Carl Bernstein, investigative reporter of Watergate fame, and Roger Cohen of the New York Times debate the media legacy of Rupert Murdoch in the wake of the News of the World implosion. Bernstein begins ...
Has Rupert Murdoch changed the news of the world? by KCRW
Showing posts with label wall street journal. Show all posts
Showing posts with label wall street journal. Show all posts
Jul 13, 2011
Jun 15, 2011
Merger talks between MediaNews and OC Register break down
A disagreement over price has stalled merger talks between MediaNews Group and the Orange County Register. MediaNews, which owns nine newspapers in Southern California, had put together a financed deal to buy the Orange County newspaper, but Register owner Freedom Communications wants a better offer for its flagship property, the Wall Street Journal reports.
Freedom owns eight television stations and more than 100 daily and weekly papers, according to the Journal. It's probable MediaNews only wants the newspapers - and possibly only the Register - and that could mean Freedom wants more time to negotiate better deals for the remainder of its assets.
It's also possible bids from Platinum Equity, which owns the San Diego Union-Tribune, or Los Angeles Times-owner Tribune Co., might have given Freedom a new sense of its value. However, regulatory hurdles stand in the way of any merger with these companies.
From the Journal:
Freedom owns eight television stations and more than 100 daily and weekly papers, according to the Journal. It's probable MediaNews only wants the newspapers - and possibly only the Register - and that could mean Freedom wants more time to negotiate better deals for the remainder of its assets.
It's also possible bids from Platinum Equity, which owns the San Diego Union-Tribune, or Los Angeles Times-owner Tribune Co., might have given Freedom a new sense of its value. However, regulatory hurdles stand in the way of any merger with these companies.
From the Journal:
A March deadline for bids on Freedom's assets came and went before the unsuccessful discussions with MediaNews. Freedom is now in talks with other possible buyers, the people said.
-snip-
People familiar with Freedom's finances said the company's newspapers could fetch about $350 million, or roughly four times their earnings before interest, taxes, depreciation and amortization. Freedom's television stations could be worth about $400 million, or about eight times such earnings, these people said.
Those figures fail to take into account corporate overhead expenses, and pension and tax liabilities, said some people familiar with the negotiations.
May 26, 2011
A return from the rapture
New duties at work have led to (an obvious) slowdown on the blog. Hopefully I'll find my rhythm again in a few weeks.Until then, here are some links to tide you over:
1. Facebook founder Mark Zuckerberg only eats the meat that he kills. He's taken to cutting goat and pig throats in a nod to sustainable farming. CNNMoney
2. NPR wants to know your platform preferences. NPR
3. "Long tails" in support of long tales online. Nieman Lab
4. AOL-Huffington Post announces a financial reporting team and a Canada-theme. Huffington Post (via LA Observed)
5. FishbowlLA co-editor Pandora Young said on Facebook that she got threats of legal retribution for reporting what people said about Finke. The "offending" post is here: FishbowlLA
6. Food writing, like all other forms of writing, is being changed by social media, Internet platforms, and dying newspapers. Poynter
7. You'll go broke going broke. Tribune Co. has paid $157 million to lawyers, bankers and advisers working on its bankruptcy case. WSJ
1. Facebook founder Mark Zuckerberg only eats the meat that he kills. He's taken to cutting goat and pig throats in a nod to sustainable farming. CNNMoney
2. NPR wants to know your platform preferences. NPR
3. "Long tails" in support of long tales online. Nieman Lab
4. AOL-Huffington Post announces a financial reporting team and a Canada-theme. Huffington Post (via LA Observed)
5. FishbowlLA co-editor Pandora Young said on Facebook that she got threats of legal retribution for reporting what people said about Finke. The "offending" post is here: FishbowlLA
6. Food writing, like all other forms of writing, is being changed by social media, Internet platforms, and dying newspapers. Poynter
7. You'll go broke going broke. Tribune Co. has paid $157 million to lawyers, bankers and advisers working on its bankruptcy case. WSJ
Mar 9, 2011
Bidding deadline for Freedom Communications approaches
Bids to buy Freedom Communications, the publisher of the Orange County Register, are due by tomorrow, the Wall Street Journal reports.
Bids for assets of the Irvine, Calif., media company, which owns the Register as well as other newspapers and local television stations, are due Thursday, the people said. Possible bidders include Denver Post publisher MediaNews Group Inc.; Tribune Co.; Gores Group; and Platinum Equity, owner of the San Diego Union Tribune, these people said.
-snip-
It remained unclear what prospective bidders might offer for Freedom's assets and which pieces each might pursue. The entire company won't likely fetch more than $1 billion, said people familiar with the matter.
