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  • Over 100 Staffers Leave Newsweek

    03/30/2008 4:45:37 PM PDT · by MrEdd · 32 replies · 1,507+ views
    RADAR ^ | 3 30 2008 | Charles Kaiser
    The staff of Newsweek will shrink dramatically, after 111 staffers on its news and business sides accepted a buyout last week. Among those leaving are some of the magazine's best-known, most-admired and longest-service critics, including David Gates, David Ansen and Cathleen McGuigan. Harold Shain, a former president of the magazine who moved over to sister publication Budget Travel at the beginning of this year, is also departing. 146 staffers were offered the chance to leave the magazine, with as much as two years of their current salary as a departing bonus, depending on their age and length of service. The...
  • Gannett Off After Downgrade on Ad Sales (Dinosaur Media DeathWatch™)

    02/04/2008 5:14:32 PM PST · by Milhous · 6 replies · 98+ views
    AP ^ | February 04 2008
    NEW YORK (AP) Gannett Co.'s stock fell Monday as a Bear Stearns analyst downgraded the nation's largest newspaper publisher, citing ongoing advertising revenue softness.Analyst Alexia Quadrani said the McLean, Va.-based company's 14.5 percent decline in December newspaper advertising revenue was a significant slide from the average 4.6 percent dropoff in October and November advertising results. The analyst was also disappointed with USA Today's fourth-quarter ad revenue slide of 12.7 percent and noted that the paper never experienced the ad sales increase in the second half of the year that was predicted. In addition, Quadrani was concerned that the increase in...
  • Inaugurating the New York Times Deathwatch (Dinosaur Media DeathWatch™)

    02/02/2008 8:38:46 AM PST · by Milhous · 6 replies · 249+ views
    Pmarca ^ | February 2 2008 | Marc Andreessen
    [With apologies in advance to Martin Nisenholtz, who I believe is genuinely fighting the good fight, and who will no doubt end up with a great job at some fine Internet company.]The hiring of Bill Kristol was the last straw.I can't take it anymore.I hereby inaugurate my New York Times Deathwatch, which will continue until the last Sulzberger has left the building.Recent dispatches that are fit to print: Leading the way [in terrible end-of-year news from the newspaper industry] was The New York Times Company, where total [quarterly] revenues fell 1.7% to $865.8 million, due mostly to a 4.1% drop...
  • TV REPEATS TURN OFF FANS FEBRUARY 'SWEEPS' TO TAKE HARDEST HIT FROM STRIKE (Dinosaur DeathWatch™)

    01/31/2008 6:44:28 PM PST · by Milhous · 12 replies · 94+ views
    New York Post ^ | January 31 2008 | Holly M Sanders
    ... Primetime ratings for ABC, which aired low-rated repeats of "Grey's Anatomy" and "Desperate Housewives," fell 26 percent among adults aged 18 to 49, a key category for advertisers. CBS, with reruns of "Two and a Half Men," "NCIS" and "CSI," dropped 30 percent in that same category, according to figures from Nielsen. A survey from ad-buying firm Carat found that just 16 percent of primetime viewers said they would continue to watch their favorite TV shows in repeats during the next three to six months. The other 84 percent said they either "would not" or "may not" watch shows...
  • US network ratings slide as writers strike drags on (Dinosaur Media DeathWatch™)

    01/30/2008 5:34:10 PM PST · by Milhous · 14 replies · 106+ views
    Reuters ^ | January 30 2008 | Sue Zeidler
    LOS ANGELES, Jan 30 (Reuters) - The 12-week-old Hollywood writers strike is taking a heavy toll on prime-time viewership with television production largely stopped and the major networks airing more repeats, game shows and reality shows. The five top broadcast networks were down a collective 17 percent for the week ended Jan. 27 in ratings among viewers aged 18 to 49, the audience most prized by advertisers compared with the same week last year, according to Nielsen Media Research. That is a sharp drop from earlier this season, before networks' supply of original sitcom and drama episodes ran dry and...
  • 'You Can't Turn Back the Ocean' (Dinosaur Media DeathWatch™)

    01/29/2008 11:29:52 AM PST · by Milhous · 10 replies · 971+ views
    Reason Magazine ^ | February 2008 | Nick Gillespie
    MTV's Kurt Loder on the delusions of celebrity culture, the coming collapse of mainstream media outlets, and the rising tide of free expression that can't be stopped ... Reason: Major record companies complain they’re losing market share and revenue. Major daily newspapers say the same thing. Broadcast networks still command a huge audience, but it’s much smaller than before. The big outlets don’t seem to have the monopoly on audience they once did. Is the decentralization of audience, of culture, a good thing?Kurt Loder: We’re better off with new technology. Music is proliferating in a way it never has before....
  • Hedge fund seeks board seats at New York Times Company (Dinosaur Media DeathWatch™)

