Comments on: Content economics, part 3: costs http://blogs.reuters.com/felix-salmon/2013/08/19/content-economics-part-3-costs/ A slice of lime in the soda Sun, 26 Oct 2014 19:05:02 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: essay writers http://blogs.reuters.com/felix-salmon/2013/08/19/content-economics-part-3-costs/comment-page-1/#comment-54936 Mon, 13 Oct 2014 11:45:51 +0000 http://blogs.reuters.com/felix-salmon/?p=22322#comment-54936 rather then getting all these cons, ipad device offers similar to very hot wedding cake. . -= Sourish

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By: fut 15 coins http://blogs.reuters.com/felix-salmon/2013/08/19/content-economics-part-3-costs/comment-page-1/#comment-52712 Fri, 26 Sep 2014 00:31:48 +0000 http://blogs.reuters.com/felix-salmon/?p=22322#comment-52712 I’ve been surfing online greater than three hours these days, but I never found any fascinating article like yours. It’s pretty worth sufficient for me. Personally, if all site owners and bloggers made excellent content material as you probably did, the net can be a lot more useful than ever before.

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By: lewisdvorkin http://blogs.reuters.com/felix-salmon/2013/08/19/content-economics-part-3-costs/comment-page-1/#comment-47848 Mon, 19 Aug 2013 21:16:19 +0000 http://blogs.reuters.com/felix-salmon/?p=22322#comment-47848 Felix, in the spirit of not comparing apples and oranges, it should be noted:

1) FORBES has 45 full-time staff reporters.
2) Being a FORBES contributor is a freelance job. The amounts you cite — $35,000 and $100,000 — were earned as freelance income. Our contributors are free to work for other media organizations.
3) As I mentioned in one of my posts, the Bureau of Labor Statistics puts the average full-time reporter or correspondent’s salary at $45,270.

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By: loopguy http://blogs.reuters.com/felix-salmon/2013/08/19/content-economics-part-3-costs/comment-page-1/#comment-47847 Mon, 19 Aug 2013 20:00:25 +0000 http://blogs.reuters.com/felix-salmon/?p=22322#comment-47847 The comment above is close to being correct–more correct here than Felix is.

A fully funded pension, with $333MM in assets, has $283MM in liabilities. If the pension were to be terminated today, with the PVABs of all participants going to 100% vesting, there would be $50MM which would revert to the company.

So Jeff bought a company with $250MM which had $50MM in assets, after some likely unpopular financial moves. That’s a reduced cost, not a negative cost.

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By: TimWorstall http://blogs.reuters.com/felix-salmon/2013/08/19/content-economics-part-3-costs/comment-page-1/#comment-47846 Mon, 19 Aug 2013 19:59:33 +0000 http://blogs.reuters.com/felix-salmon/?p=22322#comment-47846 “This was reached by using a small number of editors to oversee a network of 1,100 contributors, only 25 of whom (2.3%) made more than $35,000, and only two of whom (0.2%) made more than $100,000.”

I’m not sure why you see this is a bad thing. As one of the 2.3% (and not of the 0.2%) the deal seems pretty good for a couple of hours writing a day.

“Translation: We were paying very little before, and we’ll be paying even less going forwards.”

It’s certainly a better deal than trying to chase freelance OpEd opportunities for example. Indeed, I earn more than I would if I were on staff at The Telegraph (but not, admittedly, The Sun or Mail) and have to do considerably less work. And it’s a multiple of being on a UK local paper (average salary there is something appalling like £18,000 a year).

It would be fair enough for anyone to not like what I produce: but from the producer side the deal’s rather good actually.

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By: RichardSimmons http://blogs.reuters.com/felix-salmon/2013/08/19/content-economics-part-3-costs/comment-page-1/#comment-47845 Mon, 19 Aug 2013 17:03:00 +0000 http://blogs.reuters.com/felix-salmon/?p=22322#comment-47845 I work the maths a bit differently. Bezos is paying $250m. He is not receiving the $333m, the companies he is buying are, to satisfy pre-existing liabilities. He is getting the newspaper plus $8.5m cash (per SEC filing) plus a pension plan that is now (post the $333m injection) $50m overfunded (per press reports). So the enterprise value is $192m – that is what he is paying; far from a negative amount.

From the seller’s point of view they are receiving $250m and leaving $8.5m cash in the business and injecting the $333m, so they are out of pocket $92m.

The burning question is: could The Washington Post Company have let the newspaper default on its pension obligations and have someone buy it out of bankruptcy, and therefore saved their shareholders $92m?

P.S. The overfunded pension plan that Buffett devised is a red herring. That is the surplus of the group as a whole, not the newspaper division’s.

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