No surprise that Americans are dropping their newspaper subscriptions, as a new batch of numbers from the Audit Bureau of Circulations showed yesterday. But before you file this under “death of newspapers,” something to ponder for a second: This might not be the worst news in the world.
What’s one of the biggest names in magazine publishing worth? These days, maybe $5 million.
That’s the high end of the range Bloomberg will be paying for BusinessWeek, reports BusinessWeek. Next question: How many of the magazine’s employees stay on once the deal closes later this year? BusinessWeek publisher Keith Fox can’t make any assurances. But he does call the deal “exciting.”
Even under the best of circumstances, Amazon’s new Kindle DX wouldn’t “save the newspaper business.” But since the newspapers are desperate to protect their dying print business, this thing may never get off the ground at all.
Time Inc. is cutting something like 600 employees, but for the past few weeks it has been doing so in small steps: 10 here, 30 there. That will change today when up to 250 people at Time Warner’s magazine unit are expected to get pink-slipped. Leaving the company along with them, executives from Cooking Light and Southern Progress.
The New York Times is in lousy shape, so it needs to sell off About.com, the kind-of-portal, kind-of-blog-aggregator it bought from Primedia in 2005. So says Jason Calacanis, whose Mahalo.com is a kind-of-portal, kind of blog-aggregator. Not true, say two people familiar with the Times and About.
Peter Kafka has been covering media and technology since 1997, when he joined the staff of Forbes magazine. Most recently, he has been the managing editor of the tech and media Web site, Silicon Alley Insider.
Here is a statement of my ethics and coverage policies. It is more than most of you want to know, but, in the age of suspicion of the media, I am laying it all out.
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