    01/26/2008 9:41:15 AM PST · by Milhous · 11 replies · 302+ views
    American Thinker ^ | January 26, 2008 | Christopher Alleva
    The New York Times and others are reporting that Alabama-based hedge fund gave notice Friday that it would try to elect directors to The New York Times Company board, the company said. Evidently the hedge fund, Harbinger Capital Partners, a part of Harbert Management Corporation, controls less than 5 percent of Times Company stock, as there have been no S.E.C. filings indicating this level of investment.  Haubert is led by Phillip Falcone. Falcone had a stellar year, raking in more than $1.3 Billion betting short on the mortgage meltdown, according to Bloomberg Hedge Fund Research, making him the seconbd highest-paid hedge fund manager...
  • Changes coming to The Orange County Register (dropping Business section)

    01/21/2008 4:17:48 PM PST · by BurbankKarl · 13 replies · 233+ views
    OC Register ^ | 1/18/08 | MARY ANN MILBOURN
    The Orange County Register is moving most of its business news into the main section of the newspaper at the end of January as part of a series of initiatives announced by the company this month. The changes, which will begin Jan. 30, are being made in response to the challenges facing newspapers in this digital age – declining circulation, a loss of advertising, high newsprint costs and an increasing demand for instantaneous access to news. "Shifting our business coverage into News is driven by a need to be more efficient in the type of news we publish in our...
  • Managed Dismantling of a Newspaper (Dinosaur Media DeathWatch™)

    01/17/2008 8:14:39 PM PST · by Milhous · 7 replies · 107+ views
    Promisemedia.com ^ | January 17 2008 | Scott Bateman
    The Chicago Tribune has announced that it is ending help wanted ads on weekdays. In its place will be a section on Tuesdays with basic information and Web IDs that will point people toward online listings in the Tribune’s CareerBuilder section. (The Web ID concept has been used at other newspapers with reportedly mixed results.) What is noteworthy about the announcement is not that a newspaper is dismantling something else within the paper and either sending readers to its Web site or giving up on it altogether. Newspapers have been making such moves aggressively in recent years to cut costs...
  • Many Small Papers Are Tanking As Year Begins (Dinosaur Media DeathWatch™)

    01/12/2008 4:05:46 PM PST · by Milhous · 11 replies · 75+ views
    Take Back the Times ^ | January 12 2008 | Ken Reich
    The way things are going in the newspaper business, it may not be too long before the big papers will be just about the only ones left. Two longtime newspapers have closed since the end of 2006, and many others have undertaken layoffs and other cost-saving measures. In recent years, hundreds of afternoon dailies have vanished, or become morning papers. Here in Southern California, the papers owned by Dean Singleton have virtually all laid off numerous employees. At the Orange County Register, the story has been told about the unfortunate newsman summoned in on his day off to a meeting,...
  • NBC Focuses on Power of Out-of-Home (Dinosaur Media DeathWatch™)

    01/07/2008 9:26:01 AM PST · by Milhous · 4 replies · 71+ views
    TVWeek ^ | January 6 2008 | Brian Steinberg
    In a sign of the emerging power of TV outside the home, NBC Universal will hold what media buyers are likening to an “upfront” presentation for its digital out-of-home assets Jan. 16. The media company is hoping to get more advertisers to consider NBC for placing ads on TV screens in supermarkets, near gas-station pumps and in taxi cabs and arenas, among other places. Set to be held in Studio 8H, the NBC presentation will address about 200 advertisers and media buyers. It’s telling that NBC has chosen this year to roll out its first out-of-home upfront. As the Writers...
  • Can Hip-Hop Still Be Artistically Viable When It's Getting Spanked ... ? (DinoMedia DeathWatch™)

    01/03/2008 8:58:33 AM PST · by Milhous · 55 replies · 132+ views
    Idolator ^ | January 3 2008 | MAURA JOHNSTON
    As a way of profiling three artists who made three solid hip-hop albums this year--Turf Talk, Prodigy, and Project Pat--the New York Times' Kelefa Sanneh has written another entry in the "hip-hop: possibly dead, definitely changing" trend piece parade. The reasons, in case you've been otherwise occupied: sales are in the crapper, hip-hop sales are really in the crapper, one-hit ringtones rule, albums by former backpack outliers are (shockingly, right?) selling better than albums by the one-hit ringtoners, and the genre's mainstream is taking the reality of the new model harder than most thanks to its longstanding "if you're not...
  • Newspapers' Fab 2007: $11 Billion of Market Value Vaporized (Dinosaur Media DeathWatch™)

