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Posts Tagged ‘The New York Times Co.’

Glenn Beck Loses More Advertisers|Sports Reporters Take A Gamble|Taylor The Favorite For Globe|Is Kushner Looking To Sell The Observer?|Consumerist Probes Cash4Gold

AgencySpy: Glenn Beck has lost a total of 57 advertisers.

Editor & Publisher: Ironic news of the day: a survey has found that 40 percent of sports reporters say they bet on sports, with 5 percent betting on sports they cover.

Boston Herald: Stephen Taylor may be the favorite to buy The Boston Globe from The New York Times Co., experts say.

Gawker: Is Jared Kushner looking to dump The New York Observer?

The Wrap: Consumer rights blog Consumerist.com is not one to take a legal threat lying down. After Cash4Gold added the site to its lawsuit against two former employees in an effort to remove criticism of the company from the Web, Consumerist wrote its first investigative piece ever about the company’s practices.

Globe Readies For NYTCo. Execs’ Visit

nytco.pngThe New York Times Co. Chair Arthur Sulzberger Jr. and CEO Janet Robinson informed staff members at The Boston Globe yesterday to expect a visit on September 9, The Boston Herald reported.

Robinson and Sulzberger will be in town for two all-staff “business update” meetings, the execs told Globe staffers in a memo. But they shouldn’t expect a very warm reception. Tensions are still high between the Boston paper and its New York-based owners, and there is still uncertainty over future layoffs and whether the Globe will be sold.

Dan Totten, the president of the paper’s biggest union, which rejected the Times Co.’s concession plan in June, told the Herald that people are considering picketing outside for the executives’ visit. However, the execs said they will be taking questions, alongside Globe publisher P. Steven Ainsley.

Hopefully, Globe employees will get some answers.

Times execs. can expect a chill at Globe meeting - Boston Herald

Earlier: Times Co. Admits Boston Globe Is Up For Sale While San Diego Paper Owner Makes A Bid

Would You Buy Wine From The New York Times?

wine.jpgSome media companies create new revenue streams by launching iPhone apps. But The New York Times Co. is not like all the rest. In an effort to drum up new business, it’s launching a wine club.

An article in today’s New York Times lays out the new service:

The new venture, called The New York Times Wine Club, will offer members a selection of wines at two price levels, $90 or $180 per six-bottle shipment, and customers can choose to have wine delivered every one, two or three months.

Admitting that the wine club is “an unusual brand extension” for the Times, the article went on to say that it was only one of many options the paper had considered.

“Newspapers don’t have the same revenue sources that they used to,” Thomas K. Carley, senior VP of strategic planning for the Times Co. told the paper.

To avoid any appearance of conflict, the club will not be affiliated with the paper’s food and wine sections, although the the club’s Web site will feature Times wine stories and “members will receive booklets of Times recipes from its archive meant to be paired with each shipment of wine,” the article explained.

What other revenue sources could the paper seek out next? Pairing up with travel agents to provide Times-approved trips? A line of practical luggage and briefcases? New events and conventions featuring Times writers and editors? An innovative iPhone app?

Okay, some of those ideas are more practical than others. Can you think of any more?

Times Company Creating a Wine ClubNYT

What The Globe Can Expect If Platinum Equity Buys

gores.jpgLast week, The Boston Globe revealed that its owner, The New York Times Co., had been approached by a third group of potential buyers interested in purchasing the beleaguered New England paper.

According to the Globe, the potential buyer is investment firm Platinum Equity, run by billionaire Tom Gores. The firm has already delved in to the news business with the purchase of The San Diego Union-Tibune earlier this year. And what Platinum and Gores did at that paper may come to bear if they get a stab at the Globe.

In a profile of Gores and Platinum this weekend the Globe said the purchase of the Union-Tribune resulted in aggressive cost-cutting, a Platinum signature:

“Platinum has replaced or laid off six of the Union-Tribune‘s top eight managers since taking over, and it cut 18 percent, or 192 people, of the staff three days after the deal was completed. It has also hired consultants to monitor the productivity of reporters and editors and is looking to rent out the top two floors of the newspaper’s headquarters.

“There are fewer news pages, a stand-alone Sunday opinion section has been eliminated, and some of the paper’s most seasoned journalists are gone. Newsroom staffing is about 200 employees, down from 250 at the time of the sale, and another round of layoffs is expected next week…”

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In Talking About Earnings, NYT Co. Avoids Boston Globe Sale Question

nytco.pngThe New York Times Co. released its second quarter earnings today, posting a net income of $39.1 million compared to $21.1 million during the same quarter last year. Total revenues were down 20.2 percent to $585.4 million, with ad revenus seeing a 30.2 percent drop. However, the company managed to cut operating costs by 20 percent during the quarter and they plan to cut $450 million in costs throughout 2009.

Those operating costs were undoubtedly decreased through the significant cuts made at the Boston Globe, including consolidating printing facilities in Boston, decreasing compensation to non-union managers and renegotiating union contracts. Contracts renegotiated with a number of unions during the quarter brought $10 million in savings, while the recently approved contract with the paper’s largest union, the Boston Newspaper Guild, brought an additional $10 million in savings this month, CEO Janet Robinson said.

