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Monday May 05, 2008

Media Fairy Tales: Wealthy Colleges to Buy NYT

newyorktimes.jpgWith The New York Times facing declining revenue and worse expectations, media watchers across the industry are developing strategies to prevent the Gray Lady from suffering the fate of The Wall Street Journal. The latest: colleges and universities to the rescue.

In the current issue of the Chronicle of Higher Education, Lee Smith, a former senior writer at Fortune, makes an impassioned plea that the seven wealthiest private universities should pool their resources to purchase the paper:

What if the Sulzbergers could sell their shares to a trustworthy investor, one that was interested in maximizing intellectual value rather than financial value? The endowments of the nation's seven wealthiest private universities — Harvard University, Yale University, Stanford University, Princeton University, the Massachusetts Institute of Technology, Columbia University, and the University of Pennsylvania — would be that reliable proprietor. At the end of the most recent fiscal year their combined endowments totaled just under $114-billion. If each university put three percent of its endowment in a pool, the sum of $3.4-billion would very likely be enough to buy the paper. At that price the current shareholders, Sulzbergers and non-Sulzbergers alike, would receive a premium of $1-billion above the market price.

Smith writes the goal of purchasing the Times "would be to help ensure the continuing availability of the kind of information that helps make intellectual life possible," but doesn't abandon the money aspect completely, advocating that "for the CEO to keep his or her job, the Times would have to pass some sort of financial test, such as being at least marginally profitable in any five-year period."

Our favorite line: "If the Bancrofts thought the news business had a financial future, they might not have sold to Murdoch." Agreed.

Friday May 02, 2008

NYP, NYDN Sharing Heds

newyorkpapers.jpg

C'mon guys, you're not even trying. At least we have an excuse for being tired and uncreative.

Thursday May 01, 2008

Cure to Circulation Woes: Learn Another Language

ElDiarioLaPrensa.jpgAcross the nation, newspaper circulations continue to careen downwards. At least one paper is bucking the trend or, perhaps more appropriately, esta como perro en barrio ajeno.

According to the Audit Bureau of Circulation, El Diario La Prensa, New York's leading Spanish-language newspaper, saw its circ jump 7.6 percent for the six-month period ending in March 2008. The increase was the highest for any paper with a circulation of over 50,000, greatly outpacing The Times of Munster, Indiana (3.01 percent increase) and The Cincinnati Enquirer (2.93 percent).

El Diario, celebrating its 95th anniversary this year, has a daily circulation of 53,856. Muy bueno. Maybe the paper needs a media reporter.

Wednesday Apr 30, 2008

And Another One Gone: WaPo Home Editor Takes Buyout

From the tip box: Belle Elving, home editor of the Washington Post, will take a buyout. In an email to FishbowlNY, she writes, "Nothing surprising. Just that the timing is right for me."

Our brother blog, FishbowlDC, is straight up killing it covering the story, so head there for more details.

Tuesday Apr 29, 2008

Dow Jones Committee Condemns News Corp. Handling of Brauchli Resignation

Add another chapter (and headache for Rupert Murdoch) to the imbroglio surrounding former Wall Street Journal managing editor Marcus Brauchli's departure: A report published this afternoon on WSJ's own site — essentially pitting News Corp. against Dow Jones in a moral mano y mano —asserts that the "special committee established to oversee The Wall Street Journal's editorial integrity said its members should have been informed earlier that the newspaper's managing editor, Marcus Brauchli, had been pressured to resign." But the damning article alone wasn't all...

continued...

FT Fetes New York

Sheryl Sandberg (FT) 2.jpgLast week, the Financial Times — clearly not content to take over the Middle East — held its 5th annual "Meet the FT New York" party at 30 Rock. Sheryl Sandberg, the new COO of Facebook, gave the keynote, while guests included Dow Jones EVP and CFO Stephen Daintith, Jane Friedman and Thomas Matussek, Ambassador of Germany to the UN (not as cool as a Cardinal, but whatevs). The media kids — NYT's Tim Arango, Jonathan Wald, our own Laurel Touby and hubby Jon Fine, Gloria Steinem, Jason Rapp, Steve Rattner, etc. etc. — came for the Bellinis and stayed for the Blinis with American Caviar and Creme Fraiche.

