Sun cuts include Kohn

The Baltimore Sun layoffs include Bernie Kohn, investigations editor and former president of the Society of American Business Editors and Writers.
Kohn was previously the assistant managing editor for business before The Sun shuttered its business section last year.
The cuts equal about a quarter of the paper's editorial staff.
To learn more about who is gone from the paper click here.

Baltimore Sun cuts 61 from newsroom

The Baltimore Sun this week laid off 61 newsroom employees, or nearly a third of the total newsroom, according to an article on the paper's website.

The reductions hit nearly every type of job in the 205-person newsroom, including top editors, news photographers, critics, columnists, sports reporters, copy editors, page designers and graphic artists, according to The Newspaper Guild, which was notified of the union-represented layoffs. One news reporter was laid off as well, after leaving voluntarily. Most employees were notified Wednesday, with others laid off late Tuesday.

According to Poynter's Rick Edmonds, Ted Venetoulis, who has been trying to buy the Sun for years, thought that a deal was close at hand. However:

[...] by ditching so many experienced print editors, Tribune Co. could be signaling that it plans to continue running the operation itself rather than selling it.

A Baltimore Sun Media Group representative said the cuts were part of the paper's transition to a 24-hour multimedia news operation.
Click here for the article on the cuts, and here for the Poynter article.

How newsroom cuts may impact SEC

Reuters reports that Mary Schapiro, the new chairman of the Securities and Exchange Commission, said she is concerned that job cuts in newsrooms may hinder the SEC's ability to crack down on illegal behavior.

"It's an absolute worry for me because I think financial journalists have in many cases been the sources of some really important enforcement cases and really important discovery of practices and products that regulators should be profoundly concerned about," the chairman of the Securities and Exchange Commission told Reuters Global Financial Regulation Summit in Washington on Tuesday. "But for journalists having been dogged and determined and really pursuing some of these things, they might not be known to the regulators or they might not be known for a long time," she said.

Schapiro then urged laid-off journalists to apply for jobs at the SEC. She said investigative journalism may be an "interesting skill set" that could be very useful to the agency. "[The SEC] has to really broaden its horizons and bring in people who think about things a little differently than it has historically," she said.

For more click here.

FBN host's early career goals had nothing to do with business journalism

In a TribLIVE interview, FOX Business Network host Eric Bolling discusses his life before joining FBN. It turns out business news was not Bolling's first career choice. Before becoming the host of FBN's "Happy Hour," Bolling was on track to become a professional baseball player. But an early-career injury ended his baseball dreams. From there, Bolling took a job at the Chicago Mercantile Exchange and later a position as a trader at the New York Mercantile Exchange. His popularity and reputation grew thanks to regular appearances on CNBC, which ultimately led him to FBN.

In the interview, Bolling also shares his views on the Big Three, getting through the crisis and baseball.

For more click here.

NY Times union tentatively agrees to pay cuts

The Newspaper Guild, which represents newsroom employees at The New York Times, has agreed in principle to a five percent pay cut on union employees, according to an article on the Times' website.

The company has said that the pay reduction would save $4.5 million and avert the elimination of about 80 jobs, mostly in the newsroom. But the union, in reaching the agreement, did not win assurances from the company that there definitely would not be layoffs through the end of the year. If employees are laid off during the period, however, severance packages would be paid based on employees’ salaries before the reduction.

Union members will vote on the pay cut next week. The move comes as the Times is looking for ways to save money after losing nearly $75 million in the first quarter of the year.
To read more, click here.

Circulation decline speeding up

Figures released by the Audit Bureau of Circulations show that newspaper circulation for the six months ending March 31 fell 7.1 percent, according to The New York Times.
That's an increase from the 4.3 percent and 3.6 percent drops over the previous two six-month periods.

Of the top 25 newspapers in the United States, all posted declines in circulation except for The Wall Street Journal, which eked out a 0.6 percent gain, according to figures released by the Audit Bureau of Circulations. For the others, the declines ranged from 20.6 percent for The New York Post, to a slight 0.4 percent drop for The Chicago Sun-Times.

The Audit Bureau also showed, however, that the number of unique visitors to newspaper websites is still increasing.
The sites combined to draw 73 million unique visitors per month in the first quarter of 2009, a year-over-year increase of 10.5 percent.
Click here to read more.