Jan 18, 2011
MediaNews and Freedom are thinking merger
The shakeup in the MediaNews Group boardroom, led by news that Dean Singleton is stepping down as CEO, isn't just a case of musical chairs. As the Wall Street Journal reports, two of the three new board members named today work for a company that is part owner of Freedom Communications, publisher of the Orange County Register. An insider told WSJ that the company, Alden Global Capital, is thinking merger.
MediaNews owns nine newspapers in Southern California, some of which already have a working relationship with the Register.
But the consolidation plans could go much further. From the WSJ:
MediaNews owns nine newspapers in Southern California, some of which already have a working relationship with the Register.
But the consolidation plans could go much further. From the WSJ:
MediaNews Group Inc., publisher of more than 50 daily U.S. newspapers including the Denver Post, is eyeing a merger with Freedom Communications Inc. and possibly several other newspaper companies, according to a person familiar with the matter.
-snip-
The person ... said Alden wants to roll at least some of its various newspaper holdings into a single company. Alden was part of a group of financial firms that emerged last year as the winner of the auction of the Philadelphia Inquirer and the Philadelphia Daily News. Alden also owns a stake in Journal Register Co., which publishes the New Haven Register among a group of other papers.
Nov 16, 2010
Zell to go
The news was forecast more than a year ago: Sam Zell will leave Tribune Co. once it emerges from bankruptcy proceedings. The Wall Street Journal reports that Zell told CNBC, "I think when we're done with the bankruptcy process I will turn it over to whoever the creditors decide they want to run it, and wish them a lot of good luck."
That Zell is leaving on his own volition is one way of looking at it. Another way is that the creditors are going to strip him of his financial stake in the company, which is what gave him control over Tribune, and send him on his way.
That Zell is leaving on his own volition is one way of looking at it. Another way is that the creditors are going to strip him of his financial stake in the company, which is what gave him control over Tribune, and send him on his way.
Oct 25, 2010
Newspaper circulation drops slightly less sharply
Circulation numbers are out of the last six months and most big newspapers saw a decline when compared to last year. The drop isn't as bad as in past years, but that's not saying much. For some papers, such as the San Francisco Chronicle, this decline has been relentless. Here are the numbers for the 25 largest papers, as reported in the New York Times, with this year's first, followed by last year's, and the percentage change:
WALL STREET JOURNAL 2,061,142 … 2,024,269 … 1.82%
USA TODAY 1,830,594 … 1,900,116 … -3.66%
NEW YORK TIMES 876,638 … 927,851 … -5.52%
LOS ANGELES TIMES 600,449 … 657,467 … -8.67%
WASHINGTON POST 545,345 … 582,844 … -6.43%
NEW YORK DAILY NEWS 512,520 … 544,167 … -5.82%
NEW YORK POST 501,501 … 508,042 … -1.29%
SAN JOSE MERCURY NEWS 477,592 N/A
CHICAGO TRIBUNE 441,508 … 465,892 … -5.23%
HOUSTON CHRONICLE 343,952 … 384,437 … -10.53%
PHILADELPHIA INQUIRER 342,361 … 361,481 … -5.29%
NEWSDAY 314,848 … 357,124 … -11.84%
DENVER POST 309,863 … 340,949 … -9.12%
ARIZONA REPUBLIC 308,973 … 316,873 … -2.49%
MINNEAPOLIS STAR TRIBUNE 297,478 … 304,544 … -2.32%
DALLAS MORNING NEWS 264,459 … 263,810 … 0.25%
CLEVELAND PLAIN DEALER 252,608 … 271,182 … -6.85%
SEATTLE TIMES 251,697 … 263,588 -4.51%
CHICAGO SUN-TIMES 250,747 … 275,641 … -9.03%
DETROIT FREE PRESS 245,326 … 269,729 … -9.05%
ST. PETERSBURG TIMES 239,684 … 240,146 … -0.19%
OREGONIAN 239,071 … 249,164 … -4.05%
SAN DIEGO UNION-TRIBUNE 224,761 … 242,693 … -7.39%
SAN FRANCISCO CHRONICLE 223,549 … 251,782 … -11.21%
NEWARK STAR-LEDGER 223,037 … 246,006 … -9.34%
Oct 19, 2010
Randy Michaels not gone yet*
The Wall Street Journal confirms that the Tribune Co. board is debating whether to dump CEO Randy Michaels, but the paper reports that it remains unclear whether a decision will be made today.
*Update: The New York Times, which first reported Tribune Co. wanted Michaels gone, says that the board told Michaels he should resign but stopped short of demanding his resignation. Perhaps they think the company will look more stable if Michaels departs as part of some bankruptcy deal or something.
