Guess where the paparazzi are training their lenses these days? For those of you who missed it, The New York Times writes that gossip rags have all but abandoned Britney Spears for the thrill of capturing corporate excesses on camera. From the paper:
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.
Michael Wolff, author of the recently published Rupert Murdoch tell-all, “The Man Who Owns the News,” says that the News Corp chief executive would love to buy The New York Times. The only thing standing in his way is the Ochs-Sulzberger family which controls the Times. If they’re anything like the Bancrofts, former controllers of Dow Jones/Wall Street Journal, only an insane amount of money might persuade them to let go of the prized but struggling newspaper publisher.
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:
We’ve heard in recent days that The New York Times has gotten some interest in its stake in the Boston Red Sox, but it seems like whatever offers are being discussed, they must not be enough for the publisher.
The New York Times and GateHouse Media arrived at a general understanding on Monday of how Web links work. That’s good timing because they were supposed to go to trial over it today. Here’s the brief back story, courtesy of The Associated Press:
Mexican billionaire and telecommunications tycoon Carlos Slim is poised to throw hundreds of millions of dollars at The New York Times Co so the newspaper publisher can buy some more time to get its act together as advertising revenue falls and debt looms. If he is truly an ally of the Times, as our sources say, it could prove bad news for dissident investors like Harbinger Capital Partners who are pressing for drastic changes at the Times.