USA Today names new publisher, editor

Gannett on Tuesday announced that it was appointing David Hunke as the new publisher for USA Today, a position filled by Craig Moon until April 17, according to Editor & Publisher.

Craig Dubow, Gannett chairman, president and chief executive officer, made the announcements at the company’s annual shareholders meeting.
“Dave is a highly talented, multi-faceted leader, who drives excellence throughout his organization while making the tough business decisions. At the same time, he has the courage to be innovative and take chances. He is just the right person for USA TODAY at this juncture,” Dubow said in a statement. “I am thrilled he will be joining my executive team.”

It was also announced that John Hillkirk would be promoted to the top editor position at USA Today from his previous role as executive editor.
To read more, click here.

Former Star-Ledger employees start news site

Last year, New Jersey's The Star-Ledger bought out nearly half of its 330 newsroom employees in an effort to avoid shutting down or exploring a sale if costs could not be cut.
According to Editor & Publisher, 40 of those former employees have now started up their own news site, NewJerseyNewsroom.com.

The site, which so far has only Google ads but virtually no overhead, claims about 10,000 page views per week. It is mixing original reporting about the Garden State -- ranging form statehouse issues to sports -- along with links to other sites, including the Star-Ledger. An arrangement with Voice of America also allows the site to use that outlet's content.

No one working for the site is being paid yet, since they each have several months worth of salary payments remaining from their buyouts. This helps the new site keep costs low while it tries to attract readers, advertising dollars and funding.
To read more, click here.

Breaking: Portfolio shuts down

Folio is reporting that Condé Nast has shut down Portfolio magazine with staffers getting the news this morning. From the article:

"The magazine had watched ad pages plummet 60.9 percent during the first quarter, according to Publishers Information Bureau figures."

Read the full article here.

WSJ interactive map: "Pressure on the Presses"

The Wall Street Journal has an interactive map that details some of the hits the top 50 U.S. newspapers have taken between 2006 and 2009. A detailed chart also lists the same information for the top 100 newspapers. From job cuts to revenue losses to shutdowns, the multimedia piece illuminates the trouble the industry has faced in recent years.

For the piece click here.

Average time spent declines for many in March

Among the top 30 newspaper websites in terms of unique monthly visitors, most saw a decline in the average time spent per visitor in March, according to Editor & Publisher.

The average time spent per person at the NYTimes.com dropped by six minutes in March 2009 compared to the same period a year ago. The NYTimes.com has some company: The Wall Street Journal lost more than five minutes March 2009. So did Politico.
In fact, just over half of the top 30 newspaper Web sites (ranked by uniques) experienced declines in the average time spent per person.

Some sites enjoyed large gains, however. Both The Atlanta Journal-Constitution and Newsday improved by more than eight minutes.
The New York Times was overtaken in first place by the Star Tribune, which lost about thirty seconds to finish with an average of over 32 minutes.
While the news can be interpreted negatively from an advertising standpoint, it can also be a sign that the number of unique users is increasing, which is the case for some papers on the list.
To see the list and read more, click here.

Star Tribune, union agree on tentative deal

The Star Tribune, currently working through Chapter 11 bankruptcy protection, has reached a tentative deal with its newsroom union, according to MinnPost.com.

Workers who remain will get a 3 percent wage scale cut, a 30 percent across-the-board merit pay reduction (most of the newsroom gets so-called "overscale"), two furlough days a year for the next two years, and a pension freeze. Pension savings is not included in the $1.7 million the Star Tribune will save.

According to the article, Star Tribune management was not able to get rid of seniority when it comes to layoffs.
However, the union did agree to let management save a "small number" of less-senior employees in the event of more layoffs, so the seniority rule is no longer as concrete as it once was.
The agreement is expected to save the paper just under $1.7 million, plus pension savings.
Click here to read more.

New York Times considers charging for content

At its annual conference Thursday, New York Times Company Chairman Arthur Sulzberger Jr. said that The New York Times is considering charging for some content again, according to Editor & Publisher.

Sulzberger did not specify any particular business model, but suggested the Times would look again at trying to get paid for its content. For several years, the flagship paper charged international users to access its site, and for a few years charged for access to opinion columns and other contents in its Times Select program.