    01/02/2008 8:08:02 AM PST · by Milhous · 12 replies · 79+ views
    Silicon Alley Insider ^ | January 2 2008 | Henry Blodget
    The newspaper industry is now worth 42% less than it was three years ago and 26% less than twelve months ago, says former newspaper man and Reflections of a Newsosaur analyst Alan D. Mutter. Wacko street analysts and newspaper executives chalk this up to "cyclical weakness." Mutter knows better. $23B zapped in news stock value The market value of the American newspaper publishers entering 2008 as independent, publicly traded companies has fallen by $23 billion, or 42%, since the end 2004, the year before the wheels started coming off the industry. Nearly half the slide in the market capitalization of...
  • Old media hits the skids as new models roil market (Dinosaur Media DeathWatch™)

    12/24/2007 9:50:49 AM PST · by Milhous · 11 replies · 115+ views
    crain's ^ | December 22 2007 | Joyce Hanson
    Broadcast networks, newspapers, music labels struggle while Internet rises Leave it to a group of Hollywood screenwriters to script a perfect scene showing the struggles that old media faces in the digital era. When the Writers Guild of America went on strike in November, it drummed up sympathy by posting countless videos of rallies and marches on YouTube—and received no compensation for the content.From broadcast to print to music, New York's old media companies stumbled in the face of the chaos brought about by new media in 2007. The future of some of the city's most venerable companies and...
  • Gazette printing operation to close (Dinosaur Media DeathWatch™)

    12/20/2007 7:15:11 AM PST · by Milhous · 9 replies · 261+ views
    dailypress.com ^ | December 20 2007 | Chris Flores
    The Virginia Gazette commercial printing operation will close at the end of January, resulting in the loss of up to 10 jobs at the Williamsburg newspaper. The Virginia Gazette and Daily Press are both owned by Tribune Company ... The Daily Press and Gazette have had a number of small-scale layoffs over the last few years as the newspaper industry struggles with declining circulation and free Internet content.
  • TV Shows Face Their Irrelevancy (Dinosaur Media DeathWatch™)

    12/17/2007 4:52:13 PM PST · by Milhous · 7 replies · 101+ views
    The Rush Limbaugh Show ^ | December 17 2007 | Rush Limbaugh
    RUSH: "NBC officially announced today that its two late-night stars, Jay Leno and Conan O'Brien, will return to the air on Jan. 2 even if the [writers] strike ... is not resolved by then. The two hosts would be forced to perform without writers, and might have to face opposition from the Writers Guild, which has thus far urged the late-night hosts to support the strike by staying off the air." But they want to get back.  Why do they want to come back?  I know they love their jobs. They love their jobs. They like the money and so...
  • Insane Analyst Says Newspaper Decline is "Cyclical" (NYT) (Dinosaur Media DeathWatch™)

    12/13/2007 7:01:43 AM PST · by Milhous · 7 replies · 88+ views
    Silicon Alley Insider ^ | December 13 2007 | Henry Blodget
    There are two schools of thought on the declining newspaper business: The right one, which thinks the dead-tree-distribution business is dying as readers move online and alternative news and advertising options proliferate, and The crazy head-in-sand one which thinks the awful performance of leading newspaper companies over the past few years is just the result of the housing bust.CSFB's newspaper analyst John Klim appears to be a card-carrying member of the nutbag school. He argues that newspapers' recent troubles are mostly cyclical (2/3) and that newspapers are in a great position to benefit from the transition to digital media. All...
  • Can bloggers be journalists? Federal court says yes

    11/30/2007 7:40:24 AM PST · by ZGuy · 15 replies · 57+ views
    Arstechnica ^ | 10/31/07 | Nate Anderson
    When Philip Smith took to his blog to describe his (negative) experience of working with an eBay listing company, he did not expect that he would end up representing himself in a federal defamation and trademark dilution lawsuit or that he would have difficulty selling his condo after a lawyer for the plaintiffs clouded his title to the property. Now, after winning the case in spectacular fashion, Smith has emerged as an unlikely hero for bloggers everywhere who hope to be regarded as journalists. No US court has yet weighed in with authority on the debate about whether bloggers count...
  • Warner Music (WMG): Next Year Will Be Awful (Dinosaur Media DeathWatch™)

    11/29/2007 8:16:22 AM PST · by Milhous · 16 replies · 74+ views
    Silicon Alley Insider ^ | November 29 2007 | Peter Kafka
    Warner Music doesn't formally offer guidance to Wall Street. But read between the lines from its just-concluded Q4 earnings call and it's pretty clear that WMG is going to have a lousy 2008: • Physical music sales are going to continue to plummet, and retailers are indeed going to cut back on the shelf space they devote to music, which will compound the decline. WMG's Edgar Bronfman Jr. is more optimistic than some: He predicts that recorded music sales will only drop in the "mid-teens". • Digital sales growth, which Warner has been counting on to counter the drop in...
  • NJ: Gannett's Daily Observer Goes Weekly (Dinosaur Media DeathWatch™)

