletin will publish separately will be Sunday, June 6... The Star-Bulletin purchased The Advertiser from the Gannett Co. and Francis said he expects to hire about half of the Advertiser's 580 employees, meaning about 290 Advertiser workers will lose their jobs in the merger. The Advertiser, one of Gannett’s larger newspapers with a daily circulation of about 130,000, was founded in 1856 and purchased...
  • A bailout for news? (Dinosaur Media DeathWatch™)

    04/12/2010 6:06:28 AM PDT · by abb · 30 replies · 546+ views
    St. Petersburg Times ^ | April 11, 2010 | Eric Deggans
    For most old-school journalists, the equation is simple. Public disdain for reporters — ranked slightly above used car salesmen in one public poll — combined with a need to stay independent from the government as watchdogs, equals a situation where we can't take money from the government to survive. But there are some other numbers to consider: 5,900 full-time newspaper journalism jobs disappeared last year, according to the Project for Excellence in Journalism, with one-third of newspaper newsroom jobs gone since 2001. Newspaper advertising revenue dropped 22 percent in 2009, according to the PEJ. The historic way of funding great...
  • CNN Plummets, Hosts Lose Nearly Half Their Audiences

    03/30/2010 9:55:13 PM PDT · by advance_copy · 89 replies · 3,124+ views
    CNN’s most popular hosts have lost nearly half their audience over the last year in precipitous falls that have affected the entire network. In February, the network came in last place among the cable news nets, trailing not only Fox News and MSNBC, but also behind HLN (formerly Headline News) and CNBC, reports The New York Times. The first quarter of 2010 was Larry King’s worst quarter ever, with his audience down 43%, to 771,000 viewers, for the quarter and down 52% for the month of March. In the same quarter in 2009, Larry King’s show had 1.34 million viewers....
  • Los Angeles Times to close Orange County printing facility

    01/07/2010 12:42:50 PM PST · by BurbankKarl · 10 replies · 562+ views
    LA TIMES ^ | 1.7.10 | Walter Hamilton
    The Los Angeles Times is closing its printing facility in Orange County to cut costs. In a memo to employees, Times Publisher Eddy Hartenstein said the paper will generate "substantial savings" by consolidating its printing operations at one facility in downtown Los Angeles.
  • 14,861+ jobs - 2009: Layoffs and buyouts at U.S. newspapers (Dinosaur Media DeathWatch™)

    01/02/2010 6:54:10 AM PST · by abb · 9 replies · 592+ views
    Paper Cuts ^ | January 1, 2010 | Erica Smith
    2009 by the numbers As of Dec. 31, 2009. Data will continue to be updated as I get new information. 584 Number of newspapers that laid off employees in 2009. Does not include corporate/non-newspaper specific layoffs (Associated Press, Dow Jones Co., Gannett Co. Inc., GateHouse Media News Service, Lee Enterprises, McClatchy Interactive, Media General Washington bureau and Sun Newspapers). 40.7 Average number of newspaper layoffs per day, including weekends and holidays. In 2008, 44 newspaper employees were laid off each day. 153 Number of “unknown” layoff posts. Assuming each entry results in 1 layoff, the 2009 layoff total would be...
  • CHART OF THE DAY: The End Of Newspapers (Dinosaur Media DeathWatch™)

    12/31/2009 7:18:54 AM PST · by abb · 31 replies · 1,229+ views
    Silicon Valley Insider ^ | December 30, 2009 | Jay Yarow and Kamelia Angelova
    Newspapers had a nice run from the 1970s to the 1990s. Unfortunately, as this chart from the Bureau of Labor Statistics makes clear -- by way of Marketwatch -- it's over. Newspaper employment has utterly collapsed in the last 15 years, with employment numbers now around where they were in the mid-1950s. The good news: It's a great opportunity. The next decade will give birth to new forms of reporting, more in tune with today's technology and news consumption habits.
  • Newsweek Dies (Dinosaur Media DeathWatch™)