Sulzberger did not say that the paper would stop running ads online, a practice he characterized as extremely successful.
He offered no time frame for a potential move beyond a statement that more information would be available "at a future date."
Click here to read more.

LAT biz section reporter dies at 46

The Los Angeles Times reports Annette Haddad, a real estate reporter for the paper's business section, has died of complications from ovarian cancer. She was 46. Haddad first joined the paper in 1992.

From her L.A. Times obituary:

Although she had spent much of her career at the Times as an editor, she embraced the idea of covering real estate when offered the chance in 2004. During her time on the beat, she had 17 Page 1 stories on a variety of aspects of the market, including a sharp Column One feature that provided an early look at the impending foreclosure crisis.

For more click here.

McClatchy hit hard by 1st quarter ad revenue

McClatchy Co. announced its first quarter results Thursday, and reported a drop in advertising revenue of just under 30 percent, according to Editor & Publisher.
Overall losses also exceeded analysts' expectations:

McClatchy reported a loss of $37.7 million, or 45 cents a share, from a loss of $993,000, or 1 cent a share, in the first quarter of 2008. Adjusted for certain items, such as severance payments from a wave of layoffs, the loss from continuing operations was $22.9 million, or 28 cents a share. The consensus of analysts had been for an 11-cent loss per share.

In more positive news, print revenue increased slightly, and when employment advertising is excluded, digital advertising was up 28.7 percent.
Click here to read more.

MoneyShow.com hires two industry veterans

According to a "Business Wire" press release, former CNBC anchor Karen Gibbs and former SmartMoney.com markets editor and columnist Igor Greenwald have joined MoneyShow.com. Gibbs will be the host of the MoneyShow.com Video Network and Greenwald will become Global Investing Editor.

MoneyShow.com is a an investment-education online resource for both traders and investors. The Web site gives visitors "access to advice and opinions from leading investment advisers and professional traders, as well as hundreds of hours of education targeting investors, traders, and financial advisors."

For more click here.

Cuts on the Trib biz desk

Michael Miner of the Chicago Reader has a partial list of the staffers that were cut in the latest reductions at the Chicago Tribune.
On the business side he has listed four reporters staffers so far. The total number of employees cut will be about 53, so more names might be added in the following days.
Here's a partial list. For the full list click here.
* Susan Diesenhouse, Real Estate Feature Writer
* Eric Benderoff, Technology Reporter, Financial News
* James P. Miller, Corporate Strategy and Manufacturing Reporter, Financial News
* Joshua Boak, Business Reporter

NYT ad revenue way down

Bloomberg reports that The New York Times Co. listed a 27 percent drop in first-quarter advertising revenue, expanding its net loss to $74.5 million.
From the story:

Times Co. cut jobs, slashed pay, halted its dividend and sold assets to help preserve cash after ad revenue slipped 13 percent last year. It’s seeking to sell its minority stake in the Boston Red Sox baseball team and is negotiating additional pay and job cuts with unions. “It’s clear from these results that it’s a very, very bad environment for newspapers,” Edward Atorino, a New York-based analyst at Benchmark Co., said in an interview. “There’s no sign of relief.

Traffic on Seattlepi.com

In its first month operating only as a Web site, traffic on the Seattle Post Intelligencer's Seattlepi.com has significantly dropped, according to reports from the Puget Sound Business Journal.
A company spokeswoman, however, says the numbers are flawed and that traffic on the site jumped 10 percent from last year.
From the story:

"The March Nielsen data offer one early glimpse of how readers online are reacting to a new newspaper landscape in Seattle. New York-based Hearst Corp. closed the print edition of the Seattle Post-Intelligencer March 17 and is operating Seattlepi.com as an online news venture with a much smaller staff."

Chicago Trib makes more cuts

The Chicago Tribune is cutting 11 percent of its newsroom staff, according to reports from Reuters.
The reduction results in the loss of 53 editorial employees, bringing the total number in the newsroom to 430, more than 200 less than three years ago.
From the story:

"This process comes with pain: 53 of our friends and colleagues will be leaving the Chicago Tribune as a consequence of changing priorities," Kern wrote in the memo. The newspaper plans to expand its local news operation and establish a new "watchdog unit" to increase consumer and investigative coverage, Kern wrote. Much of the shift involves online news, and Kern said the newspaper's digital staff was growing.

