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Archives: October 2009

Layoffs Expected As Time Inc. Looks To Shed $100M

time inc.jpgWe had hoped that there would be no more bad news this week. But rumors of impending layoffs at Time Inc. have gained steam throughout the week, with the latest news coming from The New York Times.

Stephanie Clifford reports that as its parent company Time Warner prepares to report its third quarter earnings next week, the magazine publisher is expected to announce that it will cut $100 million in costs. Anonymous sources told Clifford these cuts will “come largely from layoffs,” although a union rep said he hadn’t heard of any coming next week. (A number of Time Inc. employees are covered by a union contract.)

$100 million is a lot, but not compared to what Time Inc. is predicted to report in decreased revenue during the third quarter. As Clifford writes:

Michael Nathanson, an analyst at Sanford C. Bernstein & Company, said that he expected third-quarter revenue at Time Inc. would fall about 19 percent, to $900 million.”

Time Inc. to Cut $100 Million; Extensive Layoffs Are ExpectedNew York Times

Earlier: Time Inc. Staffers Next On The Chopping Block?

The FishbowlNY Newsstand: Your Morning Glance

GalleyCat Readers Give Back|Bon App Raises Rate Base|Boston Globe Gets New Publisher|Gawker May Hire New Women

GalleyCat: GalleyCat readers band together to donate audiobooks to military personnel overseas.

WWD: Gourmet‘s subscribers are now receiving Bon Appetit, and the surviving Conde Nast epicurean magazine will be raising its rate base 15 percent, to 1.5 million from 1.3 million, in January.

New York Times: Boston Globe publisher P. Steven Ainsley is stepping down from his post. He will be replaced by Christopher Mayer.

Mediaite: Gawker gets an estrogen injection: the site is testing out two women for its night shift editor slot.

Local Telemundo Station Names New Vice President In Charge of Content

Jose Morales new shot.JPG
WNJU, Telemundo‘s New York local station, has appointed Jose Morales to oversee digital and broadcast content. Previously, Morales was Director of Digital Content for Telemundo Local Media and his work has won the network 2 Emmys, making him an ideal candidate to oversee the WNJU’s day to day operations.

Full press release after the jump.

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Esquire Continues To Bring Multimedia to Print Issues

MK-AZ169_advert_DV_20091028151855.jpgLast September, Esquire raised eyebrows with its release of an “E-ink” 75th anniversary cover, which featured a digital display on the front of the Hearst publication, as well as a digitized ad for Ford on the inside cover. Cheap gimmick or the future of print journalism?

Well, at least it wasn’t a one-time trick. A year later, Esquire is back with another attempt at bringing technology into print, instead of the other way around.

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Meredith’s Revenue May Be Down, But National Media Group’s Profit Sees Growth

meredith new.pngMeredith Corp., publisher of Better Homes and Gardens and Ladies’ Home Journal, released its first quarter 2010 earnings results this morning, reporting revenues were down to $332 million during the quarter, compared to $364 million last year.

However, the company’s national media group saw profits rise 14 percent to $39 million, although revenues dropped to $272 million during the quarter compared to $294 million during the same period last year. Advertising revenues also dropped five percent to $137 million, although the company was quick to point out that the first quarter was “the third consecutive quarter of advertising performance improvement.”

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Possible Job Cuts Ahead As Media General Mulls Consolidation

media general.jpgOur sister blog MediaJobsDaily has a tip that publisher Media General is “planning to consolidate the copy-editing and design functions for most of its papers into a central location, which would ultimately end in reducing staff.”

Media General owns 21 daily newspapers and more than 200 specialty publications, including community weeklies (some of which are already being edited out of a central location, says MediaJobsDaily), and employs more than 5,000 staffers company-wide. A consolidation of this kind would likely affect quite a few.

MediaJobsDaily: Rumor: Media General Plans To Consolidate Copy Editing, Designing, Thus Cutting Jobs

Bastiat Prize for Journalism Awarded to John Hasnas

basss.jpgLast month we posted some of the finalists for the Bastiat Prize for Journalism, awarded by London think tank The International Policy Network. This year was notable in that, for the first time, the award included a category for online journalists.

Earlier this week, the prize went to Georgetown professor John Hasnas for his Wall Street Journal op-ed “The ‘Unseen’ Deserve Empathy, Too.” The editorial questioned Barack Obama‘s appointment of Sonia Sotomayor to the U.S. Supreme Court based on her reputation as empathetic and understanding, which Hasnas argued was antithetical to the qualities that make a good judge.

Second place was awarded to Robert Guest, Washington correspondent for The Economist, and third went to Robert Robb of the Arizona Republic.

Full press release after the jump

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Next Up On The Layoff Watch: AP

AP logo2.pngAs it works towards its goal of cutting payroll costs by 10 percent by the end of the year, the Associated Press is likely to cut staffers, reports Michael Calderone at Politico:

“‘As first outlined by President and CEO Tom Curley last November, the AP’s goal is to reduce payroll costs by 10 percent this year,’ spokesman Paul Colford said in a statement. ‘That goal remains in place and we are moving forward carefully to meet it.’

When asked about reducing staff, Colford acknowledged that layoffs were first raised as a possibility a year ago and remain a likelihood if the goal isn’t met.”

Calderone said that early estimates had predicted that as many as 400 employees would have to be cut in order for the AP to meet its goal. Around 100 veteran staffers have already taken the company’s buyout offer.

Update after the jump

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FCC Appoints WSJ Contributor Waldman New Media Advisor

153346689_3823fcad42.jpg The FCC has named Steven Waldman as an adviser to the chairman in its office of strategic planning. According to MediaWeek, Waldman will “lead an open, fact-finding process to study the impact of technology and a weakened economy on the future of media, and make policy recommendations.”

If these policy recommendations have anything to do with the FCC’s recent proposed Net Neutrality Principles outlined by FCC chairman Julius Genachowski last month, Waldman’s past job experience puts him in a good position to weigh both sides of the argument for new Internet regulations.

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