    11/29/2007 6:02:56 AM PST · by Milhous · 9 replies · 329+ views
    AP ^ | November 28 2007
    New Jersey's Ocean County Observer to Covert to a Weekly FormatTOMS RIVER, N.J. (AP) -- The Ocean County Observer, a newspaper that traces its roots back more than 150 years, is being converted to a weekly due to declining circulation, the paper's publisher said.Starting Jan. 10, the daily newspaper will be replaced by the weekly Toms River Observer-Reporter. The new weekly publication will focus on local schools and sports, small businesses and the Toms River-area population. The broadsheet format newspaper will be mailed to 40,000 homes.Thomas M. Donovan, president and publisher of the Observer and the Asbury Park Press, both...
  • McClatchy's Kansas City Star offers buyouts (Dinosaur Media DeathWatch™)

    11/28/2007 5:04:30 PM PST · by Milhous · 13 replies · 220+ views
    Reuters ^ | November 28 2007 | Robert MacMillan
    NEW YORK, Nov 28 (Reuters) - The Kansas City Star is offering 20 weeks of pay to employees who leave the newspaper after working there for 20 uninterrupted years or more, making it the latest U.S. paper to cut jobs amid ongoing declines in advertising sales. The Star, owned by McClatchy Co (MNI.N: Quote, Profile, Research), is limiting the program to fewer than 4 percent of its nearly 1,400 employees, according to an article on its Web site. All divisions, including about 300 newsroom staff, are eligible, Publisher Mac Tully told Reuters in an interview. "It is a changing business...
  • 'NYT' To Axe 12 Newsroom Jobs Now, Management Cuts Next Year (Dinosaur Media DeathWatch™)

    11/28/2007 11:57:03 AM PST · by Milhous · 32 replies · 90+ views
    Editor & Publisher ^ | November 28 2007 | E&P Staff
    NEW YORK Bill Keller, executive editor of The New York Times, in a memo to staff today announced "that there are going to be layoffs in the newsroom, for the first time in recent memory." He added that a "hiring freeze" will continue, with open positions filled internally, and next year "we also expect to eliminate a few management jobs in administrative areas." For now, a dozen "support" workers will be getting the axe, but Keller said the paper has still been able "to avoid the kind of drastic staff cutbacks other news organizations have endured." Keller noted, "As we...
  • Expected Rise in Paper Costs Leaves Publishers Shuddering (Dinosaur Media DeathWatch™)

    11/26/2007 7:41:00 AM PST · by Milhous · 43 replies · 84+ views
    Advertising Age ^ | November 26 2007 | Nat Ives
    Mags Could Be Paying 25% More Next Year Due to Mergers in Pulp Biz Magazine publishers are already facing way too many rising costs: technology investments, postage, editors both diva and deserving. But the seemingly mundane budget line for glossy paper is suddenly the one everyone is worried about. Welcome to our hell, publishers said last week. "I frankly became more of a quasi-expert than I would want to be, only out of necessity," said John P. Loughlin, exec VP-general manager at Hearst Magazines. The weakness of the American dollar is increasingly restricting publishers' overseas options. Seller's market More worrisome,...
  • Media General Oct. Sales Fall 11.8 Pct (Dinosaur Media DeathWatch™)

    11/21/2007 2:21:41 PM PST · by Milhous · 16 replies · 98+ views
    AP ^ | November 21 2007
    Media General Sales Fall 11.8 Percent in Oct., Hurt by Weak Classified, Political AdvertisingRICHMOND, Va. (AP) -- Media General Inc., which publishes newspapers including the Richmond Times-Dispatch, and runs TV stations, said Wednesday revenue fell 11.8 percent in October hurt by weak classified and political advertising sales.Total revenue slipped to $97.1 million from $110.2 million in the same month last year. The decrease reflects the absence of nearly $17.5 million in political advertising revenue compared with October 2006, the company said.Sales from Media General's publishing division fell 9.1 percent, mostly due to continued weakness in classified advertising, particularly in the...
  • WashPost (WPO) Newspapers to Start Losing Money (Dinosaur Media DeathWatch™)

    11/19/2007 7:45:35 AM PST · by Milhous · 7 replies · 74+ views
    Silicon Alley Insider ^ | November 19 2007 | Henry Blodget
    Remember when the Washington Post (WPO) was a newspaper company? (Back in the days when it named itself The Washington Post Company?). Well, thankfully, it's now an education and cable TV company.  Thankfully because WaPo's shriveling newspaper business is about to start losing money... At 24/7 Wall St, analyst Doug McIntyre notes the diverging fortunes of the New York Times Company's newspaper business (NYT), which is growing online revenue at a healthy rate and managing to preserve most of its operating income, and the Washington Post's newspaper business, which is shedding revenue at a 7% rate and losing operating income...
  • Layoffs at The Morning News? (Dinosaur Media DeathWatch™)