FBN debuts new high-tech studio

The Fox Business Network's shows are now broadcast from a new high-tech studio with plenty of windows with views of Midtown Manhattan and moving floor parts that allow for a variety of set looks and configurations. According to a Broadcasting & Cable article, the studio launched Monday with the 7 a.m. broadcast of "Money for Breakfast."

The multi-million-dollar Studio G facility, which is supported by a new high-definition control room, was built on the former roof of a two-story outcropping on the east side of the News Corp. building at 1211 Avenue of the Americas. The studio space, which has seven windows that look out on the street, now reaches up to the fifth floor of the building. The new roof has been set up for live outdoor shots in warm weather with paving stones, a broadcast service panel and wireless-mike connectivity back to the studio.

The 3,500 square-foot studio also features the latest state-of-the-art technology:

The in-studio displays include three 103-inch Panasonic plasma screens (which will eventually be outfitted with infrared technology to allow talent to interactively launch FBN's Vizrt graphics); an animation wall of three 70-inch Samsung LCD monitors that can be used to seamlessly display either one large image or three different graphics; and eight large Christie rear-projection screens. There are also large LED screens mounted outside the building that will showcase either graphic banners or live broadcasts to passers-by on the street.

To read the article and view a video tour click here. 

Top 30 newspaper sites experience strong growth

Editor & Publisher today released its monthly compilation of newspaper website statistics. In March, about three quarters of the top 30 sites experienced double-digit year-over-year growth in unique visitors.
The Seattle Post-Intelligencer, which went online-only in March, was one exception.

Seattlepi.com fell to No. 32 with 1.4 million unique users, down 23% compared to March 2008. In February, the site was ahead of its then-joint operating agreement sister The Seattle Times. Seattlepi.com had 1.8 million uniques, while the Seattle Times had 1.5 million in February.
The Seattle Times picked up online readers as well. In March, the site recorded year-over-year growth of 70% to 2.2 million unique.

The New York Times stayed in first place, up 7% year-to-year with more than 20 million unique users. This was more than double that of second place USA Today, which saw its audience fall 7% year-to-year.

Click here to read the story and see the full list.

Idolizing The Economist

Matt Pressman of Vanity Fair writes that the saying, “We’re going to turn things around by being like The Economist,” has become an overused cliche.
He says there is no way news weeklies can be like The Economist, a magazine whose circulation has doubled in the past seven years, and he offers four reasons why. The number one reason: they can’t match the snob appeal.
To read the full story click here.

Reporting on troubled brands

Wall Street 24/7 has a story that predicts which brands could soon disappear in this tumultuous economy.
Reporters examined the 100 largest troubled brands and through detailed reporting came up with a list of 12 that they say will fold by next year.
Among those is Hearst's Esquire magazine and Borders.
For the complete list click here.

Koten departs Fast Company and Inc.

Crain's New York Business reports that John Koten is stepping down from his post as the chief executive of the publisher of Fast Company and Inc. magazines.
From the story:

"A person familiar with the situation said that the company will be run for the time being by an executive committee consisting of chief finance officer Mark Rosenberg, Fast Company editor Bob Safian and Inc. editor Jane Berentson. They will report to Joe Mansueto, the Morningstar Inc. billionaire who bought the business magazines from Gruner & Jahr in 2005 and appointed Mr. Koten to run them."

For the full story click here.

New York Times Co. loses $74 million in quarter

The New York Times Company reported Tuesday that it lost $74 million in the first quarter of 2009, partly on a quarterly advertising drop of more than 28 percent, according to an article on NYTimes.com.

The worst drop, 31.6 percent, hit the New England Media Group, which consists primarily of The Boston Globe and its site, Boston.com. The company has told unions at The Globe that the paper is on track to lose $85 million this year, and that unless deep cuts are made, the paper will be sold or closed.

Total revenue fell 18 percent year-over-year, but CEO Janet Robinson released a statement in which she argued that the company's situation will improve as the year goes on.
She cited a continuing plan to reduce operating costs, claiming that the company will save $330 million over the course of the year in this area.

