McClatchy Chief Executive Gary Pruitt shared some details of the newspaper publisher’s operations in his speech on Tuesday at the Newspaper Association of America’s annual meeting. Here’s what he said, based on a transcript posted at the NAA’s website:
Newly launched international news service GlobalPost.com had a good first quarter and sees positive signs for the rest of the year, including coming in under budget and raising more money to finance its operations. That’s not bad, and looks all the better considering how the news business is under assault these days. Oh, and it aims to be cash-flow positive by the fourth quarter of 2011.
******We sprinkled updates into this blog. We’re highlighting them like this.******Thanks to TechCrunch, U.S. tech reporters are about to spend another weekend working instead of playing. UPDATE: Or maybe Kara Swisher at All Things D will save them!******Two sources told proprietor Michael Arrington that Google “is in late stage negotiations to acquire Twitter.” He wrote:***
We don’t know the price but can assume its well, well north of the $250 million valuation that they saw in their recent funding.
Eric Schmidt, who will keynote the Newspaper Association of America’s annual convention, runs the search engine company and advertising beast that many journalists at sick and/or dying newspapers blame for sucking up some of their advertising dollars.
There is no better way to learn about the art of product placement than to learn from the masters. Today, that means Microsoft Corp and the Bill and Melinda Gates Foundation, both of which were the subject of articles about how they’re delivering their messages like little pills wrapped in the sugar coating of the entertainment you consume.
A Facebook friend of mine chastised me on Thursday after reading my story about salary reductions at The New York Times and buyouts at The Washington Post. He wanted to know why I hadn’t found anything positive to write about newspapers in a while.
Washington Post Co Chairman Don Graham wrote a more than 2,000-word letter to shareholders for his company’s latest annual report. I managed to cut it down to the 587 words that I thought were really worth reading. Graham is the kind of chairman and CEO that you want to cover as a journalist because he seems to rely exclusively on straight talk instead of obfuscation — particularly when the news is bad for the company and for shareholders. Here are the 587 words, with the parts that I found even more interesting than the rest marked in bold type.
Here’s another one that you can loosely file under “Government aid to newspapers,” even though there’s no money that taxpayers would fork over to newspapers. Maryland Democratic Senator Benjamin Cardin introduced a bill on Tuesday to allow newspapers to become non-profit organizations to help them survive.