NEW YORK (Reuters) – The plunge in U.S. newspaper circulation is accelerating, according to the latest figures released on Monday, as more people cancel their subscriptions and publishers cut distribution and sales of discounted copies.
Average weekday circulation at 379 daily newspapers fell 10.6 percent to about 30.4 million copies for the six months that ended on September 30, 2009 from the same period last year, according to the U.S. Audit Bureau of Circulations.
NEW YORK, Oct 26 (Reuters) – The plunge in U.S. newspaper
circulation is accelerating, according to the latest figures
released on Monday, as more people cancel their subscriptions
and publishers cut distribution and sales of discounted
Average weekday circulation at 379 daily newspapers fell
10.6 percent to about 30.4 million copies for the six months
that ended on Sept. 30, 2009 from the same period last year,
according to the U.S. Audit Bureau of Circulations.
NEW YORK (Reuters) – The Wasserstein family will not sell New York Magazine, the weekly arts, entertainment and lifestyle title owned by leading investment banker Bruce Wasserstein, who died on October 14.
A Wasserstein family trust will continue to control New York Media Holdings, the magazine’s parent company, a spokeswoman for the magazine said.
NEW YORK (Reuters) – The New York Times Co beat quarterly revenue and profit forecasts because of cost cuts and higher newspaper prices even as advertising sales fell, sending shares up 19 percent on Thursday.
Ad revenue in its news media group, which includes the Times, Boston Globe and other papers, fell 30 percent, in line with declines that other U.S. newspaper owners are facing.
NEW YORK, Oct 21 (Reuters) – Media General Inc <MEG.N>
reported a quarterly loss on Wednesday because of a writedown
and said revenue fell 18 percent, but the newspaper publisher
also said it sees signs that ad spending is improving.
Media General, which owns U.S. papers such as the Richmond
Times-Dispatch and Tampa Tribune, reported a third-quarter net
loss of $62.5 million, or $2.80 a share, compared with
year-earlier net income of $6.1 million, or 27 cents a share.
The Wall Street Journal, ever on the hunt for new ways to please its readers and new ways to make money (and what, we ask, is wrong with that?), will launch a new, pricier version this November. Called “The Wall Street Journal Professional Edition,” it is designed for business readers who want more than what the daily newspaper and website provide on their own.Essentially, it is the Journal’s daily offering, with reports from Dow Jones Newswires and a reservoir of news and information from Factiva, the news archive that Dow Jones owns — and a bunch more stuff:
Information from more than 17,000 global sources, some of which are not available to the public.
A one-year archive of Factiva’s global business sources and a two-year archive of wsj.com content.
More than 30 industry pages, managed by Dow Jones editors
Six industry sections managed by Journal editors who select news and information for readers on pharmaceuticals, healthcare, energy, media and marketing, telecommunications and technology.
Personalized homepages and news alerts for when things break.
Dow Jones plans to sell the edition to businesses, which would make it available to employees through “site licenses” (ie, your business buys a license that makes the professional edition available to X number of people for a price to be determined). In January, it will be available to people for $49 a month, or just under $600 a year, said Clare Hart, head of Dow Jones’s Enterprise Media Group, which oversees Dow Jones Newswires, Factiva and Dow Jones Indexes.So why have a professional edition for a paper that is arguably already for professionals? According to Hart, it is an attempt to recognize the middle ground between “regular” readers (like my mom) and financial clients who use the super-charged “terminals” from Thomson Reuters and Bloomberg that provide news along with sophisticated and deep financial information.”It’s a response to what customers are driving us toward. Customers want the simplicity of a consumer application with the sophistication of an enterprise application,” Hart said.Robert Thomson, who edits the Journal and oversees Dow Jones’s editorial operations, offered a hypothetical example of an oil service company employee in Boise who might not be in the market for a Bloomberg or Thomson Reuters computer, but needs more information than he or she would get in the paper.”You’re interested in oil import prices, you’re interested in currencies,” Thomson said. “To be honest, it would be hard to find you as a client on the professional end.” With WSJ’s professional edition, he said, that employee could customize a feed that would send an alert when something happens in China that affects oil prices.On another level, the Journal is trying to capture readers for whom paper is not enough, while financial professional-grade data feeds offer too much at too high a price, and don’t look all that pleasing to the eye. The information that readers get would be more sophisticated, but presented in an easy-to-view way, just like the Journal or the Times or most other news outlets present it to readers on their Web pages now.It sounds like a promising introduction and an effective way to give readers a more comprehensive look at Dow Jones’s information offerings than they might have gotten before. But how will it play? Company officials won’t share projections.It might be that Dow Jones, now part of Rupert Murdoch’s News Corp, already has a bunch of happy customers who don’t need to be made happier. It’s hard to say how many untapped readers there might be for this new service, either through business licenses or through individual subscriptions. If nothing else, it’s an experiment done at a time when news outlets need to experiment even more than they are.(Photo: Reuters)
NEW YORK (Reuters) – The New York Times said on Monday it would cut 100 newsroom jobs through buyouts or layoffs as it tries to counter lost advertising revenue.
“Let me cut to the chase: We have been told to reduce the newsroom by 100 positions between now and the end of the year.” Times Executive Editor Bill Keller told employees in a memo obtained by Reuters.
The New York Times will cut 100 positions in its newsroom by the end of the year, Executive Editor Bill Keller told staff on Monday. This is the second time that the paper has taken this unfortunate step, having cut 100 positions last year (though, as Richard Perez-Pena reported in his story on nytimes.com, other positions were added so it was not a net reduction). Thing is, the TImes already cut pay for journalists and other employees this year in an attempt to forestall cuts. So… it’s not good news, but it is fit to print. Here is Keller’s memo:
I had planned to invite you to the newsroom and break this news in person today, but I’ve been hit by something that seems to be the flu. Though I strongly believe in delivering bad news in person, I don’t want to add insult to injury by spreading infection.
NEW YORK (Reuters) – Gannett Co Inc, the largest U.S. newspaper publisher, reported a lower quarterly profit and a 28 percent drop in publishing advertising revenue on Monday, but the results were better than expected and shares rose more than 8 percent.
Gannett’s profit beat reflects painful attempts to slash expenses during the past year, from furloughing and laying off workers to slashing pay. Similar moves at other publishers, such as McClatchy Co, which reported results last week, have helped them also beat Wall Street’s forecasts.