    11/13/2007 3:06:10 PM PST · by Milhous · 8 replies · 77+ views
    Back Talk Lake Highlands ^ | November 13 2007 | Jeff Siegel
    In the past month, the Houston Chronicle and the San Antonio Express-News have announced layoffs, buyouts, and cut backs. A third, major Texas paper (I have been asked not to say which one) will announce extensive cuts in a couple of weeks.Will Dallas' Only Daily Newspaper be next?Its circulation numbers have been awful, among the worst in the country, and worse than either Houston or San Antonio. In addition, the stock price of Belo, its parent company, has lost almost one-quarter of its value this year. Buyouts in 2006 and the announcement this summer that Belo will split into...
  • Executive says 'Tonight Show' staff warned of layoffs (Dinosaur Media DeathWatch™)

    11/09/2007 8:33:52 PM PST · by Milhous · 103 replies · 159+ views
    Mecury News ^ | November 9 2007 | LYNN ELBER
    LOS ANGELES—An NBC executive says the network has told the non-writing staff of "The Tonight Show with Jay Leno" that they face layoffs next week because of the Hollywood writers strike. The late-night talk show has been in reruns since the walkout started Monday. An NBC executive who wasn't authorized to comment publicly and asked to remain anonymous says the possibility of using guest hosts on the show is under consideration as a way to restart production and avoid layoffs.
  • Sun-Times Paper to Lay Off 31 Workers (Dinosaur Media DeathWatch™)

    11/08/2007 4:04:16 PM PST · by Milhous · 7 replies · 206+ views
    AP ^ | November 8 2007
    Sun-Times Newspaper Merger Means 31 Layoffs at Daily Southtown TINLEY PARK, Ill. (AP) -- More than 30 Daily Southtown editorial employees will be laid off by the end of the year in the wake of a merger announced last month, the newspaper's parent company announced Thursday. The layoffs will include 20 full-time and 11 part-time employees, according to Tammy Chase, spokeswoman for parent Sun-Times Media Group."We notified the employees today and they will be given employment through the end of the year," Chase said Thursday. "The full-time employees will also be given severance pay."STMG announced last month that the Southtown...
  • First FAS-FAX Numbers: Many Top Papers Take Big Hits (Dinosaur Media DeathWatch™)

    11/05/2007 10:15:41 AM PST · by Milhous · 21 replies · 62+ views
    Editor & Publisher ^ | November 5 2007 | Jennifer Saba
    Published: November 05, 2007 8:10 AM ET updated all morning NEW YORK The Audit Bureau of Circulations released circulation numbers for more than 700 daily newspapers this morning for the six-month period ending September 2007. Of the top 25 papers in daily circulation (see chart, separate story), only four showed gains. According to an analysis of ABC figures, for 538 daily U.S. newspapers, circulation declined 2.5% to 40,689,617. For 609 papers that filed on Sunday, overall circulation dropped 3.5% to 46,771,486. The percentages are based on comparisons from the same period a year ago and represent the majority of...
  • 'Newsweek' to Cut 500,000 From Rate Base (Dinosaur Media DeathWatch™)

    11/01/2007 3:24:51 PM PDT · by Milhous · 34 replies · 232+ views
    AdvertisingAge ^ | November 1 2007 | Nat Ives
    Circulation Guarantee to Advertisers Dropped to 2.6M NEW YORK (AdAge.com) -- Newsweek's new management plans to chop its guaranteed paid circulation by 500,000 copies, dropping its promise to advertisers down to 2.6 million paying readers from 3.1 million, those with knowledge of the move said today. Newsweek cited rising postal and other costs in explaining its decision to cut its rate base. The 16% cutback is one of the largest among a series at big magazines over the last few years, a sweep that has seen ambitions reduced at diverse titles including Playboy, Reader's Digest, Star, Woman's Day and BusinessWeek....
  • Enquirer workers to lose jobs in Post closing (Dinosaur Media DeathWatch™)

    10/31/2007 5:46:01 PM PDT · by Milhous · 6 replies · 164+ views
    The joint operating agreement that connected the Cincinnati Enquirer and Cincinnati Post means some Enquirer employees will lose their jobs when the JOA ends Dec. 31. In an internal memo to Enquirer employees, Publisher Margaret Buchanan said Enquirer jobs that are tied to the Post will be eliminated. That will be about 3 percent of the newspaper's 1,140 employees, or about 30, in the production, advertising operations and circulation areas. The 30-year-old JOA combines the Post's and Enquirer's advertising, circulation and printing functions, while both papers' editorial departments remain separate. The Gannett Co. (NYSE: GCI), parent of the Enquirer, announced...
  • Scripps (SSP) Q3: Interactive Performance Horrendous, Too (Dinosaur Media DeathWatch™)

