Some people hate The New York Times and some people love The New York Times — but everybody wants to read The New York Times for free. That will largely end in 2011. You probably read that today on the Internet, and you probably read it for free.
from Summit Notebook:
The journalists and staff who work at The Daily Beast don't look at life like you other sad-sack scribes out there who are watching your job market wash out to sea with the ebb tide. In fact, they are happy in a particularly mollusk-like way.
I wrote an analysis on Monday about the possibility that News Corp might take its news search results away from Google and list them on Microsoft’s Bing search engine instead. My conclusion: This one isn’t such a hot idea. Then I read John Gapper’s Financial Times item about how it *could* be a hot idea.
Several media reporters wrote on Twitter on Thursday that this was one of the worst weeks in journalism, and it’s hard to argue with them. BusinessWeek is canning a third of its staff as Bloomberg gets ready to buy the magazine. The Associated Press is laying off 90 people as part of its effort to cut payroll costs by 10 percent this year.
Covering Thomson Reuters Corp for almost two years has taught me that people like to cast my company in a recurring role in media deal parlor games. Now that the company’s arch-rival Bloomberg LP will buy BusinessWeek magazine from McGraw-Hill, lots of my pals in the media world are wondering: Will Thomson Reuters buy a mainstream news or business news magazine? Or newspaper? Why not Forbes? Why not the Financial Times?
Fifty-six. Is it the new 65? Ask Steven Ainsley, the 56-year-old publisher of The Boston Globe. He is retiring, parent company New York Times Co said on Thursday, after three years as publisher. His successor is Christopher Mayer, 47, who joined the globe in 1984.
We had a hard time finding the good news in Monday’s report that U.S. newspaper circulation has fallen more than 10 percent, based on an analysis of 379 daily papers. Thank goodness for the newspapers whose publishers helped them understand why losing hundreds or thousands of paying readers is good.
We feel like we’ve read this bad news before. Our sources tell us that they are expecting another round of layoffs in the Los Angeles Times newsroom. They said that people thought a few dozen editorial staffers could get their walking papers this week, though someone else close to the paper whom we spoke cautioned that amount was too extreme.
The New York Times will cut 100 positions in its newsroom by the end of the year, Executive Editor Bill Keller told staff on Monday. This is the second time that the paper has taken this unfortunate step, having cut 100 positions last year (though, as Richard Perez-Pena reported in his story on nytimes.com, other positions were added so it was not a net reduction). Thing is, the TImes already cut pay for journalists and other employees this year in an attempt to forestall cuts. So… it’s not good news, but it is fit to print. Here is Keller’s memo:
It’s not every day that you get people who are anxious to tell you that they’re investing in newspapers, that great industry sector that took a swan dive into an empty swimming pool over the past couple years. Private equity firms that are getting into that game again are just that — PRIVATE.