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Posts Tagged ‘The Worcester Telegram & Gazette’

FishbowlNY’s 2009 Lists: New York Media’s Biggest Business Decisions

4 times square.jpgNew York is home to some of the biggest media companies in the country, like Condé Nast, The New York Times Co., News Corp., Hearst and Time Warner, just to name a few.

This year, those companies were imperiled, struggling to survive like many other companies around the world. But as print media disputed declarations that its days were numbered, these once-great companies that made their money from print pubs were fighting hard to keep their heads above water. In order to do that they made some decisions — like bringing in new investors, closing publications and selling them off. It was in no way a big year for media deals, but there were a few. Below, our list of the biggest business stories to come out of the New York media world this year.

Bloomberg LP Buys BusinessWeek

After seeking a buyer for BusinessWeek for most of the fall, publisher McGraw-Hill finally cut a deal with Bloomberg LP, which snapped up the magazine in October. The result? Bloomberg BusinessWeek, a new vision of the mag that has a new editor and a smaller staff.

After the jump, Carlos Slim invests in the Times, classical music and the Comcast-NBCU deal.

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WebNewser: announced today that it plans to use Blinkx, Metacafe, Sling Media, YouTube and 1Cast to expand distribution of its original videos, with the partner sites selling advertising against the fare for a revenue share.

New York Times: The New York Times Co. has decided not to sell Massachusetts paper The Worcester Telegram & Gazette.

Financial Times: Bloomberg LP is planning to “aggressively” seek out new acquisitions following its recent purchase of BusinessWeek.

Washington Post: Howard Kurtz profiles New York magazine editor Adam Moss.

Gawker: WWD‘s Stephanie Smith is leaving the media beat to fill Corynne Steindler‘s spot at Page Six.

NYT Scraps Plans To Sell Boston Globe

boston-globe-logo.jpgYesterday afternoon, The Boston Globe staff received a memo from the paper’s owner The New York Times Co.‘s chairman Arthur Sulzberger Jr. and CEO Janet Robinson informing them that the company no longer planned to sell the Boston paper.

The memo, which the Globe posted on its Web site, read in part:

“The Globe has significantly improved its financial footing by following the strategic plan it set out at the beginning of this year. All along, we explicitly recognized that a careful restructuring of the Globe was one possible route and, thanks to your hard work, that is precisely what has been done.”

Robinson will be visiting Boston for a townhall meeting today at 11 a.m., the memo added. We hope she will address the Globe‘s employees’ previous concerns about layoffs and other cost-cutting measures.

Meanwhile, the Times Co. is still seeking “strategic alternatives” for its other Massachusetts paper, The Worcester Telegram & Gazette. The memo and this SEC filing both emphasize that those negotiations will be wrapped up soon.

Meanwhile, the Globe‘s largest union, which first rejected the Times Co.’s proposed contract changes earlier this year, has taken action against its president Dan Totten, accusing him of misappropriation of funds. We’re interested to see how the union’s challenges will affect the representation of employees as the paper moves forward under Times Co. management.

Either way, the Times Co.’s announcement was a cause for celebration today in Boston. Case in point: the Globe‘s story about the decision today was entitled, “Sighs of relief heard as the Globe saga subsides.”

Related: Sulzberger, Robinson Explain Why Readers Embrace Print