    12/29/2009 7:19:47 AM PST · by abb · 84 replies · 2,990+ views
    Newser.com ^ | December 12, 2009 | Michael Wolff
    Less than a year ago, during yet another public discussion about the future of traditional media, I said that it seemed extremely unlikely that, for instance, Newsweek would last another five years, provoking guffaws among blogger types and stout denials from the magazine (i.e. a minor kerfuffle). Newsweek and its parent, the Washington Post Co., announced yesterday a significant cut in its rate base, a further round of buyouts and layoffs, and a plan to make an already anorexic magazine even thinner. The Washington Post Co., for good measure, added its own bad news and bleak outlook. My prediction about...
  • “Real” News Media to Be Defined by Law

    12/06/2009 10:03:03 AM PST · by John Semmens · 50 replies · 1,651+ views
    A Semi-News/Semi-Satire from AzConservative ^ | 5 December 2009 | John Semmens
    Concerned that “casual” and “irregular” so-called journalists are “confusing” the American people. Senators Diane Feinstein (D-Calif.) and Dick Durbin (D-Ill.) have introduced legislation that attempts to “draw the line between legitimate and illegitimate purveyors of news.” The legislation, Senate Bill 448, would define a legitimate journalist as a person working as a salaried employee of, or independent contractor for, a recognized publisher or broadcaster of news. Those falling outside this definition would be denied the privileges granted to established news media under freedom of the press. “The American people need to be protected from being misled by unauthorized sources,” Feinstein...
  • New York Times Likely to Lay Off Staff (Dinosaur Media DeathWatch™)

    12/05/2009 4:26:37 AM PST · by abb · 21 replies · 939+ views
    The Wall Street Journal ^ | December 4, 2009 | Russell Adams
    The New York Times on Friday said it probably will have to lay off newsroom employees, because it doesn't expect to get enough people to volunteer for buyouts. The paper in October announced plans to shed 100 jobs from its 1,250-person newsroom and said it hoped to achieve the reductions entirely through buyouts. Employees were told they had until Dec. 7 to decide whether to take the offer and that the paper would resort to layoffs if too few people volunteered. "We will not know until [Monday] how many Guild and excluded employees have opted to take buyouts, but it...
  • New York Times News Service To Cut Jobs and Relocate [to NON-union shop]

    11/12/2009 7:01:39 PM PST · by NativeNewYorker · 13 replies · 937+ views
    ny times ^ | 11/12/09
    The New York Times News Service will lay off at least 25 editorial employees next year and will move the editing of the service to a Florida newspaper owned by The New York Times Company, the newspaper and the Newspaper Guild said Thursday... The plan for the news service calls for The Gainesville Sun, whose newsroom is not unionized and has lower salaries, to take over editing and page design. Ms. McNulty said new jobs would be created at The Sun to handle the work.
  • Time Inc. will be serving layoffs for holidays (Dinosaur Media DeathWatch™)

    10/28/2009 6:39:33 AM PDT · by abb · 73 replies · 2,030+ views
    New York Post ^ | October 28, 2009 | Keith J. Kelley
    Time Inc. is bracing for another round of cutbacks. Sources say the layoffs will be most severe in the division that includes Fortune, Sports Illustrated, Time and Money, and will be carried out before the Thanksgiving break. Since many of the old-line titles at Time Inc. are covered by union contracts with the Newspaper Guild, the company will likely have to offer voluntary buyout options as part of the downsizing. Time is running out if it hopes to complete the layoffs and write off the costs in the fourth quarter. Ann Moore, CEO of Time Inc., personally took over supervision...
  • Ann Arbor News to close in July

    03/23/2009 7:35:50 AM PDT · by Darren McCarty · 20 replies · 497+ views
    The Ann Arbor News will close in July and will be replaced by a Web-based, media company called AnnArbor.com, Laurel Champion, publisher of The News, announced in a 9 a.m. meeting with staff. "While this is an incredibly difficult decision for us, this is by no means the end of local journalism in Ann Arbor," Champion said. Champion described AnnArbor.com as an innovative, community news and information service. AnnArbor.com also will produce a twice-a-week newspaper, published on Thursday and Sunday and a total-market coverage product once a week. The Ann Arbor News will continue publishing a daily newspaper through July,...
  • First of the Border Newspapers to Close Down