And there were pictures (and more names)...

continued...

Monday Apr 28, 2008

Financial Times 'Utilises' Resources, Expands to Middle East

FT.jpgStarting tomorrow, the Financial Times will extend its reach further with the launch of a Middle East edition. Middle East correspondent Andrew England and Gulf News editor James Drummond will be based in United Arab Emirates capital Abu Dhabi, while Simeon Kerr, Gulf Business correspondent, will write from Dubai (where an FT edition has been printed since 2003). Roula Khalaf, the London-based Middle East editor, will oversee the project.

The launch is consistent with the Financial Times' global expansion strategy and complements existing operations in the Gulf region. The Financial Times now has dedicated editions for the UK, Continental Europe, Asia, US and the Middle East and is printed in 24 cities across the world.

Full release after the jump.

continued...

Free Fallin' Newspaper Circulation Continues

spiral.jpgHooray, the latest newspaper circulation numbers are here. And to the surprise of no one, the picture ain't pretty: The New York Times' Sunday edition lost 9.2 percent of its circ while its daily counterpart fell 3.8 percent. The Washington Post, the Los Angeles Times, the Boston Globe, the Miami Herald and pretty much every other paper in the entire country saw circulation numbers tumble further down the slippery slope.

Rupert Murdoch got some mixed news, as his Wall Street Journal bucked the trend with a 0.3 percent increase, while the money pit that is New York Post saw its daily circ fall 3 percent daily and its Sunday circ plummet 8. But hey, at least the fact checking is flawless.

NYP Correction Brings LI Woman Back to Life

nypmasthead2.jpgOn Sunday, the New York Post ran a story about an increase in the number of medical mistakes. In typical Post fashion, the article started with a bang — "Horrific medical mistakes kill, maim and sicken New Yorkers in alarming numbers." — and got increasingly dramatic, eventually telling the story of Darrie Eason, a Long Island woman who passed away last May after an unnecessary double mastectomy.

One problem: Eason's still alive:

A story headlined "Unsafe Hands" and a photo caption in yesterday's Post wrongly reported that Darrie Eason, of Long Beach, LI, died last May following a double mastectomy at Mercy Medical Center in Rockville Centre, LI.

Eason did not die.

Another, unidentified woman died in the Mercy case.

The mistake has been corrected online.

Wednesday Apr 23, 2008

Sin City Execs Cash in at Greenspun Media

cover102606.jpgGreenspun Media, publishers of Las Vegas Weekly and In Business Las Vegas, rewarded a pair of executives with promotions. Bruce Spotleson, formerly the founding executive of both pubs, is the new group publisher, while Nelson Oshita will oversee day-to-day operations of Weekly as associate publisher. He had been advertising manager there.


Previously

LAT Editor Staffs Up, Naming ME and Exec. Ed

Brauchli Resigns: The WSJ Release

Brauchli Resigns: The Memo

Marcus Brauchli Decides Rupe Street Journal Isn't for Him

The AP, Airport Security and Auguste Rodin

Singapore Paper Recruits Laid Off NYT Staffers

Fake Ann Coulter Terrorizes News Corp.

My Wall Street Journal Editor: WSJ Officials 'Pretty Thin-Skinned'

USA Today Discovers IM, Builds Useless Feature

John Noble Wilford to Take Times Buyout

All You Wanted to Know About NYT Buyouts

AP Turning Into Us Weekly?

Your 2008 Pulitzer Prize Winners

David Carr and the Never-ending List of Reader Questions

Dek of the Day: Six Degrees of Kevin Bacon

Cory Booker's Press Office Hates You

Trouble Abroad II: Journalists, Tibet & The Olympics

Trouble Abroad I: NYT Journalist Detained In Zimbabwe

Hesser on Leaving NYT: 'The Economy is Tanking -- It's the Perfect Time to Start a Company'

Tyler Brule Returns To The Financial Times

WSJ U.S. Edition to Hit London Streets

Jared Kushner Wants Newsday?

Obama's Pastor Writes In To The New York Times

Life (And Journalism) Imitates Wikipedia Again

Newsweek Buyouts/Job Cuts Intro

When Uptown Goes Downtown

Did The New York Times Steal A Story From Newsweek?

