Bloomberg reports that The New York Times Co. listed a 27 percent drop in first-quarter advertising revenue, expanding its net loss to $74.5 million.From the story: Times Co. cut jobs, slashed pay, halted its dividend and sold assets to help preserve cash after ad revenue slipped 13 percent last year. It’s seeking to sell its [...]
In its first month operating only as a Web site, traffic on the Seattle Post Intelligencer’s Seattlepi.com has significantly dropped, according to reports from the Puget Sound Business Journal.A company spokeswoman, however, says the numbers are flawed and that traffic on the site jumped 10 percent from last year.From the story: “The March Nielsen data [...]
The Chicago Tribune is cutting 11 percent of its newsroom staff, according to reports from Reuters.The reduction results in the loss of 53 editorial employees, bringing the total number in the newsroom to 430, more than 200 less than three years ago. From the story: “This process comes with pain: 53 of our friends and [...]
The Fox Business Network’s shows are now broadcast from a new high-tech studio with plenty of windows with views of Midtown Manhattan and moving floor parts that allow for a variety of set looks and configurations. According to a Broadcasting & Cable article, the studio launched Monday with the 7 a.m. broadcast of “Money for [...]
Editor & Publisher today released its monthly compilation of newspaper website statistics. In March, about three quarters of the top 30 sites experienced double-digit year-over-year growth in unique visitors.The Seattle Post-Intelligencer, which went online-only in March, was one exception. Seattlepi.com fell to No. 32 with 1.4 million unique users, down 23% compared to March 2008. [...]
Matt Pressman of Vanity Fair writes that the saying, “We’re going to turn things around by being like The Economist,” has become an overused cliche.He says there is no way news weeklies can be like The Economist, a magazine whose circulation has doubled in the past seven years, and he offers four reasons why. The [...]
Wall Street 24/7 has a story that predicts which brands could soon disappear in this tumultuous economy. Reporters examined the 100 largest troubled brands and through detailed reporting came up with a list of 12 that they say will fold by next year.Among those is Hearst’s Esquire magazine and Borders.For the complete list click here.
Crain’s New York Business reports that John Koten is stepping down from his post as the chief executive of the publisher of Fast Company and Inc. magazines.From the story: “A person familiar with the situation said that the company will be run for the time being by an executive committee consisting of chief finance officer [...]
The New York Times Company reported Tuesday that it lost $74 million in the first quarter of 2009, partly on a quarterly advertising drop of more than 28 percent, according to an article on NYTimes.com. The worst drop, 31.6 percent, hit the New England Media Group, which consists primarily of The Boston Globe and its [...]