*Update: The New York Times, which first reported Tribune Co. wanted Michaels gone, says that the board told Michaels he should resign but stopped short of demanding his resignation. Perhaps they think the company will look more stable if Michaels departs as part of some bankruptcy deal or something.
Oct 13, 2010
AOL wants Yahoo
The Wall Street Journal reports that AOL and two private-equity firms have joined together to make an offer to Yahoo. The idea is to merge the two Internet companies into something better able to compete with Google. AOL and Yahoo both have invested in online news operations recently as well.
Sep 17, 2010
Private enterprise more important than free press, Philly judge rules
A district court judge in Philadelphia has banned "the media" from covering next week's auction of the Philadelphia Daily News and the Philadelphia Inquirer. The auction is taking place in open court, meaning open to the public, but the judge said having reporters there would just be too disruptive - and the papers' creditors happily agreed.
The many ironies and contradictions are enough to buckle a rational mind: A free press being banned from an open court hearing, for starters. A free press being banned from covering a public event in a public facility that concerns the future of the free press, for another.
Want more?
A federal judge blithely employing prior restraint against a constitutionally protected practice. A federal judge choosing to limit a constitutionally protected practice in order to promote a business deal. A federal judge choosing the interests of private business over the public's right to know in a case when two entities established to maintain the public's right to know (the very thing that gives them value) are on the chopping block.
One further complication: The creditors' committee includes the Newspaper Guild, a union representing the news reporters. That puts a reporter in the courtroom. To ensure he maintains control, the judge said the reporter would have to forsake his identity and act only as a representative of the creditors.
Unless a smart attorney or First Amendment group gets Judge Stephen Raslavich to come to his senses, the story of what happens to these two newspapers will be told by wealthy businessmen.
The many ironies and contradictions are enough to buckle a rational mind: A free press being banned from an open court hearing, for starters. A free press being banned from covering a public event in a public facility that concerns the future of the free press, for another.
Want more?
A federal judge blithely employing prior restraint against a constitutionally protected practice. A federal judge choosing to limit a constitutionally protected practice in order to promote a business deal. A federal judge choosing the interests of private business over the public's right to know in a case when two entities established to maintain the public's right to know (the very thing that gives them value) are on the chopping block.
One further complication: The creditors' committee includes the Newspaper Guild, a union representing the news reporters. That puts a reporter in the courtroom. To ensure he maintains control, the judge said the reporter would have to forsake his identity and act only as a representative of the creditors.
Unless a smart attorney or First Amendment group gets Judge Stephen Raslavich to come to his senses, the story of what happens to these two newspapers will be told by wealthy businessmen.
Four in the afternoon
Sep 10, 2010
Don't sip from the lamestream, media
For responsible journalists, figuring out how and what extent to cover publicity-stuntman Pastor Terry Jones is a complicated task.
Less difficult is pointing out the shamelessness of some media in their attempt to ride the publicity wave Jones and his Quran-burning aspirations have created. For instance, staffers at ABC News wanted to fly Jones to New York City and film the journey. The dumb idea wasn't killed by journalists at the station, but by company executives, Yahoo's Michael Calderone reports.
Calderone also reports that over at MSNBC, the "Morning Joe" crew decided to simultaneously milk the Jones publicity machine and make themselves look above it all at the same time. The show had Jones appear as a guest, but didn't let him speak, instead choosing to have soon-to-be-former Newsweek editor Jon Meacham sermonize to the pastor about New Testament values.
This kind of nonsense becomes irresistible when you live or die by ratings. Which is why a New York Times article about how newspapers are now admitting that they pay a lot of attention to page hits should be worrying.
Proponents of a digital revolution in the news business will generally applaud the paper dinosaurs for finally listening to what readers want, rather than substituting their stodgy editorial judgments for a potentially vibrant democratic discussion.
Newspapers can do a lot of things better if they have a deeper conservation with readers (and with non-readers). But measuring page views and responding to that isn't the way to do it. Indeed, page clicks is the single most dominant measure of success online and it invites the most abuse.
Here's how the Wall Street Journal uses hits to reorder its news site:
Popularity is, as everyone who has ever heard of Justin Bieber knows, not synonymous with quality. What news organizations can do to protect quality is to develop more effective and nuanced ways to measure success and guide presentation. This doesn't mean they shut readers out. Newspapers should not refuse to adapt to useful feedback from the public. But to protect editorial judgment, they absolutely develop metrics that bake in editorial judgments and organizational mission. Ratings/hit-counts are passive; they will inevitably cause newspapers to substitute audience judgment for their own editorial judgment. Newspapers need a more sophisticated and active approach; they should be hiring people who know how to create the metrics that will make them better, not just more profitable.