FishbowlNY Inspires A NY Times Correction

The New York Times Gets Rickrolled

The WSJ And Financial Statistics: You Can't Please Everyone

Elaine Sciolino's Parisian Farewell

Jimmy Breslin's Still Bitter, Angry

A Small Slice Of Wire Service Photog Life

NY Times Skates Around Johnny Weir Sexuality

New York Times Hires Goel To Boost Tech Coverage

American Journos Expelled From Tibet

Brit Papers Go Ga-Ga Over Times "Drunkorexia" Trend

New York Times: Total Company Revenues Decrease, Internet Ad Revenues Increase

Our New Governor... Well, He Just Admitted To An Affair Too.

Masthead Changes At Financial Times

New York Times Overlooks Drama Freelancer Writing About Her Own Theatre

USA Today Reporter In Legal Trouble

WaPo Gets Prophetic About Chris Rock Rape-Claim Call

Farm Animals Ruin Gaza Photo Op With Sex, Defecation

Your New York Post Headline Of The Day: STD Joke Edition

Memopad Distilled: ESPN Edition

"The Opening Line of My Obit, 'Bill Keller Who is Not Kristen'"

Sinbad vs. Hillary Clinton

Fredric U. Dicker, Victorious

Keith Kelly Distilled: Moody About Moody's Edition

Memo Pad Distilled: Dwell Edition

Brooklyn Paper: R.I.P. Polish Greenpoint

It's Easy To Make Fun Of Bill Kristol...

Adventures In News Corp. Land

Metro: Still Publishing, Still Hiring

Your New York Post Headline Of The Day: Baby Got Back Edition

Memo Pad Distilled: Beckham Edition

Keith Kelly Distilled: Bloomberg Edition

Adventures Among The NYT Bloggers II: Of Reptilian Aliens And Anna Wintour

Adventures Among The NYT Bloggers I: Nick Kristof Hates You

Annenberg Election Survey: Most Doubt NYT McCain, Lobbyist Story

National Enquirer: Patrick Swayze Dying Of Cancer

Battle Of The "Urbanites"

Your New York Post Headline Of The Day: RPG Edition

Pete Hamill Reads The NY Papers (Online) Every Couple Of Days

Your New York Post Headline Of The Day

Jeff Jarvis Readers Are Cynical

Howell Raines: The Economic Model Underlying Newspapers Is Dying

NYT: Revs Down, Share Price Up

Why We Love The New York Post

FBNY's Official Guide To The Newsday Layoffs

NY Times: Russian President-To-Be Charming And Likes Deep Purple

Changes At The NY Times

Newspaper Columnists Discover Blogs, Metafilter

Pulitzer Winner: The New York Times = Tonya Harding

Rumble At 620 8th Ave: Ochs Sulzbergers Vs. Hedge Funders

War At The Free Newspaper: Metro Faces A $$ Lawsuit

DA Charles Hynes: I Don't Regard Bob Herbert's Attack On Me As Bad Press

Fish Food

Dear Abby: Shut Out Of The NY Market

Cathy Horyn's Milan Fashion Week

Saudi Hip-Hop, The WaPo & NYT Foreign Features

Stengel: Why Do Newspapers Endorse Candidates?

Weisberg: McCain Piece Pulling Times Into "Politics and Sex Stories"

US Scandals Drive UK Newspaper Traffic

Canadians Do Hard Hitting Exposes Differently

Fish Food

How To Castrowatch NY's Dailies

Punk Band Learns You Can't Say "Pissed" In The Times

George Polk Award Winners Named

El Diario Using AP To Cover Castro

Brian Stelter's the Only Reporter the NYT Needs

Massive Newsroom Cuts At The Times

Charlie LeDuff Is Back

The NY Daily News Gets Color

Newspaper Outs S&M Bondage Strangulation Victim

Burmese Journalists = Poor Bastards

Romney Drops Out... Who Picks Up The News?

How Many Newspapers Mistaked Lez Zeppelin For The Real Thing? A Lot.

The Herald Tribune Discovers No-Tell Hotels... And Likes 'Em!

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