    10/25/2007 7:26:49 AM PDT · by Milhous · 2 replies · 101+ views
    Silicon Alley Insider ^ | October 25 2007 | Henry Blodget
    E.W. Scripps' plan to strengthen its interactive division by splitting it off from the company's slow-growing businesses is sensible, but if the Interactive trends don't change, there isn't going to be much demand for the stock.  Right now, the Interactive division has the dubious distinction of being one of Scripps's fastest-shrinking divisions. In a red-hot online advertising market, Scripps' Interactive revenue declined more than 10% year-over-year in Q3, from $60.9 to $54.6 million.  Profit dropped, too--from $9 million to $8.2 million.  The Shopzilla acquisition has been a disaster. Scripps' boring others businesses, meanwhile, are also tanking: Newspaper revenue dropped 6%TV...
  • 'Times' Projects More Staff Reduction in Q4 (Dinosaur Media DeathWatch™)

    10/23/2007 4:46:19 PM PDT · by Milhous · 15 replies · 71+ views
    CONDÉ NAST PORTFOLIO ^ | October 23 2007 | Bercovici
    Well hello! The New York Times reported its third-quarter results today, and the press release contains this little sleeper bomb: The company expects to realize $14 million to $16 million in staff reduction costs in the fourth quarter. (Gawker noticed it first.) "This range can vary significantly based on seniority and the timing of implementation," notes the release. Would that be staff reduction as in "lots of people who had jobs not having them anymore?" That's certainly what it sounds like, but a Times spokeswoman says it's really just business as usual. "We have buyouts every quarter," she says. "It's...
  • Media General 3Q Earnings Off a Whopping 88% (Dinosaur Media DeathWatch™)

    10/18/2007 8:13:10 AM PDT · by Milhous · 17 replies · 72+ views
    Editor & Publisher ^ | October 18 2007
    RICHMOND, Va. -- Media General Incorporated says its third-quarter earnings plunged 88% as advertising revenue continued to erode and the year-ago quarter was boosted by businesses since sold. The Richmond-based newspaper publisher and television station operator said today that net income fell to $2.5 million, or 11 cents per share, from $20.6 million, or 87 cents per share, a year ago. Excluding a gain from television stations the company sold off, last year's earnings from continuing operations were $7.7 million, or 33 cents per share. Analysts polled by Thomson Financial expected earnings of 6 cents per share on revenue of...
  • Moody's cuts Belo debt to junk, may cut again (Dinosaur Media DeathWatch™)

    10/17/2007 5:59:54 PM PDT · by Milhous · 5 replies · 149+ views
    Reuters ^ | October 17 2007
    NEW YORK, Oct 17 (Reuters) - Moody's Investors Service on Wednesday cut its ratings on Belo Corp (BLC.N: Quote, Profile, Research) into junk territory, and said it may cut them again, citing the newspaper publisher's limited ability to improve free cash flow in a challenging environment for newspapers. Belo's use of a bank facility with a material adverse change (MAC) clause to pay out a maturing bond issue is also consistent with a junk-rated company, Moody's said in a statement. Moody's cut Belo's senior unsecured debt one notch to "Ba1," one level below investment grade, from "Baa3." "The long-term ratings...
  • San Antonio Express-News offers more buyouts (Dinosaur Media DeathWatch™)

    10/17/2007 1:48:21 PM PDT · by Milhous · 3 replies · 121+ views
    Poynter Online ^ | October 17 2007 | Jim Romenesko
    From: [San Antonio Express-News publisher] Stephenson, Tom Sent: Wednesday, October 17, 2007 10:29 AMTo: SAEN Exchange UsersSubject: Important announcement Dear Colleague, Earlier this morning I met with our Management Committee and announced we will be offering early retirement and incentive buyout packages to eligible employees at the Express-News. This offer does not apply to employees of Prime Time or MySanAntonio.com. The near-term economic outlook for newspapers remains soft. This requires us to take steps now to reduce our cost structure. Our goal is to reduce between 40 and 50 positions through a combination of incentives and a hiring freeze. If...
  • Morgan Stanley Sells Entire New York Times Stake (On Drudge)

    10/17/2007 11:18:57 AM PDT · by Anti-Bubba182 · 88 replies · 84+ views
    Bloomberg | October 17, 2007 | Leon Lazaroff
    Morgan Stanley Sells Entire New York Times Stake Link only due to copyright restriction.
  • Major shareholder bailing out of the New York Times

    10/17/2007 10:22:01 AM PDT · by MrEdd · 60 replies · 143+ views
    American Thinker ^ | October 17, 2007 | Ed Lasky
    Ed Lasky The decline of the New York Times as a reputable newspaper has been matched by the decline of its business management. The running (or running down of the newspaper) by "Pinch" Sulzberger, descendant of the family which had purchased and remade the paper generations ago, has progressively destroyed the value of the Times (the apple does fall far from the tree-especially after several generations). The paper has suffered disproportionably more than its peers on the stock market. It will suffered another indignity this morning. A huge block of shares was sold early this morning off the New York...
  • Gannett Earnings Drop 11 Percent (Dinosaur Media DeathWatch™)

