Just when you think things can’t possibly get any worse for newspapers, it somehow manages to get even bleaker. Today’s example is provided by the Washington Post Co and its flagship paper (and the online site Slate). The company reported third quarter earnings including results from its newspaper division today.
Over the four years that Kodak’s stock fell 80 percent, the photography icon’s private jet made its way several times a year to Vigo, Spain — the balmy fishing town that is the hometown of CEO Antonio Perez.
Under the ownership of Rupert Murdoch’s News Corp, the Wall Street Journal has made no bones that the New York Times is enemy No.1. But that hit list doesn’t stop at the Gray Lady. From time to time, the Journal pivots to set USA Today in its crosshairs — and its latest actions mark a move in that direction.
Newspaper publishers are still laboring to reverse a massive decline in advertising revenue — the Newspaper Association of America reported that total industry ad revenue fell 6% in Q2 — but you sure wouldn’t know it over at The Wall Street Journal.
Last night, The Wall Street Journal held a party at Gotham Hall for a slew of media, advertisers, bigwigs (Barry Diller, the cast of In the Heights!) to introduce Greater New York, a souped up metro section that debuted on Monday. Perhaps you have heard of it.
The largest U.S. newspaper publisher and owner of USA Today, the nation’s biggest-selling daily paper, is slashing payroll just in time for the holidays. We read about layoffs everywhere these days, but if you want to see the slow-motion car crash version of how Gannett is doing it, look to Gannett Blog, run by former company reporter Jim Hopkins.