Moody’s Bottom Rung – media edition

March 10, 2009

Moody’s published its “U.S. Bottom Rung” on Tuesday a list of companies that the corporate credit ratings agency thinks are at most risk of defaulting on their debt. There are 283 companies on the list, which is current as of March 1, including some near and dear names for people who love the media business.

Sound familiar? McClatchy cutting jobs

March 9, 2009

These have been a couple of ugly weeks for the newspaper industry. First, EW Scripps pulled the plug on the Rocky Mountain News, and then, today, McClatchy said it was cutting about 1,600 jobs, representing 15 percent of its workforce.

Tough times force ASNE to cancel convention

February 27, 2009

The only kind of party that most U.S. newspapers are having these days is a funeral party. This week alone we have seen:

Happy trails, Rocky Mountain News

February 26, 2009

EW Scripps Co’s decision to shut down Denver’s Rocky Mountain News as of Friday offers an interesting lesson about the value of news.

Thomson Reuters CEO: No paper, please

February 25, 2009

Thomson Reuters Corp, the company that employs me and runs this blog, posted fourth-quarter financial results on Tuesday. My colleague and I wrote them up for the wire, and you can see them here. Meanwhile, here’s something that didn’t make it in to the story that we wanted to share.

Chernin parachutes, Murdoch keeps flying

February 25, 2009

News Corp President and Chief Operating Officer Peter Chernin’s perks after he leaves News Corp at the end of June are basic compared with some legendary golden parachutes, though they’re still worth more money than I make in a year. Or 10 years for that matter.

Baltimore Sun feels Tribune cost cuts

February 17, 2009

Suburban bureau reporters at The Sun in Baltimore, Maryland, are about to learn the true meaning of the word “mobile.” The Tribune Co-owned paper is shutting down the last of its three suburban bureaus and bringing their reporters back to the main newsroom in Baltimore proper, sources told MediaFile on Tuesday.

In DC media, newspapers sink, niche outlets swim

February 11, 2009

The interests of the paranoid and the preservers of the free press are converging: Mainstream media’s coverage of Washington, D.C.,┬áhas shrunk to the point where big stories are being left uncovered. Meanwhile,┬ámore “niche” media outlets are moving in, but catering to the interests of the wealthy few.

Bold steps for helping newspapers (seriously)

February 10, 2009

Another good reason to read lots of newspapers: You end up coming across all sorts of crazy ways to save the newspaper business. One of the most interesting that we’ve found so far comes from The Dallas Morning News, where Lazard executive John Chachas lays out some bold steps that the U.S. government could take to help save the press. (No, we’re not talking about financial support or “bailouts”.)

Writing for your life at The New York Times

February 5, 2009

Who can blame a print reporter for wanting to get up to speed in the new media world, particularly at The New York Times? With ad revenue down and the future in doubt, it might seem worthwhile for reporters to keep themselves marketable. The union that represents the NYT’s reporters approves, but it suspects that some are making too many concessions. Here are excerpts from the memo: