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NEWS ABOUT: newspaper industry

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Times Says Times Will Survive

(Newser) - Rumors of the New York Times’ demise are greatly exaggerated, reports... the New York Times. “Despite some published alarms to the contrary, the company has positioned itself to ride out another year of recession, maybe two,” Richard Péréz-Peña writes in a review of his employer’... More »

Times to Ax 300 Jobs, Local News Section

(Newser) - Amid growing gloom in the newspaper business, the Los Angeles Times plans to lay off 300 workers and shelve its local news section, LA Observed reports. Foreign and national news will be downplayed to fit local stories into the front section, the publisher said in a memo today. Seventy newsroom... More »

Post Folds Book Review Section to Cut Costs

Literature reviews will be shuffled into other sections of paper

(Newser) - The Washington Post will print Book World—its stand-alone Sunday section—for the last time Feb. 15 and shuffle its reviews into other newspaper sections to cut costs, the New York Times reports. Book World will remain intact online, run by a previously downsized staff. The closure comes amid a... More »

It's Time to Endow Newspapers

Times begs for its life

(Newser) - Newspapers are dying, and there’s only one way to save them, write Yale's David Swensen and Michael Schmidt in today’s New York Times: Make them nonprofit, endowed institutions, like colleges. The Internet has made the for-profit model systematically unsustainable, and constant attempts to refinance and cut costs are... More »

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 »

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 »

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 »

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 »

To Save the News, Look to iTunes

Model proves people will pay for what could be free

(Newser) - People expect their news for free these days, but online advertising revenue isn’t enough to support major operations, David Carr writes in the New York Times. But there may be hope for the newspaper industry. A decade ago, people began getting their music illegally. Now, the convenience of iTunes... 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 »

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 »

NYT Ready to Sell BoSox Stake

As newspapers tank, company offloads non-core assets

(Newser) - With revenues plummeting and advertisers and readers fleeing, the cash-starved New York Times Co is looking to offload a once-sacrosanct asset—its 17.5% stake in the Boston Red Sox and Fenway Park, the Wall Street Journal reports. Revenues at the Times Co arm that includes the Grey Lady and... More »

One Year On: Murdoch Dances, News Corp Mourns

Purchase of Dow Jones came at worst possible time

(Newser) - Those hesitant Bancrofts who sold the Wall Street Journal to Rupert Murdoch last year have something to smile about this Christmas. Murdoch may be delighted with his new toy, but News Corp.'s share price has plunged 61%, farther than even perennial underperformer Time Warner. One year after its acquisition... More »

Media Woes Spread at the Speed of Twitter

Site posts updates on industry firings and (less often) hirings

(Newser) - The rapid shrinking of the media industry is generating enough news to have a Twitter feed all to itself. The "Themediaisdying" feed, started by a PR firm employee, covers hirings, layoffs, and circulation changes in 140 characters or less, the New York Times reports. 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 »

The Bell Tolls for Journos

Explosion of web content and staff cuts marks the end of an era

(Newser) - With the flurry of firings and buyouts at the nation’s newspapers, "it certainly feels like the end of days," writes Julia Klein in Obit. But while much has been made of lofty topics such as "the fate of democracy" and "journalism's core civic and watchdog... More »

Cash-Poor NYT Seeks $225M Deal for Building

Tight credit market, falling profits hurt paper

(Newser) - Facing declining profits and tight credit, the New York Times is looking to raise $225 million by borrowing against the 58% share the company holds in its new Renzo Piano-designed skyscraper in Times Square, the paper reports. The Times hopes to either take out a mortgage on the 52-story building... More »

Tribune May File for Bankruptcy This Week

Saddled with debt, media company looks at Chapter 11

(Newser) - The Tribune Co. has hired a financial adviser to help it file for bankruptcy as early as this week, the Wall Street Journal reports. Facing $12 billion in debt and shrinking profits, the owner of the Chicago Cubs and several newspapers has also brought in legal counsel to guide it... More »

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