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