Otherwise, they might as well book a flight with Pastor Terry Jones right now.
Less difficult is pointing out the shamelessness of some media in their attempt to ride the publicity wave Jones and his Quran-burning aspirations have created. For instance, staffers at ABC News wanted to fly Jones to New York City and film the journey. The dumb idea wasn't killed by journalists at the station, but by company executives, Yahoo's Michael Calderone reports.
Calderone also reports that over at MSNBC, the "Morning Joe" crew decided to simultaneously milk the Jones publicity machine and make themselves look above it all at the same time. The show had Jones appear as a guest, but didn't let him speak, instead choosing to have soon-to-be-former Newsweek editor Jon Meacham sermonize to the pastor about New Testament values.
This kind of nonsense becomes irresistible when you live or die by ratings. Which is why a New York Times article about how newspapers are now admitting that they pay a lot of attention to page hits should be worrying.
Proponents of a digital revolution in the news business will generally applaud the paper dinosaurs for finally listening to what readers want, rather than substituting their stodgy editorial judgments for a potentially vibrant democratic discussion.
Newspapers can do a lot of things better if they have a deeper conservation with readers (and with non-readers). But measuring page views and responding to that isn't the way to do it. Indeed, page clicks is the single most dominant measure of success online and it invites the most abuse.
Here's how the Wall Street Journal uses hits to reorder its news site:
At The Journal, editors use traffic data to inform decisions on how articles should be presented on WSJ.com. “We look at the data, and if things are getting a lot of hits, they’ll get better play and longer play on the home page,” said Mr. Murray. Conversely, articles getting low audiences will be moved down more quickly if there is no compelling news reason to keep them prominent.Predictably, the Journal's editors immediately cite an exception to the rule, saying they've investigated or reported on some issue they knew wouldn't be very popular. But exceptions are merely rationalizations for what is actually happening. And when Bill Keller, editor of the New York Times, says his paper uses page views only to determine how articles are presented online, not to direct coverage, he is being similarly disingenuous. Does anyone really think a newspaper is going to invest as much time and resources into topics that it knows won't ever get strong play on the web site? And isn't how a paper presents itself, whether in print or online, one of the key ways it communicates its editorial judgment to readers? (The answer is yes.)
Popularity is, as everyone who has ever heard of Justin Bieber knows, not synonymous with quality. What news organizations can do to protect quality is to develop more effective and nuanced ways to measure success and guide presentation. This doesn't mean they shut readers out. Newspapers should not refuse to adapt to useful feedback from the public. But to protect editorial judgment, they absolutely develop metrics that bake in editorial judgments and organizational mission. Ratings/hit-counts are passive; they will inevitably cause newspapers to substitute audience judgment for their own editorial judgment. Newspapers need a more sophisticated and active approach; they should be hiring people who know how to create the metrics that will make them better, not just more profitable.
Otherwise, they might as well book a flight with Pastor Terry Jones right now.
Sep 8, 2010
Another Times reporter departs
Los Angeles Times political reporter Janet Hook has left the Los Angeles Times to work for the Wall Street Journal, where she'll cover Congress (Talking Biz News via LA Observed). She's the third reporter to leave in recent days. Former Times Sacramento reporter Michael Rothfeld also landed at the WSJ as well. He's covering legal issues for the paper's Law Blog. Jim Tankersley, who covered energy and environmental issues, went to the National Journal to cover economics.
Aug 23, 2010
Four in the morning
1. Sidney Harman is full of ideas for making Newsweek a more successful magazine, including discounts on books written by Newsweek writers, connecting dots, and, "has a fundamental respect for the business aspects of the operation, who doesn't think this is somehow an artistic undertaking totally separate from the real world." WSJ
2. The Tribune Co. bankruptcy negotiations have broken down. Does this mean debtors want to see the contract even more before they're willing to make a deal? ChiTrib
3. Star Trek nerds bypass Riverside exhibit, for now. Press-Enterprise
4. Amid the travails of bankruptcy, the Los Angeles Times has a scrappier feel these days, with what feels to be a more robust watchdog-approach to local reporting than in recent years. For all the good work, Tribune has decided to get the newsroom new time clocks. Ed Padgett
2. The Tribune Co. bankruptcy negotiations have broken down. Does this mean debtors want to see the contract even more before they're willing to make a deal? ChiTrib
3. Star Trek nerds bypass Riverside exhibit, for now. Press-Enterprise
4. Amid the travails of bankruptcy, the Los Angeles Times has a scrappier feel these days, with what feels to be a more robust watchdog-approach to local reporting than in recent years. For all the good work, Tribune has decided to get the newsroom new time clocks. Ed Padgett
Aug 10, 2010
Comings and goings (catchup)
A departure I missed a couple weeks back: James Wagner, who covered Diamond Bar and the City of Industry (including the city's NFL bid) for the San Gabriel Valley Tribune, has moved on to cover high school sports for the Washington Post. Wagner came to the Tribune in June, 2009. Before that he was in metrpo at the Los Angeles Times and interned at the Wall Street Journal.
