Morning Media Mix
Save the date! The New York Times Company and John Henry have set October 15 as their target date to close the sale of the Boston Globe and New England Media Group. It was first announced that the billionaire investor had won the bid back on August 2. (Boston Business Journal)
The BBC will axe 75 more posts as part of “cost-cutting plans” laid out in 2011. It plans to shrink its staff by 600 come the 2016/2017 financial year. (The Guardian)
TIMES OF THE TIMES
Yesterday, The New York Times Co. named the BBC’s outgoing Director General Mark Thompson to the post of CEO. The company had been without a new chief executive since Janet Robinson was tossed from the coop with a golden parachute at her back in December; Times Co. chairman and publisher Arthur Sulzberger Jr. served in the position as an interim chief executive up until yesterday, when Thompson was named.
A few minutes ago, the building was struck by lightning…
Amazing news from The Wall Street Journal‘s Deal Journal blog: The New York Times Co., which operates the paper of record, apparently thought pretty hard about buying a big stake (49 percent!) in much-maligned, just-IPO’d content farm of journalistic misery and eHow.com operator Demand Media.
The surface discrepancy between the two Read More
The Washington Post Co. reported third quarter earnings of $60.9 million on Friday, up from $17.1 million last year for a whopping 256 percent earnings increase, but there’s trouble on the horizon at the company’s cash cow, Kaplan Inc.
Much of WaPo’s revenue comes from Kaplan’s online college and tutoring business, which had revenues of $743.3 Read More
A year after The New York Times Company put The Boston Globe on the market only to yank it back into its fold, a group of investors says it has put together an offer to purchase New England’s largest newspaper. The news comes from The Globe, the very newspaper Read More
Janet Robinson, CEO of The New York Times Company, plans to pay back her company’s $250 million loan from Carlos Slim Helú in January of 2012. The payment will coincide with the launch of paywalls to generate subscription revenue online for The New York Times and The Boston Globe.
The company took out the loan Read More
Media M&A, Moguls
Jon Meacham said he had two voicemails from billionaires on Wednesday afternoon, following the announcement that his magazine was for sale.
Carlos Slim Helú, the richest man in the world, was not one of those billionaires, but he did pay a visit to Newsweek‘s Hudson Street offices on Wednesday afternoon to get Read More
The New York Times Company will announce their first quarter earnings on Thursday, and the AP reports that analysts expect to see five cents per share on a $578.3 million revenue. Last year in the first quarter the company lost $74.5 million, or 52 cents per share.
This would suggest “signs of Read More
So: The good news! The New York Times Company earned a profit! After bleak first-quarter results, the Times was able to eke out a small profit of $39.1 million.
Then there are the more troubling signs: Internet advertising revenue went down again, this time 14.3 percent. But during a conference call with investors this Read More
Today, Arthur Sulzberger, Jr. finally had to face the world.
This morning, from The New York Times‘ skyscraper on Eighth Avenue, Mr. Sulzberger hosted the Times Company’s 113th Annual Shareholders Meeting. He spoke to the company’s battered shareholders—most of those in attendance were geriatric or otherwise free at 10 a.m. on a Thursday morning—who desperately Read More