    01/20/2009 12:53:11 PM PST · by radar101 · 11 replies · 393+ views
    The Border Reporter ^ | Jan 20, 2009 | Michel Marizco
    The Tucson Citizen, Arizona’s oldest newspaper, is going to close down by March 21 unless a buyer is found before then. And frankly, nobody’s buying newspapers these days. The Gannett-owned newspaper is run under a joint operating agreement with the Arizona Daily Star and is the first U.S.-Mexico border newspaper to announce its impending demise. Three other newspapers along the border have cut back operations, laid employees off and cut back benefits in an attempt to save themselves. This morning, the San Antonio Express-News announced it’s going to offer employees a one year unpaid leave of absence, institute a hiring...
  • When Newspapers Are Gone, What Will You Miss?

    01/15/2009 10:21:30 AM PST · by Diana in Wisconsin · 72 replies · 873+ views
    Seth Godin's Blog ^ | January 15, 2009 | Seth Godin
    When newspapers are gone, what will you miss? Years and years after some pundits began predicting the end of newspapers, the newspapers themselves are finally realizing that it's over. Huge debt, high costs, declining subscription rates, plummeting ad base--will the last one out please turn off the lights. On their way out, though, we're hearing a lot of, "you'll miss us when we're gone..." laments. I got to thinking about this. It's never good to watch people lose their livelihoods or have to move on to something new, even if it might be better. I respect and honor the hard...
  • Seattle P-I put up for sale

    01/09/2009 4:38:06 PM PST · by Baladas · 29 replies · 912+ views
    Seattle P-I ^ | January 9, 2009 | DAN RICHMAN AND ANDREA JAMES
    The Seattle P-I is being put up for sale, and if after 60 days it has not sold, it will either be turned into a Web-only publication with a greatly reduced staff or discontinued entirely. "One thing is clear: at the end of the sale process, we do not see ourselves publishing in print," said Steven Swartz, president of the Hearst Corp.'s newspaper division. Swartz addressed the P-I's newsroom at about noon Friday, flanked by P-I editor and publisher Roger Oglesby and Lincoln Millstein, Hearst's senior vice president for digital media. Swartz said the reason for offering the paper for...
  • 2008: Signs of the (L.A.) Times (Dinosaur Media DeathWatch™)

    01/04/2009 6:10:54 AM PST · by abb · 10 replies · 884+ views
    LA Observed ^ | January 3, 2009 | Kevin Roderick
    Everyone in power at the Los Angeles Times vowed that 2008 would be the year the paper stopped making news for the wrong reasons — remember how unbelievable 2007 seemed? — and rebuilt its reputation as a top-tier U.S. newspaper. Then Sam Zell came along, followed by yet another change in publisher and editor, the greatest shedding of talent in the paper's history, and more national attention for reasons other than good journalism: one of the most embarrassing retractions ever, the killing of Book Review, Opinion, Real Estate and the Los Angeles Times Poll, waves of emotional farewells, worst in...
  • NYT): Bend Over Shareholders, Here Comes The Dilution (Staff cuts of 40% needed?)

    12/31/2008 7:28:07 AM PST · by jimbo123 · 25 replies · 711+ views
    Silicon Alley Insider ^ | 12/30/08 | Henry Blodget
    New York Times (NYT) management is finally taking the steps necessary to try to save the company. Several years too late? Yes. But better late than never. First, the company announced plans to sell its headquarters, which should bring in $250 million. Then it began actively shopping the Boston Globe and Red Sox stake, which might bring in another $250 million (if it can find anyone to buy them). Now it has filed a shelf registration with the SEC to permit it to issue a variety of different securities when it feels like it. -snip- In our opinion, this plan...
  • McClatchy Employees Cheer Iraqi Shoe Tosser as Stock Plunges 99%

