Local television stations used to be money machines for the big media conglomerates. No more. GE’s NBC Universal says its revenues dropped three percent and that its operating profits were down six percent for the last three months of 2008, primarily because of weakness at its local TV stations.
Glad to see that Google had a decent quarter. But things look grim for everyone else who makes a living selling ads, and there’s plenty of lousy news to come. Just ask Meredith Corp., which says its local TV ads are down 40 percent this quarter.
Why is Time Inc. planning on shedding six percent of its staff? The new numbers released by the magazine publisher behind titles like Ladies’ Home Journal offer a grim clue: Ad revenues are down 18 percent in the last year, and the next quarter looks equally bad.
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. Read more »
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.
D is unlike any other executive conference. Since its debut in 2003, D has brought to life the energy and excitement of the digital revolution in an unscripted, upfront and unparalleled way. Read more »
Don't miss a post! Sign up for our Daily Email and get AllThingsD.com delivered each day.
Get columns, blogs and video from D and All Things Digital on your iPhone. Download now »