To read more, click here.

McCumber named Hearst editor

David McCumber, former managing editor of the Seattle Post-Intelligencer, has been named editor of two of Hearst's Connecticut newspapers, The Advocate of Stamford and the Greenwich Time, as well as editorial director of its Connecticut Newspaper Group.
From the release: "David has been a valuable member of the Hearst Newspapers team for the last decade and we are excited to have his leadership at The Advocate and Greenwich Time," said Steven R. Swartz, president of Hearst Newspapers. "He will also bring a wealth of editorial experience and journalistic vision to all our of Connecticut papers."

Pulitzers announced

This year's winners of the Pulitzer Prize were announced today.
The group includes winners from The New York Times, the Detroit Free Press, Las Vegas Sun and the St. Petersburg Times.
The New York Times grabbed the breaking news Pulitzer for its coverage of the Gov. Eliot Spitzer scandal and the Las Vegas Sun won in the public service category for its report on the high death rate of construction workers.
For the full list of winners click here.

NYSE threatens to de-list McClatchy

Editor & Publisher reports that McClatchy Co. was warned by the New York Stock Exchange that it is no longer "in compliance with listing standards." As of Friday, McClatchy's market capitalization of $48.17 million was below the Big Board's required minimum market cap of $75 million. McClatchy's market cap has been below the minimum for 30 consecutive days, which triggered the NYSE's warning.  

On Friday, McClatchy shares closed at 58 cents. The company says it plans to submit "a plan to get its market cap into compliance."

But McClatchy is not the first newspaper company facing de-listing. 

Last year, Journal Register Co., GateHouse Media Inc., and Sun-Times Media Group were de-listed from the NYSE because their market capitalization had fallen below minimums and because they were trading for less than $1. The stock exchange has suspended the dollar-per-share minimum until June 30 as a result of the financial meltdown.

For more click here.

TV coverage of Tax Day "tea parties"

MediaBistro's "TVNewser" is reporting that cable news networks all treated the Tax Day protests, or "tea parties," differently. While the Fox Business Network and Fox News Channel covered the protests "as a big story," CNN covered it as a "modest story" and MSNBC as "a great story...to make fun of." 

"TVNewser" has the following breakdown of the number of times each network mentioned the protests on Tax Day (up to 6 p.m. ET): 

• Fox Business Network - 78
• Fox News Channel - 55
• CNN - 36
• MSNBC - 32
• CNN Headline News - 24
• CNBC - 17

For more click here. 

WSJ launches iPhone app with free content

Wired is reporting The Wall Street Journal is making all of its content free in a new app for the iPhone. The move is unusual and somewhat unprecedented because WSJ is one of the few remaining newspapers that continue to charge for online content. This means the mobile app will be entirely ad-supported. But according to the Wired article, WSJ may actually "broaden its audience" with the new app "without necessarily jeopardizing the subscription model of the wsj.com."

Bloomberg, The New York Times, CNN and The Associated Press all have similar iPhone apps. 

For more click here.

Gannett quarterly profits fall 60%

Gannett Co. reported its first-quarter results Thursday. The number that received the most attention involved the company's profits, which fell 60 percent from the first quarter last year, according to the Associated Press via Yahoo! Finance.

Gannett, which publishes USA Today and dozens of other daily newspapers, earned $77.4 million, or 34 cents per share, in the first three months of the year. In the same quarter in 2008, McLean, Va.-based Gannett earned $192 million, 84 cents per share.

However, the news wasn't all grim:

Adjusting for one-time losses and gains, earnings came to 25 cents per share. On that basis, analysts had expected 24 cents, according to Thomson Reuters.
That was enough to push Gannett shares up 27 cents, or 7.7 percent, to $3.76 in morning trading.

Much of the falling profits were the result of the company's ad revenue, which fell 34 percent from the previous quarter and has now fallen for nine straight quarters.

To read more, click here to read more.

Former P-I employees launch Seattle PostGlobe

Former employees of the Seattle Post-Intelligencer have launched a Web site, Seattle PostGlobe.
Mote than 100 staffers lost their jobs after the 146-year-old Pulitzer Prize-winning paper was closed last month.
The site's staff includes former P-I reporters, editors and photographers now working as volunteers.
The site says the project got off the ground with the help of station KCTS 9, but now donations are needed to keep the effort going.
Editor & Publisher has a story that offers more details behind the venture.