    12/25/2008 3:47:53 PM PST · by PJ-Comix · 42 replies · 2,715+ views
    NewsBusters ^ | December 25, 2008 | P.J. Gladnick
    Employees of McClatchy publishing in Iraq were in an unually good mood recently. The occasion was the aftermath of the Iraqi journalist who tossed his shoes at President Bush at a press conference in Baghdad as you can see in these quotes from Inside Iraq, a blog for McClatchy journalists working in that country: Some of the guys were happy and they were talking about the bravery of the journalist who threw his shoes at the American president. When I tried to explain my opinion, I was trying to tell the guys that I don't agree with the way the...
  • NY Times: Nov. Was So Terrible, Even Our Internet Ads Were Down (Dinosaur Media DeathWatch™)

    12/24/2008 6:12:18 AM PST · by abb · 62 replies · 2,060+ views
    Earlier this month, executives at the New York Times (NYT) warned investors that they had a miserable November. They weren’t kidding. The grim details are here, but I’ll save you some time: * Revenue was down 13.9%, an acceleration from October’s 9.4% drop. * Ad revenue was down 20.9%, an acceleration from October’s 16.2% drop. * The really awful news: Internet ad revenue and overall Internet revenue actually declined in November, down 3.8% and 2.6%, respectively. In the good old days of 2007, the Times could at least say that while print revenue growth was slowing to a halt, Internet...
  • McClatchy-owned Seattle Times orders 500 to take week off without pay

    12/19/2008 1:43:03 PM PST · by sionnsar · 18 replies · 746+ views
    The Seattle Times is asking 500 managers and non-union workers to take a week off without pay. The McClatchy Co. has a 49.5 percent stake in the Times. In a story on the Times’ Web site, company spokeswoman Jill Mackie says workers can take the time off in a weeklong chunk or a day at a time between now and February, adding that she didn’t know how much money the move would save. In November, The Times announced plans to cut its staff by 130 to 150 workers, another grim reminder of the daily newspaper’s financial struggles. “As difficult as...
  • Seattle Times puts some new land up for collateral (Dinosaur Media DeathWatch™)

    12/08/2008 7:51:09 PM PST · by sionnsar · 22 replies · 614+ views
    Crosscut ^ | 12/08/2008 | Bill Richards
    In a move that was not wholly unexpected, the financially struggling Seattle Times said Sunday, Dec. 7, that to cut expenses it plans to immediately shrink its current four daily newspaper sections to three, eliminating a number of daily features, including the New York Times crossword puzzle and daily television listings. “I am in the truth-telling business,” Executive Editor David Boardman said in a signed column in the Times. “We are making these changes because we are reducing our two biggest newsroom expenses: staff and newsprint.” The Seattle Post-Intelligencer echoed the move by also downsizing today to three sections to...
  • Tribune Prepares for Bankruptcy Filing

    12/07/2008 3:23:33 PM PST · by Erik Latranyi · 137 replies · 5,258+ views
    Wall Street Journal Online ^ | 7 December 2008 | N/A
    Tribune Co. is preparing for a possible bankruptcy-protection filing as soon as this week, according to people familiar with the matter, opening a new front of trouble for the newspaper industry. As Tribune continues discussions with its lenders to rework its debt load, the newspaper-and-television concern in recent days ...
  • Media Companies Cull 30,000 in Fight for Their Future (Dinosaur Media DeathWatch™)

    12/07/2008 2:59:23 PM PST · by abb · 29 replies · 1,048+ views
    Advertising Age ^ | December 8, 2008 | Michael Learmonth
    Call it the big shrink. Citing the effects of a recession that's prompting marketers to trim budgets and the number of media outlets they work with, media companies are shedding jobs at a furious rate. But the deep cuts they're making are as much about these conglomerates shedding their old media models as they are about the economy. Viacom and NBC Universal swung the ax last week, eliminating 850 and 500 jobs, or 7% and 3% of their work forces, respectively. Add that to 600 job cuts at Time Inc., 1,500 at Yahoo, 1,800 at Gannett, hundreds at CBS's radio...
  • Paper Chase: Newspaper Revs Down 18.1% In 3Q

