MediaFile

Yahoo and newspapers 18 months after APT

YAHOO-MICROSOFT/When Media General reported its quarterly results this week, the company made sure to highlight that its increased digital revenue — up 8 percent — was due in part to its relationship with Yahoo.

“It’s one of the few game-changing partnerships we have had,” Media General digital media president Kirk Read said in an earlier interview.

The publisher of The Tampa Tribune and Richmond Times-Dispatch is part of the 800 or so newspapers that appointed Yahoo to be one of its digital sherpas. The partnership involves ad serving technology, content sharing and, until the sale of Yahoo’s Hot Jobs to Monster, online recruitment. Since the Internet giant launched its ad platform known as APT 18 months ago, the alliance has sold $100 million in Yahoo inventory.

The APT platform allows newspapers to expand their digital footprint within the marketplace by selling online inventory of both Yahoo’s local sites and the newspapers’ web sites. One of benefits of APT is that it allows advertisers to target ads to specific audiences. Newspapers and Yahoo share the revenue for ads sold on Yahoo’s site.

“Things exceeded our expectations,” said Lem Lloyd vice president of channel sales of Yahoo. “The way we think about it is we have built an infrastructure in which to take advantage of a huge local ad share shift that is happening and accelerating over time.”

Wednesday media highlights

Here are some of the day’s stories on the media industry:

Bernstein Research Criticizes Media CEO Pay (B&C)
“The Bernstein report notes that the top earner among media executives in 2008 was CBS Corp. CEO Leslie Moonves, who was paid total compensation of $31.9 million last year. He is followed by Disney CEO Robert Iger, who earned $30.6 million; News Corp.’s Rupert Murdoch, who took home $27.5 million; and Viacom’s Philippe Dauman was paid $23 million. Time Warner CEO Jeff Bewkes took home the least of the top five, at $19.9 million,” writes Claire Atkinson.

Media General posts quarterly profit, ad sales fall (Reuters)
Robert MacMillan writes: “While Media General, which publishes The Tampa Tribune, Richmond Times Dispatch and other papers, reported a 26 percent drop in newspaper ad revenue, the company said classified and retail ad declines were less steep than in recent quarters. Media General reported second-quarter net income of $20.6 million, or 90 cents a share, compared with a loss of $532.2 million, or $24.12 a share, a year ago.”

Philadelphia Newspapers to Release Reorganization Plan (E&P)
“[U.S. Bankruptcy Judge] FitzSimon had given the company until Aug. 31 to present its plan. Company officials did not reveal any new details, but had previously revealed that the plan involved raising $50 million in new capital and negotiating with lenders to reduce the company’s $300 million debt.”