Jul 26, 2010
The anchorless newscast and other imagineering
Tribune Co. CEO Randy Michaels has a vision for his bankrupt newspaper and television empire, and it looks a lot like the empires of MediaNews Group and Gannett - meaning a constant focus on findings ways to cut staff (centralizing and shrinking copy and news desks, sharing stories to fill pages or on-air time) and a nearly erotic attachment to the idea of consolidation.
Here are some key quotes from an interview Michaels did with the Wall Street Journal:
Here are some key quotes from an interview Michaels did with the Wall Street Journal:
"Stories [are] laid out in modules — standard sizes with collections of headlines, content, images [reducing the need for layout and copy editors]. If you pick up the Allentown [Pa.] Morning Call, the foreign news was written in Los Angeles and the national news was written in either Chicago or Washington. It's probably higher quality journalism than a local paper that size is going to be able to afford."
"We are about to launch a TV newscast in Houston that has no anchors, that has great pictures and great writing, but doesn't involve a set or a desk or anyone standing in the way of the picture. Now is it going to work? We're going to find out."
"On the TV side, this is an industry ready to consolidate. I believe my experience in helping people look rationally at opportunities to grow their business by intelligently consolidating regionally will be very helpful."
Jul 15, 2010
Comings and goings
Gabriel Kahn, Los Angeles bureau chief for the Wall Street Journal, is leaving for a job at USC's Annenberg School for Communication and Journalism, according to Gorkana. The paper has yet to name a replacement.
Jun 9, 2010
Four in the morning
1. The Wall Street Journal is making googly eyes at Los Angeles, hoping, as the New York Times does, to take advantage of a severely weakened Los Angeles Times. LAO
2. AOL plans to be the "largest net hirer" of journalists next year. Ad Age (via Romenesko)
3. Yahoo and Huffington Post are getting cozy. Beet.tv (via Romenesko)
4. Meg Whitman wants to buy your vote, but you'll have to buy your own drink. fishbowlLA
2. AOL plans to be the "largest net hirer" of journalists next year. Ad Age (via Romenesko)
3. Yahoo and Huffington Post are getting cozy. Beet.tv (via Romenesko)
4. Meg Whitman wants to buy your vote, but you'll have to buy your own drink. fishbowlLA
May 17, 2010
Freedom of the press*
President Barack Obama today is expected to sign the Daniel Pearl Freedom of Press Act. From AP:
President Barack Obama plans to sign a law Monday intended to provide more protections for a free press around the world.*UPDATE: After he signed the bill, Obama said the press was free to ask questions and that he was free to ignore them.The law, known as the Daniel Pearl Freedom of Press Act, expands efforts to identify countries where press freedom is being violated. The law is named after Pearl, a Wall Street Journal reporter who was beheaded in Pakistan in 2002.
May 14, 2010
Four in the morning
1. The Tribune Co. bankruptcy saw another complication as senior creditors filed an objection to the latest plan. The company, which owns the Los Angeles Times, filed for Chapter 11 bankruptcy in December, 2008 and was hoping to get by mid-August. Chicago Tribune
2. The Tennessee House speaker collapsed during a public session in the Capitol building and an Associated Press photographer had the temerity to think the public might care about that. Lawmakers, however, knew better and had security escort the photographer out. Knoxnews.com
3. Personal advertorial: The five things one male journalist thinks every woman should know about dating a male journalist - "And yes, ladies, I’m single." rockmycar.net (found via LA Observed)
4. New York Times Editor Bill Keller said the paper will begin charging for access to stories on its website in January. WSJ
2. The Tennessee House speaker collapsed during a public session in the Capitol building and an Associated Press photographer had the temerity to think the public might care about that. Lawmakers, however, knew better and had security escort the photographer out. Knoxnews.com
3. Personal advertorial: The five things one male journalist thinks every woman should know about dating a male journalist - "And yes, ladies, I’m single." rockmycar.net (found via LA Observed)
4. New York Times Editor Bill Keller said the paper will begin charging for access to stories on its website in January. WSJ
Subscribe to:
Posts (Atom)
Posts
