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Media CompaniesCondé Nast Gets Crisis Management Help
But, according to reports, it looks like Si Newhouse is taking the advice of Lucky publisher Gina Sanders and getting some help from an expert: crisis manager and media coach Michael Sheehan. Our sister blog PRNewser says that Sheehan "has experience in politics and finance having counseled Bill Clinton, Barack Obama, AIG during last year's crisis, Treasury Secretary Timothy Geithner and JP Morgan." We're looking forward to see how Sheehan works to put a happy spin on all the bad news that's been coming out of 4 Times Square these last few weeks. Will he return the Orangina to the shrunken staff to boost morale? Condé Nast Hires Crisis Intervention Expert --New York Post Tribune Employees Lose What Little Stake They Had Left In Company
To be fair, employees will still receive their first share allocations of ESOP, a program that gives employees options in their company. But as The Los Angeles Times noted, "those allocations won't be worth the paper they're printed on because of the bankruptcy." And the Times should know: They are one of the papers owned by the ill-fated Tribune Co., along with The Chicago Tribune. So, when the company went bankrupt, employees received shares, but now that the banks have bought out Zell, the stock (no pun intended) that the staffers put into their publication is no longer an option. Read more: Tribune to end employee stock ownership plan Earlier: Tribune Co. Files for Bankruptcy, Tales of the Tribune Co.: It's All Gone Straight to Zell MediaNews Set To Launch Pay Walls Next Year
The pay walls will first go into effect for the The Enterprise-Record in Chico, Calif. and The York Daily Record in Pennsylvania, and then may be extended to other MediaNews newspaper properties, Editor & Publisher reports. "We wanted to get sites that were not metro sites for the same reason that you don't open on Broadway," Howard Saltz, MediaNews' vice president for content development, told E&P. "But not a site that has Web traffic so small that the change would not affect anything." However, what these papers will put behind a pay wall and when exactly we can expect to see them rolled out has yet to be decided. The decision to launch the pay walls comes six months after MediaNews outlined its new interactive strategy in a May memo, paving the way for online paid content. We'll be keeping an eye on how this latest pay wall plan works out for this paper publisher, and keep you updated on any developments. This probably won't be the last we'll be hearing about publishers unveiling pay wall plans in the next few months. MediaNews To Launch Partial Pay Walls At Two Newspaper Sites --Editor & Publisher Related: Poll: Will Paywalls Save Newspapers? Tribune Co. Is Breaking Up With the Associated Press
Or will they? The Tribune Company announced yesterday that it will be conducting a trial run of its papers (mostly) free of news from The Associated Press to see if the papers can do without the service. Still, it's not much of an experiment: Sam Zell's papers will still be relying on Reuters, GlobalPost, and other international news orgs. Whatever Tribune is trying to prove here is already rendered moot on their dependence on outside news bureaus. Ironically, one of the places Tribune will be taking their news from is The New York Times, which is entering a relationship with The Chicago News Cooperative, a non-profit news organization made up of ex-Tribune employees, for content for its local Chicago edition. We've asked a similar question before in our polls, but we'd like to hear your thoughts: Can publications exist without independent news bureaus? And if not, what kind of content should publishers be willing to pay these outside services for? Layoffs Expected As Time Inc. Looks To Shed $100M
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 Expected --New York Times Local Telemundo Station Names New Vice President In Charge of Content
Full press release after the jump. Possible Job Cuts Ahead As Media General Mulls Consolidation
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 More Tribune Employees Join Chicago News Cooperative
Now James O'Shea's new project has attracted another Chicago Tribune writer, famed columnist David Greising, who will be leaving Sam Zell's publishing nightmare for more cooperative pastures. Greising was the Tribune's chief business correspondent, so it's hard not to take his departure as a microcosm of Tribune Co.'s quickly decaying structure. Greising will be joining former Tribune managing editor James Warren and former Tribune editor Ann Marie Lipinski. Tribune's Greising Joins O'Shea's Chicago News Cooperative --Crain's Chicago Business Breaking: More Layoffs Hit Forbes
We just learned that a memo went out to staff this afternoon from Steve Forbes explaining the situation:
Although the layoffs are promised to come from "across the entire organization" reporters from Forbes magazine and Forbes.com might have a glimmer of hope: BusinessInsider.com is hiring. Update: We've heard that layoffs haven't started yet, but it looks like the top level managers may already know who they have to cut and the bloodletting might start tomorrow. Know anything? Send us an email. Forbes' full memo, after the jump WSJ Tries New Pay Model Targeted To "Professionals"
