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Posts Tagged ‘Rafat Ali’

So Far, The iPad Is Not Saving Journalism

time_app_ipad.jpgWhat we really need here is a “Duh” category: At the end of Day One of Year One, A.iP. (After iPad), free big media apps are doing well but “are barely present in top paid apps,” Rafat Ali at paidContent reports.

Ali adds:

But wait a sec, wasn’t this supposed to be the platform for big media’s paid strategy? What happened? Again, stretching the analysis a bit in these early hours after the launch, one guess is that users realize they can get all the big media content on their browsers anyway, so what’s the point in paying for them, nevermind all the whizbang and interactivity the apps provide. The Safari browser is a full browser, like the iPhone/iTouch, but it is also a bigger, more legible screen. It doesn’t take rocket science to extrapolate from here. We’ll see if this holds true in a month or two, when a fuller array of apps will be available.

TIME’s app did make it up to #17 in the iPad’s list of top grossing apps, the highest a media company made it. That app charges $5 per weekly issue. It’s also listed as the top paid iPad app in the media category, beating out a bunch of paid RSS readers and aggregators.

It’s worth remembering that this thing has only been out for two days and things could easily change as more people stop playing around with their toys and figure out how they’re actually going to use the dang thing.

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Sorry, Jim, But You’ll Have To Wait For Your Raise

TheStreet.com has amended founder Jim Cramer‘s contract, reducing his bonus and delaying the salary increase he was supposed to get on 1/1/2010. Now poor “Mad Money” Cramer will be stuck making only $780,000 through the first half of the year. He’ll have to wait until July 1, 2010 to get bumped up to $936,000 per half year or $1,872,000 annually.

Also, his bonus will be only $1.2 million instead of the $1.4 million he was going to get.

PaidContent’s Rafat Ali notes that TheStreet.com has been in cost-cutting mode and this new contract could be a part of their cuts.

It is amazing that delaying this guy’s, uh, 13 percent raise probably lets TheStreet retain five more staffers (we’re just guessing at numbers here). And yes, we know that Mr. Cramer works very hard—look at him! Really, you can’t say this guy isn’t busting his ass. And his vocal chords.

PaidContent’s Rafat Ali Talks Entrepreneurial Journalism

PaidContent founder Rafat Ali talked shop with journalism grad students at USC Annenberg’s Journalism Director’s Forum.

He says he graduated from J-school and nobody wanted to give him a job, so he started blogging “to raise my own profile, an interactive resume.” Then the site, which covers the business behind online media (and which we read religiously), took off.

His advice for J-students: “Try to get some experience in editing. Because editing is one of the first functions to go. If you edit each other’s stories, you’ll get some experience in that.”

Warning: The sound quality is iffy, so you’ll need some patience for this hour-long clip. (We skipped the first five minutes of intro for you, to save you some precious time. You’re welcome.)

McGraw-Hill Gets Ready To Sell BusinessWeek

PaidContent reports that McGraw-Hill has hired investment bank Evercore Partners to help it sell off BusinessWeek magazine. Potential buyers include Bloomberg and News Corp/Dow Jones, but any buyer would have to be willing to take on the magazine’s losses: it lost $20 million last year and could lose $50 million this year.
businessweek cover
Rafat Ali at paidcontent reports:

The key, according to Roland DeSilva, managing partner at media investment bank DeSilva & Phillips (and a former exec at MGH), who I spoke to last week on this, is that MGH would have to move beyond positioning it just against Fortune and Forbes, and look at the full digital spectrum of options covering business and finance. Valuation will be very difficult, and the buyer is going to have to determine of the future of the magazine, by making a judgement of the value of information BW delivers that makes it different and how they deliver it digitally, he said.

BusinessWeek is 80 years old this year and employs almost 190 editorial staff. Its ad pages last quarter dropped almost 40 percent year-over-year, and it and the rest of McGraw-Hill’s Information and Media Group saw revenue freefall 76.4 percent to $2.8 million.