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Does Carlos Slim Want to Buy the Times?

As dividends dwindle, Mexican billionaire may move in on paper

(Newser) - Last week Carlos Slim, the world's second-richest man, lent $250 million to the New York Times Company—but why does he want 18% of a tanking media outfit? Advertising Age speculates that the Mexican tycoon is playing a long game: The loan is peanuts to Slim, but it puts him... More »

Inauguration Boosts Newspapers, for a Day

Customers line up to nab front pages covering historic day

(Newser) - The newspaper industry might be in its death throes, but it briefly jolted to life this morning as long lines of people waited at newsstands for souvenir copies of front pages that hailed the inauguration of America’s first black president, the AP reports. In Washington, some editions of the... More »

Google Ditches Print Ad Biz

Recession bites into ad budgets

(Newser) - The recession is continuing to hit even mighty Google, which is shutting down its three-year foray into the print advertising business, Bloomberg reports. The operation sold space in 800 newspapers, but was hurt as budget-crunched companies slashed spending on print advertising. Google's decision will be another blow to beleaguered newspapers,... More »

Obama Headlines Worldwide

Papers reveal 'great expectations' for America's next president

(Newser) - The world was watching as Barack Obama took the oath of office. A sampling of headlines from around the globe:
  • National Post (Canada): The Ascension of Obama
  • Guardian (UK): Magical Spell That Will Open a New Obama Era
  • La Repubblica (Italy): America Celebrates Obama's Oath
  • Der Tagesspiegel (Germany): The World
... More »

Big Day a Windfall for Newspapers

Huge demand for special editions

(Newser) - Newspapers expect a multi-million-dollar windfall in extra sales to people who want a keepsake of Inauguration Day, and publishers are gearing up to make the most of it, Bloomberg reports. The Washington Post is  jacking up its price to $2, and the New York Times, USA Today and other publications... More »

Minneapolis Newspaper Files for Bankruptcy

Star Tribune , overwhelmed by debt, plans to keep operating under reorganization

(Newser) - The Minneapolis Star Tribune has filed for bankruptcy protection after missing payments to creditors, the paper reports. Like most other 3-D news outlets, the 15th-largest daily in the country has seen a steep decline in advertising revenue. The Chapter 11 filing shows assets of $493.2 million and debt of... More »

Want to Own a Newspaper? Got $1.50?

Russian oligarch buying iconic London paper for token sum

(Newser) - A Russian oligarch with a past in the KGB is set to buy one of London's most visible newspapers, at the knockdown price of just a buck and a half. Alexander Lebedev will acquire the Evening Standard for the token price—the cost of two copies—from a media conglomerate... More »

Marketers Have Inauguration Fever, Too

Companies tie products, events to Obama's big day

(Newser) - Marketers for products from cognac to commemorative coins are looking to cash in on Barack Obama’s Tuesday inauguration, the New York Times reports. “Obamabilia” includes bottles of Hennessy with a “44” on the label, special magazine issues, and Tshirts galore. Other companies, like Quaker Oatmeal, are hosting... More »

Gannett Forces Workers to Take Unpaid Leave

Move will avoid layoffs in newsrooms: company

(Newser) - America's largest newspaper publisher will require most of its 31,000 employees to take an unpaid week off this quarter, the New York Times reports. Gannett owns 85 newspapers in the US—including USA Today—that, like much of the industry, are under serious financial duress. The company says the... More »

Trib Goes Tabloid on Weekdays

Newspaper will be smaller on newsstands, remain broadsheet for home deliveries

(Newser) - The Chicago Tribune is changing its street-sale format from broadsheet to tabloid beginning next week, the newspaper reports. The move, which will affect weekday retail editions but not subscription copies, puts the paper in direct competition with its rival, the Chicago Sun-Times, which has long published in the format. The... More »

At Times, Web Geeks Grab at Future, Keep Grip on Past

Team aims to keep it the organization 'of record' even as print product sees its obits

(Newser) - There’s a quiet revolution going on at the New York Times, hiding behind all the print-journalism doom and gloom, New York reports. Since 2007, a team of “developers-slash-journalists” has been collaborating with reporters and editors to create interactive web features—like the trippy Election Day Word Train, which... More »

Seattle Newspaper Deathwatch Begins

Post-Intelligencer put up for sale, could stop printing if there's no buyer

(Newser) - The Seattle Post-Intelligencer will be closed or converted to a digital publication if a buyer doesn't emerge within 60 days, the Seattle Times reports. "Our losses have reached an unacceptable level," the executive of owner Hearst who made the announcement told the stunned newsroom today. "People cried,... More »

Print Times Not Quite Dead, But Hope Lies in Its Ashes

Journalism faces a challenge, but hardly a disaster

(Newser) - We know it’s coming, that day when print newspapers cease to exist, but it won’t be this year, right? Maybe, maybe not, Michael Hirschorn writes in the Atlantic, and it wouldn’t necessarily be a disaster. The New York Times is in trouble—it could default on $400... More »

Minneapolis, Seattle Top List of Most Literate Cities

Read all about it

(Newser) - New York may be America's cultural capital, but Seattle and Minneapolis top the list as the nation's most literate cities, reports LiveScience.  The rankings are based on newspaper, magazine, and online news readership, library usage, book purchases, and educational levels. The two cities also topped the list last year.... More »

Web Overtakes Papers for News

Record number of Americans ditch print to get their news from the net

(Newser) - For the first time ever, more people are getting their news from the Internet than from newspapers, the Los Angeles Times reports. A Pew Research poll found that 40% of people cited the Internet as a main news source, compared to 35% for print. At 70%, television remains the country's... More »

Cash-Poor Newspapers Decamp From Washington

Cost of covering DC wins out over concerns about informing the public

(Newser) - US newspapers are shuttering their Washington bureaus—though hardly for lack of news, the New York Times reports. Consolidation and a steep fall-off in ad dollars have forced many to reevaluate their coverage in recent years, leading to a focus on local news and a reliance on agencies for coverage... More »

Tribune Story Forced Feds to Arrest Blago Early

Story broke up meeting

(Newser) - US Attorney Patrick Fitzgerald must have been grinding his teeth as he arrested Rod Blagojevich Tuesday morning, reports the Wall Street Journal. Fitzgerald’s team had been salivating over the prospect of catching the sale of Barack Obama’s Senate seat on tape, but those hopes were dashed when the... More »

Detroit Papers to Cut Home Delivery

Likely move will be first for major metro rags

(Newser) - In another sign of the dire health of the newspaper business, leading Detroit newspapers are expected to announce this week that they're eliminating home delivery 4 days a week, the Wall Street Journal reports. The Detroit Free Press and the News would be the first major metropolitan papers to take... More »

Judge Tosses Elton John Libel Suit

Satire emerges the winner after singer sues Guardian over spoof diary

(Newser) - Teasing Elton John doesn't breach libel laws, a British judge ruled yesterday. The notoriously testy singer sued the Guardian for publishing a satirical piece purporting to be a snippet from Elton's diary and poking fun at his lavish White Tie and Tiara Ball. Elton claimed it was defamation but the... More »

Madonna Wants $7.5M From UK Paper Over Wedding Pics

Mail on Sunday admits it broke privacy, copyright law, but calls sum 'fantasy'

(Newser) - Madonna wants $7.5 million in damages from a British newspaper that admitted to violating copyright and privacy laws in publishing photos from her wedding to Guy Ritchie, the Guardian reports today. Her lawyer says the photos were stolen, and the damages reflect their worth. “Their true commercial value... More »

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