    10/17/2007 6:36:10 AM PDT · by Milhous · 11 replies · 85+ views
    AP ^ | October 17 2007
    MCLEAN, Va. (AP) -- Gannett Co., the largest newspaper publisher in the country and owner of USA Today, said Wednesday third-quarter earnings fell 11 percent, as revenue slipped from a year-ago period boosted by spending on political advertising.Net income dropped to $234 million, or $1.01 per share, in the three months ended Sept. 30 from $261.4 million, or $1.11 per share, in the year-ago period. The latest quarter included a charge of $14.5 million for restructuring costs.Analysts polled by Thomson Financial expected profit of $1 per share. The estimates typically exclude one-time items.Revenue fell 4 percent to $1.81 billion from...
  • Big no-go for first week's DVR ratings (Dinosaur Media DeathWatch™)

    10/16/2007 5:02:18 PM PDT · by Milhous · 7 replies · 91+ views
    Media Life ^ | October 16 2007 | Toni Fitzgerald
    No new shows get major liftsThe new season has gotten off to a rather disheartening start for the networks, with ratings down from last year among major demographics and very few new hits to speak of.The news didn’t get much better with yesterday’s much-anticipated release of seven-day playback digital video recorder viewership for premiere week. Though already-established hits like ABC’s “Grey’s Anatomy,” CBS’s “Two and a Half Men” and NBC’s “ER” saw sizeable DVR kickups for their premieres, they didn’t make up for all of this year’s losses. Many shows were still down from last year’s live averages for opening...
  • East Valley Tribune debuts tab size, free distribution (Dinosaur Media DeathWatch™)

    10/16/2007 4:41:58 PM PDT · by Milhous · 7 replies · 130+ views
    The Business Journal of Phoenix ^ | October 16 2007 | Chris Casacchia
    The East Valley Tribune this week will debut major changes to its content and business model -- namely free distribution. On Wednesday, the daily paper will introduce a new format that "prioritizes local news coverage," by moving all of its local news to the front section, officials said in a press release to media outlets. Four local editions will be offered, as new editions for Gilbert and the SanTan region join the current East Valley and Scottsdale editions. The Tribune also will be converting its front local news section to a compact size and offering it free in selected areas....
  • Readers in control, newspaper officials say at conference (Dinosaur Media DeathWatch™)

    10/16/2007 4:35:57 PM PDT · by Milhous · 15 replies · 132+ views
    South Florida Sun-Sentinel ^ | October 16 2007 | Ruth Morris
    Once king of the daily news empire, newspapers now face a stormy economic environment that is forcing many to focus on local coverage and update news much more quickly, a panel of editors and publishers said Monday. Speaking at the general assembly of the Inter American Press Association, local newspaper leaders shared some of the strategies they have embraced to combat industrywide declines in advertising revenue and readership. "Today, we're not in control. The customers are in control," said Howard Greenberg, publisher of the South Florida Sun-Sentinel. "We have to create a new business model." At the Sun-Sentinel, as with...
  • McClatchy Posts Lower 3Q, Plans Charge (Dinosaur Media DeathWatch™)

    10/16/2007 4:25:28 PM PDT · by Milhous · 7 replies · 53+ views
    AP ^ | October 16 2007 | Seth Sutel
    McClatchy 3Q Profit Falls, Plans to Take Charge Due to Poor Conditions for Newspaper BusinessMcClatchy said it was still determining how big the charge would be, and expected to disclose it in the company's quarterly regulatory filing on or before Nov. 9.The announcement reflects the deepening malaise in the newspaper business, which has seen advertising slump badly as marketers and readers continue to migrate to the Internet, and amid a long-term decline in circulation. The housing slump has also affected real estate advertising at newspapers.Before accounting for the charge, McClatchy reported preliminary earnings of $23.5 million, or 29 cents per...
  • AOL to Cut Global Work Force by 20 Pct (Dinosaur Media DeathWatch™)

    10/15/2007 11:27:07 AM PDT · by Milhous · 12 replies · 49+ views
    Associated Press ^ | October 15 2007 | ANICK JESDANUN
    NEW YORK (AP) — AOL is reducing its global work force by 2,000 employees, or 20 percent, as it continues a transition from Internet access provider to online advertising company.The latest round of job cuts comes on top of 5,000 positions eliminated last fall, after AOL said it would begin giving away AOL.com e-mail accounts, software and other features once reserved for paying subscribers to boost traffic to ad-supported Web sites."This realignment will allow us to increase investment in high-growth areas of the company — as an example, we added hundreds of people this year through acquisitions — while scaling...
  • MediaNews' Detroit partnership to cut staff (Dinosaur Media DeathWatch™)