Today, The Wall Street Journal, which arguably already has one of the best pay models in the biz, announced its plans to launch a new specialized version of the paper for professionals. The service, called The Wall Street Journal Professional Edition, will provide subscribers with customized content from the Journal, Dow Jones newswires and the Dow Jones-owned news database Factiva -- for up to $49 a month. The Journal describes it Professional Edition today: "WSJ Professional allows users to set up the Web site with custom feeds of news, information and alerts for the markets and industry sectors they care most about, as well as to access the regular content on WSJ.com. Dow Jones editors will select news stories and information to help WSJ Professional users dig deeper into topics of interest." Rupert Murdoch, the CEO of Journal owner News Corp., has already said that all of his pubs' Web sites will go behind a paywall within the year. Those plans, combined with the Journal's new venture might provide a model for other media companies to follow. Is this a look at what journalism will look like in years to come? Dow Jones to Launch 'Professional Edition' of Wall Street Journal -- Wall Street Journal Related: WSJ Looks To Claim Title Of Number One Paper In Circulation PreviouslyComcast Purchase Of NBCU Stake A Done Deal? Condé Nast Update: Layoffs At Glamour And A Dating Site When Will The Layoffs Start At Condé Nast? Time Warner May Sell Off Magazines Eventually, Or Not Layoffs On The Horizon For Condé Nast? Newly Reorganized Cygnus Announces New Board Time Inc. Launches Assignment Detroit B-to-B Publisher Cygnus Media Emerges From Ch. 11, Names New CEO Thomson Reuters, MTV Make Best Global Brands List PictureGroup, AP Join Forces For Photo Distribution Could Condé Nast Cut Budgets By 25 Percent? McKinsey Wraps Up At Condé Nast Two Years After Aquisition, ALM Spins Off Again Meredith Launches Video On Demand Partnership HuffPo Investigative Fund Gets Ready For Action Disney Acquires Comic Book Giant Marvel For $4B Reader's Digest Files For Ch. 11 WWD Gets New Neighbors As Condé Nast Leases Space To The Economist Reader's Digest Plans To Restructure Debt Through Ch. 11 Would You Buy Wine From The New York Times? Mourning The Loss Of Condé Nast's "Gilded Age" Meredith Repositions Marketing Approach, Debuts New Logo Would You Pay To Read NYPost.com? Cygnus Media Restructures Debt Through Chapter 11 Another Cost Cutting Measure: Condé Cuts Newspaper Subscriptions Breaking: Reed Elsevier To Sell Part Of U.S. Business Time Warner, MSLO Release Earnings Numbers Condé Nast Update: Web Site Restructuring, More Changes Ahead Condé Nast Hires Consulting Co. For "Realignment" Layoffs Avoided At Consumer Reports Publisher Gannett's Second Quarter Results Show Hope; Publishing Division's Revenues Grim Reuters Makes Journalism Handbook Available To The Public Economist Group Has A Good Year A New York Times In The Digital World Thinking Different Helps Hearst Survive Swine Flu Hits Conde Nast As Newhouse Profile Hits Newsstands McClatchy Hopes To Buy Time By Amending Debt Agreements Media Stocks: The State of the Top 13 Crown Media Holdings Gives CEO $2.5 Million to Leave Media Stocks: The State of the Top 13 Conde Nast Would Like Its Employees to Know About Swine Flu Media Stocks: The State of the Top 13 How Much Did Your Favorite Fortune 500 Media Company Lose? Awl Together Now: Balk and Choire Launch a Website Media Stocks: The State of the Top 13 Largest North American Newsprint Manufacturer Files for Chap. 11 Media Execs Take Paid Content Into Their Own Hands Media Stocks: The State of the Top 13 The Daily Beast Strikes Ad Deal With Bottega Veneta Battle of the Twitter Titans? Microsoft and Google Both Express Interest True/Slant Launches, Experiments With Sponsored Content Google CEO to AP: Why All the Fuss? TheAtlantic.com Exploring Further Acquisitions AP to Take Legal Action Against Aggregators Media Stocks: The State of the Top 13 Layoffs at Conde Nast Digital, Wired.com Hit Hardest? The Daily Beast: Advertising Deal in the Works Life.com Launches 'Comprehensive' Photo Site Sun Sets on Sun-Times Media Group HuffPo Launching Non-Profit Investigative Journalism Venture Media Stocks: The State of the Top 13 Flavorpill Announces Public Launch of Daily Dose 2010 Olympics Can't Come Soon Enough for NBC Layoffs Come to English Papers Media Stocks: The State of the Top 13 Conde Facing Another Round of Cuts McClatchy N.C. Subsidiary to Cut 78 Positions Media Stocks: The State of the Top 13 Ann Moore Understands the Internet Has CBS Figured Out the Online World? Media Stocks: The State of the Top 13 Chuck Townsend: 'We Have to Make Additional Difficult Decisions to Manage Costs' CNNMoney Expands Online Video Presence With Eight New Shows Is it Ever Okay to 'Sponsor' Blogger Coverage? Reuters to Launch Video-On-Demand Service Hatchet Falls Once More at HFMUS? mediabistro.com Introduces MediaJobsDaily Media Stocks: The State of the Top 13 Breaking Media Launches Edificial Thomson Reuters Increases Dividend Conde Nast: 'Should Have Cut Back 20 Percent' Gawker Named 'Most Valuable Blog' Media Stocks: The State of the Top 13 Media Stocks: The State of the Top 13 Rupe's Second-in-Command Getting Ready to Depart? NBC Now Selling 2010 Olmypics Merch New Chicago Sun-Times Chairman Lives in Dallas Associated Press Teams Up With NCAA Recessionwire.com Launches: 'We Are the Ultimate Lemonade Makers' NYMag.com Partners With StreetEasy.com |
Turning the Page For New York Media
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