But in an earnings conference call today, Robinson said that the company was not commenting on whether it was looking to sell the Boston paper, noting that cost cutting measures and increased newsstand pricing had helped “put it on stronger financial footing.”

“The Globe is on a path to a more secure financial future,” Robinson said. “We are deeply grateful to all of our colleagues in Boston, both union and non-union, for the sacrifices they have made.”

Robinson did note that the Times Co. is in the midst of selling its stake in the Boston Red Sox, a sale she said should be completed by the end of the year. Another thing to keep an eye on: Robinson said the company is currently researching new models for increasing its digital revenue stream. Currently, they’re looking at metered and membership models, she said.

Boston Globe Union Approves Concessions

boston-globe-logo.jpgAfter weeks of uncertainty, the dispute between The Boston Globe‘s owner, The New York Times Co., and the paper’s largest union, the Boston Newspaper Guild, has finally reached an end.

Yesterday, the guild overwhelmingly approved cuts negotiated last month, in a 366 to 179 vote.

According to the Globe, the new contract includes pay cuts, furloughs and unpaid vacations, which will reduce earnings by about 9 percent. There are also deep cuts in health care and retirement benefits, a pension freeze and the “elimination of lifetime job guarantees for about 170 veteran employees.”

The guild, which represents nearly 700 editorial, advertising, and business office workers at the Globe, rejected the first concessions proposed by the Times Co. by only 12 votes in early June. As a result, the paper’s owner implemented a 23 percent pay cut for guild members. Those employees that have been dealing with the pay cut since last month will be reimbursed “for most of the difference between the lower and higher pay cuts,” the Globe reported. The company will be paying for this difference by “making a one-time cut in its union healthcare contributions,” the paper added.

The Times Co. has also put the Globe up for sale, and some potential buyers have already come forward. A sale might be coming soon, now that the employment dispute has been resolved.

Meanwhile, The New York Times reports that the approval of these concessions may lead to layoffs as the Times Co. prepares to sell the paper.

Bloomberg Tries To Strengthen Dying Media Industry

pressconf.pngToday, Mayor Michael Bloomberg announced eight new initiatives under his MediaNYC 2020 program, designed to promote innovation in the media industry and draw talented media companies and employees to New York in the hopes of strengthening the dying industry that was once at the core of the city’s success.

“New York City is the media capital of the world, but — with the industry undergoing profound changes — it’s incumbent on us to take steps now to capitalize on growth opportunities and ensure we remain an industry leader,” Bloomberg said.

Bloomberg’s administration said the initiatives will create around 8,000 jobs in the sector and support its growth for the next 10 years. Currently, the media industry employs 300,000 New Yorkers, or nearly 10 percent of the city’s private workforce, accounting for $30 billion in annual revenue. However, although the city is chock full of huge traditional media companies like The New York Times Co., Conde Nast, Hearst and Time Inc., to name a few, now almost half of those employed by media companies currently work for small to mid-sized outfits with less than 500 employees.

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Boston Globe Saga Continues: Another Meeting Set For Today

boston-globe-logo.jpg As The Boston Globe‘s largest union, the Boston Newspaper Guild, and the paper’s owner, The New York Times Co., get ready to meet today to continue negotiations over wage and benefit cuts, the New York Times takes an in-depth look at the Boston paper’s union struggles over the last year.

The drama started a year ago, when Times Co. execs visited Boston and revealed that Globe unions had been asked to agree to deep cuts — something many employees had no idea about. While some unions had apprised their members of what was going on, the guild had not.

This fact sets the stage for negotiations earlier this year, when all but one group approved Times-offered concessions in order to save their jobs and the flagging paper. But according to today’s article, the guild didn’t keep its own members in the loop.

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Today on the Menu: Can The Kindle Save Newspapers?

mmm_2-3.gifToday on the mediabistro.com Morning Media Menu, we look at the newspaper industry.

The New York Times Co. works out a deal early this morning with Boston Globe‘s biggest union — signaling the paper may be save. Is this a victory for the newspaper industry?

And how about the Kindle — can the introduction of its third incarnation continue saving newspapers, one paid subscription at a time? Also, it looks like the Kindle may be headed toward a hardware competition: with News Corp. head Rupert Murdoch.

You can listen to all the past podcasts at BlogTalkRadio.com/mediabistro and call in at 646-929-0321.

Newspaper Circulation Falls Another Seven Percent

newspapers04.28.09.jpgThe Audit Bureau of Circulations released its report on the state of the newspaper industry for the six-month period ending March 31, 2009 and findings include a seven percent decrease in daily circulation to 34,439,713. Sunday circulation dropped more than five percent to 42,082,707.

The Boston Globe, which might be shuttered by The New York Times Co., saw circulation fall more than 13 percent (daily) and 11 percent (Sunday).

Of the New York-region papers, Rupert Murdoch‘s The Wall Street Journal fared the best, as circulation actually increased by 06. percent. The New York Times (3.5 percent), Newsday (7 percent), the Daily News (14 percent), and the New York Post (20 percent) all posted drops.

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