    10/12/2007 1:01:14 PM PDT · by Milhous · 6 replies · 187+ views
    A partnership involving Denver-based MediaNews Group that operates Detroit's two daily newspapers is offering buyout packages to employees with a goal of cutting 110 positions. Officials of the Detroit Media Partnership, which performs business functions for the Detroit News and Detroit Free Press, cited declining circulation and advertising revenues and the weakness of Michigan's manufacturing industry as reasons for the staff cutbacks. The partnership is targeting 22 newsroom employees at the two papers -- 16 at the Free Press and six at the News, the Free Press reported Friday on its website, www.freep.com. The other positions are on the business...
  • BBC faces walkout over 2,800 job cuts (Dinosaur Media DeathWatch™)

    10/09/2007 9:45:10 PM PDT · by Milhous · 22 replies · 449+ views
    Telegraph ^ | October 10 2007 | Nicole Martin
    The BBC is braced for its worst industrial action in a decade as management prepares to axe up to 2,800 posts to save £2 billion. Analysis: It's hard to defend the BBC   The 12pc cut, which was not denied yesterday by the BBC, has come as a shock to the work force Strike action appeared inevitable last night as unions digested the impact of proposed cuts of up to 12 per cent of the 23,000-strong work force.Household name presenters such as John Humphrys and Jim Naughtie, who anchor Radio 4's Today programme, will refuse to cross any picket line,...
  • CNN tech chief leaves -- layoffs coming? (Dinosaur Media DeathWatch™)

    10/09/2007 5:03:20 PM PDT · by Milhous · 1 replies · 122+ views
    Valleywag ^ | October 9 2007 | OWEN THOMAS
    Monty Mullig, the head of Web technologies at Time Warner's Turner division, which runs CNN and TBS, among others. Despite CNN's efforts to burnish Mullig's profile by featuring him as a talking head, touting CNN's ability to serve up millions of pageviews in crises like the contested 2000 presidential election and 9/11, you've likely never heard of him. But nonetheless, his departure now is instructive. Turner, you see, is rumored to be planning layoffs in Mullig's department. It may seem odd that Turner, whose CNN.com is a runaway success in online news, would be plotting cuts as everyone else is...
  • Internet competition, newspapers, and video rentals (Dinosaur Media DeathWatch™)

    10/08/2007 10:14:34 PM PDT · by Milhous · 5 replies · 156+ views
    The American Thinker ^ | October 8 2007 | Christopher J. Alleva
    In what may be a preview of coming attractions in the newspaper business, Movie Gallery, the largest retail DVD rental operator has filed a prepackaged Chapter 11 bankruptcy petition.  Taking on big liabilities at the wrong time to buy out competitor Hollywood Video for $1 Billion in 2005, the company collapsed under the weight of the debt in the face of a huge decline in the retail movie rental business. Companies often succumb to temptation when they buy competitors out in what turns out to be false bottom for the business. Several newspapers publishers made this mistake when the they bought papers in 2005 and 2006. Moreover, like newspapers,...
  • Black & White & Red Faces All Over: Chicago Law Hurts Free Papers (Dinosaur Media DeathWatch™)

    10/08/2007 3:31:36 PM PDT · by Milhous · 15 replies · 511+ views
    Editor & Publisher ^ | October 8 2007 | Mark Fitzgerald
    CHICAGO A Chicago law passed unanimously last winter to bar the indiscriminate door-to-door distribution of menus, brochures, and other advertising flyers also bans many circulation practices for free newspapers. The provision applying the ban to newspapers was discovered by Ron Roenigk, the publisher of two free community papers on the city's Northwest Side, Inside, and Inside Lincoln Park. "It passed 50 to nothing -- and I'm sure 49 of (the aldermen) didn't even read the legislation," he said in a telephone interview Monday. Roenigk did read the law, however -- and became alarmed at its implications. Chicago is awash in...
  • LEFT COAST BIAS: Will TV Viewers Still Care About the Election Next Year? (Dino Media DeathWatch™)

    10/08/2007 11:15:53 AM PDT · by Milhous · 5 replies · 277+ views
    Broadcasting & Cable ^ | October 8 2007 | Ben Grossman
    Says Meet the Press' Tim Russert: 'The Challenge Will Be from February to November, How to Keep the Country Engaged. That's a Long, Long Period.'Viewers may burn out on all of this election coverage long before next November, but at least I may get a sweet new car out of it. Anytime political programming is on in Casa Grossman, which is often, the missus and I tend to cordially disagree. And by “cordially,” I mean she says something about her candidate, I make a comment, and she fires something at my head.This happens enough that my 18-month-old son has already...