    12/01/2008 5:38:52 PM PST · by My Favorite Headache · 12 replies · 407+ views
    Media Post ^ | 12-01-2008 | Erik Sass
    Paper Chase: Newspaper Revs Down 18.1% In 3Q Newspaper revenues dropped by almost one-fifth in the third quarter compared to the same period last year, according to the Newspaper Association of America, which posted the disastrous quarterly results on its Web site last week. These grim tidings hint that an even worse fourth quarter may be on the way, making 2008 the worst year for newspapers in decades. Total print and online ad revenues fell 18.1% to $8.94 billion. Print revenues continued their long, accelerating decline--tumbling 19.3% to $8.19 billion. Online ad revenues experienced their second quarterly decline in a...
  • The Newspaper Guild at The Baltimore Sun Reports More Layoffs To Come

    11/14/2008 8:44:11 PM PST · by MovementConservative · 22 replies · 755+ views
    Scribd ^ | November 13th 2008 | The Newspaper Guild
    The Washington=Baltimore Newspaper Guild, which represents workers at The Baltimore Sun, reported today that the company will be announcing more layoffs in the near future.
  • New York Times Stock (NYT) poised to close below historic low of $8.12 (its $7.71 at close!)

    11/12/2008 1:02:28 PM PST · by DCBryan1 · 150 replies · 2,713+ views
    CNBC ^ | 12 NOV 08 | dcbryan1
    Price: $7.68 Last 0.59-7.04% Today’s Change 8.27 Today’s Open $8.29 Day High $7.79 Day Low $7.68 Volume 717,036
  • Tribune Company Loses $121 Million

    11/10/2008 8:01:59 PM PST · by Nachum · 29 replies · 217+ views
    New York Times ^ | 11/10/2008 | ap
    CHICAGO (AP) — The Tribune Company, owner of newspapers including The Los Angeles Times and The Chicago Tribune, along with the Chicago Cubs and Wrigley Field, said Monday that it lost $121.6 million in the third quarter as newspaper advertising revenue fell. The company, which is privately held, had net income in the comparable quarter a year earlier of $152.8 million. Revenue fell 10.5 percent, to $1.04 billion, from $1.16 billion a year ago, the company said.
  • NYT Co. Takes $166 Million Charge on New England Properties (Dinosaur Media DeathWatch™)

    11/10/2008 1:46:40 PM PST · by abb · 20 replies · 387+ views
    Editor & Publisher ^ | November 10, 2008 | Staff
    The New York Times Co. has increased its estimates for how much The Boston Globe and other New England newspapers it owns have declined in value because of reductions in advertising. The Times took a $166 million accounting charge in the third quarter and said any adjustments to that estimate will come in the current quarter. In releasing preliminary third-quarter results last month, the Times estimated the charge at $100 million to $150 million. With the change and related tax adjustments, the Times had a net loss of $106 million, or 74 cents a share, in the third quarter, compared...
  • Desperate times in the newspaper business lead to drastic measures (Dinosaur Media DeathWatch™)

    11/09/2008 12:35:11 PM PST · by abb · 30 replies · 239+ views
    Ft. Worth Star Telegram ^ | November 9, 2008 | MITCHELL SCHNURMAN
    The Star-Telegram used to be a special business. For decades, the Fort Worth newspaper had some of the strongest numbers anywhere, stoked by a fast-growth market and big-city competition. With almost 400 journalists at its peak, it staffed one of the largest newsrooms for a paper its size and had a fat news hole for stories. Profit margins sometimes hit 30 percent, justifying the large head count and making the Star-Telegram a cash-generating machine. That’s all yesterday’s news. Newspapers across the nation are facing their own economic crisis, and they’ve cut more than 24,000 jobs in the past year. The...
  • Cash Crunch At New York Times (Dinosaur Media DeathWatch™)

