Around the town
The New York Times
Though its advertising revenue continues to fall, The New York Times Co. made a profit this quarter, thanks to growing circulation revenue from digital subscriptions. The New York Times and The International Herald Tribune now have 699,000 digital subscribers, while The Boston Globe has 70,000. (Press release)
Despite protests and boycott threats, the Rolling Stone issue with Dzhokhar Tsarnaev on the cover has sold twice as well as a typical issue. (Adweek)
“[Robinson Meyer] may be the only college kid to actually get a job because of how good he is on Twitter.” (The Atlantic)
The New York Times has announced that it will sell its Regional Media Group to Florida-based Halifax Media Holdings, LLC for $143 million in cash. The Regional Media Group consists of 16 regional newspapers including titles like the News Chief of Winter Haven, Florida and Thibodaux, Louisiana’s Daily Comet. The back-of-the-envelope math suggests that each paper is worth just shy of $9 million apiece, or about two years of consulting work from outgoing Times CEO Janet Robinson.
Yesterday morning New York Times Co. announced in a release that it is is performing below expectations in several important financial measures for the third quarter. Total revenue is down more than expected, digital advertising revenue is up less than expected and operating costs are up. CEO Janet Robinson announced the news in person Read More
The Times has hired Arthur Brisbane as their fourth public editor.
Mr. Brisbane will quickly become a very big favorite in the newsroom, we’re sure. It appears he has experience both in the newsroom and on the publishing side.
According to a Times memo, here’s his career breakdown:
1977: Kansas City Times, Metro columnist
1984: Washington Post, Read More
The New York Times Company turned a profit in the fourth quarter of 2009, resulting in an overall profit for the year. The Times reports today that the quarter’s net income of $90.9 million allowed for “a modest profit for the year, $19.9 million, compared with a loss of $57.8 million in Read More
Why does The Times need 12 months before it introduces a metered system for charging readers for content? Or rather, why announce it so far ahead?
Speculation that an announcement was meant to be timed to the release of the Apple Tablet, rumored to be the topic of a big Cupertino “event” slated for Jan. Read More
The New York Times has a public-relations problem.
Every day there seem to be articles, and endless Web and television chatter, about The Times: The Times might shut down The Globe! The Times lost $75 million in the first quarter!
There’s only $34 million left in cash! The Times will stop printing in May! The Read More
The New York Times Guild is expected to approve a plan today that will cut 5 percent of the salaries of reporters and all other Guild members of The Times. Even though reporters were told that the plan was being pushed forward by the Times Company so as to avoid layoffs, union chief Bill O’Meara told Times employees at Read More
Today, Arthur Sulzberger, Jr. addressed New York Times Company shareholders at the company’s annual shareholders meeting. It was a week of ups-and-downs for the Times Company, with Monday’s announcement of five Pulitzer Prizes for the flagship paper followed two days later by a dismal quarterly earnings report, which saw the New York Read More