Many newspaper publishers say the ad sales slump has stopped, but not at Wapo: Both print and Web ad declines accelerated over the last quarter. Newsweek, meanwhile, saw its ad sales drop by half.
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.
Time Inc. has spent the past few months convincing other publishers to join a new joint venture aimed at a market that doesn’t really exist yet–magazine-like publications to be delivered via e-readers like Amazon’s Kindle and Apple’s rumored tablet. Publishers like the idea. What will Apple and Amazon say?
Rupert Murdoch has been pushing The Wall Street Journal to raise its prices. Here’s one way to try it: Levy an additional fee for subscribers who want to use the paper’s iPhone or BlackBerry apps.
Have you bought a Kindle? Do you plan on buying a Kindle? If you answered yes to either question, you’re part of a not-that-small group: JP Morgan estimates that some 10 million Americans either own one of Amazon’s e-book readers or plan to get one soon. Meanwhile, whatever happened to Amazon’s plan to bundle newspaper subscriptions with its DX reader?
Good news, Boston Globe fans: Your paper is going to remain extant. Probably. Bad news, Boston Globe editorial workers: You’re getting a 23 percent pay cut.
We all know tomorrow’s newspapers won’t be printed on paper, but delivered via the Internet. The question for today’s publishers is whether consumers are going read them on iPhones or Kindles. But it shouldn’t be a question–smart phones like Apple’s are winning this one hands down.
Just to be clear: Google still doesn’t plan on bailing out the New York Times or any other paper. As a buyer, at least. CEO Eric Schmidt reiterated that position, which he’s already made a couple times this year, in an interview with the Financial Times. Schmidt did allow, though, that Google had at least mulled the idea at one point.
Many of you are just hearing Josh Marshall’s name for the first time, following the New York Times’s admission that columnist Maureen Dowd “failed to attribute” some of her column to him. But that’s a shame because Marshall’s site is noteworthy on its own merits: It’s a self-funded, profitable new-media site that does both blogging/aggregation and real reporting.
This is what passes for good news in the newspaper business these days: Someone bought some shares of one of the industry’s biggest companies. Alas, even that story is old news. And the headlines coming out of Gannett later this week won’t be pleasant either.
The Associated Press is fed up with… the Internet, apparently. And it’s going to do… something about it. At the news-gathering co-op’s annual meeting today, AP chairman Dean Singleton let rip a sort of hellfire-and-brimstone speech in which he announced the AP’s vague plans to stop unnamed scoundrels from making money from their work.
Unstated but obvious public enemy number one: Google.
It won’t fill the gaping hole opening up in American journalism, but it’s better than nothing. The aggregator has earmarked the money for a handful of staff journalists and a network of freelancers. Hope it’s ready for a crush of resumes.
Everyone who wondered why Randy Falco and Ron Grant were still running AOL finally got an answer today: Time Warner was lining up their replacement. Google sales chief Tim Armstrong becomes chairman and CEO of the troubled Web property, effective immediately.
Eli Broad is reportedly worth $5.2 billion, down from $6.7 billion last fall. Why does he want to burn more money on a regional newspaper?
It’s a done deal: Billionaire Carlos Slim has given the cash-strapped New York Times $250 million worth of breathing room. At a very high price. Under terms of a deal announced late Monday night, the Mexican telecom magnate has lent the Times $250 million at 14 percent interest–which means the Times will now have to come up with an extra $35 million each year.
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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