    11/10/2008 4:38:04 AM PST · by abb · 65 replies · 721+ views
    Silicon Valley Insider ^ | November 8, 2008 | Henry Blodget
    The New York Times Company's 10Q (NYT) contains more details on the company's cash crunch. Specifically, the company must deliver $400 million to lenders in May of 2009, six months from now. The company has only $46 million of cash on hand, and its operations will likely begin consuming this meager balance this quarter or next. The company has been shut out of the commercial paper market, but has a $366 million short-term credit line remaining that it entered into several years ago, when the industry was strong. It has not yet drawn this cash down, and given the current...
  • The Newspaper Belongs in the Trash

    11/07/2008 6:16:35 AM PST · by vietvet67 · 33 replies · 1,867+ views
    The American Spectator ^ | Nov 7, 2008 | Rachel Alexander
    Traditional media outlets are dying and savvy conservative politicians have taken to ignoring them -- or hastening their demise. Instead of subjecting themselves to heavy-handed interviews and biased coverage, Republicans are finding other ways to reach the public with their campaign messages. It's an approach the McCain-Palin ticket may have adopted too late. McCain's campaign manager Rick Davis asked, "Why would we want to throw Sarah Palin into a cycle of piranhas called the news media that have nothing better to ask questions about than her personal life and her children?" In McCain's Arizona, Maricopa County Sheriff Joe Arpaio recently...
  • As Ratings Fall, Networks Take on Ad-Skipping (Dinosaur Media DeathWatch™)

    11/03/2008 4:43:05 AM PST · by abb · 36 replies · 1,090+ views
    Advertising Age ^ | November 3, 2008 | Michael Learmonth
    With DVR penetration knocking on 30%, much of America now views the ability to skip ads on TV as something approaching a birthright. While they haven't had much choice in the matter, the broadcast networks say they're OK with this, that DVR users watch more TV and disproportionately more shows from ABC, NBC, Fox and CBS, which can't be bad, right? But the networks haven't given up on the dream of a world of must-see advertising and are quietly attempting to take back that right -- let's call it a privilege -- on the next generation of digital platforms. Already,...
  • Washington Post Co. Earnings Plummet in Third Quarter

    10/31/2008 3:18:18 PM PDT · by COUNTrecount · 28 replies · 512+ views
    Washington Post ^ | October 31, 2008 | Frank Ahrens
    The Washington Post Co. today reported an 86 percent decline in third-quarter earnings compared with the same period last year, as a significant loss at the flagship newspaper offset gains at the company's education and cable divisions. For the quarter, The Post Co. had net income of $10.3 million ($1.08 per share) on $1.1 billion in revenue, compared with net income of $72.5 million ($7.60) on $1 billion in revenue in 2007. The company's newspaper division -- which includes The Post, the Everett (Wash.) Herald and several community papers -- reported an operating loss of $82.7 million for the quarter,...
  • Washington Post Co. Profit Plummets in Third Quarter (Dinosaur Media DeathWatch™)

    10/31/2008 6:54:20 AM PDT · by abb · 41 replies · 567+ views
    The Washington Post ^ | October 31, 2008 | Frank Ahrens
    The Washington Post Co. today reported an 86 percent decline in third-quarter earnings compared to the same period last year, as a significant loss at the flagship newspaper offset gains at the company's education and cable divisions. For the quarter, The Post Co. had net income of $10.3 million ($1.08 per share) on $1.1 billion in revenue, compared to net income of $72.5 million ($7.60) on $1 billion in revenue in 2007. The company's newspaper division -- which includes The Post, the Everett (Wash.) Herald and several community papers -- reported an operating loss of $82.7 million for the quarter,...
  • Time Inc. Plans About 600 Layoffs (Dinosaur Media DeathWatch™)

    10/28/2008 3:47:57 PM PDT · by abb · 40 replies · 785+ views
    The New York Times ^ | October 28, 2008 | Tim Arango
    Time Inc., the world’s largest magazine company, is set to announce a revamping that will result in job cuts of 6 percent — more than 600 positions — and a reorganization that could radically alter the culture at the venerable publishing house. The company plans to reveal the overhaul in a memorandum Tuesday evening from Ann S. Moore, Time Inc.’s chairman and chief executive, and the layoffs will begin in about two weeks. No magazines are scheduled to close, but some are likely to be severely cut back. Ms. Moore was already planning an overhaul because of the upheavals in...
  • Rolling Stone Rocked With Layoffs (Dinosaur Media DeathWatch™)

    10/28/2008 8:39:58 AM PDT · by abb · 45 replies · 710+ views
    Media Week ^ | October 27, 2008 | Lucia Moses
    With ad pages down across the magazine industry, Rolling Stone publisher Wenner Media has become the latest publishing company to swing the ax. Sources said the company let go at least seven employees over the past few days, including a handful of people in the corporate marketing department. The cuts represent a little less than 2 percent of the company’s 400 full-timers. Wenner follows Hearst Magazines, Time Inc.’s Southern Progress Corp. unit and Mansueto Ventures, which also have cut staff in recent weeks. The cuts at Wenner come as Rolling Stone faces a 18.3 percent decline in ad pages to...
  • UPDATE 1-S&P slashes New York Times rating to junk

    10/24/2008 4:37:43 AM PDT · by AmericanMade1776 · 28 replies · 586+ views
    Reuters ^ | Oct 24,2008
    Standard & Poor's on Thursday slashed its ratings on the New York Times Co (NYT.N: Quote, Profile, Research, Stock Buzz) into junk territory and cited concerns about the newspaper publisher's revenue outlook, after it posted a third-quarter loss. Moody's Investors Service also said it may follow the move, adding the publisher faces risks in refinancing its debt. The New York Times posted a quarterly loss from continuing operations on Thursday and said advertising revenue at its news media group dropped 16 percent for the quarter. For details, see [ID:nN23398087]
  • NYTimes profits slide; S & P downgrades credit rating

    10/23/2008 4:48:51 PM PDT · by bamahead · 50 replies · 863+ views
    AFP ^ | October 23, 2008
    The New York Times Co. reported a steep drop in third-quarter profits on Thursday, the latest gloomy earnings report in an industry battered by online competition and falling print advertising revenue. The New York Times Co. said net profit fell by 51.4 percent in the third quarter to 6.5 million dollars, or five cents per share, from 13.4 million dollars, or nine cents per share, in the same period a year ago. The company, which owns About.com, The Boston Globe, International Herald Tribune and 16 other daily newspapers besides the flagship The New York Times, said overall advertising revenue fell...
  • S&P slashes New York Times rating to junk

    10/23/2008 4:23:32 PM PDT · by VOA · 54 replies · 1,249+ views
    Reuters ^ | 10-23-08 | Reuters Staff
    NEW YORK, Oct 23 (Reuters) - Standard & Poor's on Thursday slashed its ratings on the New York Times Co (NYT.N: Quote, Profile, Research, Stock Buzz) into junk territory and cited concerns about the newspaper publisher's revenue outlook, after it posted a third-quarter loss. ...SNIP... It cut the Times' rating three notches to "BB-minus," three levels below investment grade, from "BBB-minus." The outlook is negative, indicating an additional cut may be likely over the next one-to-two years.
  • New York Times Stock below $10! (all-time low)

    10/23/2008 10:33:52 AM PDT · by montag813 · 64 replies · 1,592+ views
    Can't Rush and Sean afford to buy them now?
  • Cokie Roberts: The dark side of media democratization [Free Republic dissed]

    10/18/2008 11:49:07 PM PDT · by Jim Robinson · 141 replies · 3,290+ views
    metrowestdailynews ^ | Oct 19, 2008 | By Cokie Roberts and Steven V. Roberts
    Yada, yada, yada. ~~snip~~ The growing power of rumor is part of a much larger transformation in the way that voters receive information about politics. The old model was a vertical one, where professional journalists delivered their reports to a largely passive audience through television or newspapers. The new model is horizontal, where folks get information from each other and actively pass it on, through e-mail, text messages and viral videos. Everyone is a potential broadcaster. This "democratization of information" has many benefits - more sources, more perspectives, more choices. In a forum Steve moderated for The International Journal of...