New CNBC special probes infomercial industry

A new CNBC special, "As Seen on TV," will give viewers a rare look  inside the $150 billion infomercial industry. The show is scheduled to premiere on April 22 at 9 pm ET. CNBC takes a look at how and why some of TV's most popular products, from the ShamWow to the Snuggie to Ginsu Knives, are flying off the shelves. 

CNBC Sports Business Reporter Darren Rovell tests some of the most popular products to see if they are "busts or buys." He also sits down with "industry heavyweights" to uncover the psychology behind sales pitches. 

For the show's Web site click here. 

Chicago Tribune editor disputes layoff report

Yesterday, Crain's Chicago Business reported that the Chicago Tribune was planning on laying off 20 percent of its newsroom staff, citing sources involved in a meeting about the cuts.
Today, Editor & Publisher reports that a Chicago Tribune editor is disputing that claim, saying that while jobs will be cut, the 20 percent figure is not accurate.

Job reductions will take place throughout the paper, not just the newsroom, Tribune Editor Gerould Kern said in an article posted at media reporter Phil Rosenthal's Tribune Ticker blog. Specific numbers have also not yet been determined, he said.

Kern did, however, acknowledge Crain's report that the paper would be adding staff in certain "emerging growth opportunities."

Click here to read more, or here to read yesterday's Chicago Business report.

Chicago Trib to eliminate 20% of newsroom staff

Crain's "Chicago Business" reports that the Chicago Tribune will reduce its newsroom staff by another 20 percent. The move is part of an ongoing effort to cut costs at the paper, which filed for Chapter 11 bankruptcy protection in December. 

From the story:

The paper is also shuffling some newsroom duties. Last month it mixed copy editing, page design, graphics, imaging and some photo editing into a single department, creating new job descriptions that will combine copy editing with graphics and photo editing with design. 

But despite its troubles,  the Tribune has also recently hired new staff members, including a new spokeswoman. 

For the full story click here. 

Staffing changes at AJC

Cynthia Tucker is moving from The Atlanta Journal-Constitution's editorial page editor into a new role as a political columnist based in Washington, D.C.
Her new assignment brings changes to the editorial department, including moving Andre Jackson, currently the AJC's senior editor for business, federal and state news, to editorial editor.
Before joining the AJC, Jackson served as the business editor of the St. Louis Post-Dispatch.
He also writes a column for businessjournalism.org. Check out his latest here.

Gannett kicks off earning reports

The Wall Street Journal reports that Gannett Co., the largest U.S. newspaper publisher by circulation, will report its earnings on Thursday, kicking off what is expected to be the ugliest quarter in recent memory for the industry.
According to the story, analysts and industry executives will be watching for any signs of a recovery in advertising.
From the report:

"We're expecting particularly dismal results from newspapers," said Mike Simonton, an analyst with Fitch Ratings, adding that until classified ads disappear completely, there is "no bottom in sight" for the current revenue trends.

Do scoops matter anymore?

Jon Friedman of Marketwatch asks in his recent column, "Do scoops matter in a digital world?"
Friedman believes the glory days for scoops may be ending, since society is molding into an Internet-dominated world. He writes, "How long does a scoop last nowadays on the Internet? Ten seconds, maybe? Things have changed."
From the column:

For many newsrooms, the process of getting a scoop may no longer be cost-effective. On the Web, a scoop may not be the most widely read piece on a site. That matters, as we move more toward a world of accountability. Often, media bosses determine an online story's success by how many clicks it attracted.

What happens to business news coverage when the crisis ends?

The New York Times has an article about the mainstream media's sudden rush and newfound urgency to report business news. As the crisis impacts almost everyone, news outlets are desperately trying to meet the surging demand for these stories.  According to freelance business editor and writer Jim Impoco, "in this news cycle, the press has become obsessed with Treasury Secretary Timothy F. Geithner and Edward M. Liddy, A.I.G.'s dollar-a-year C.E.O., that even Octomom and Rihanna have trouble grabbing air time and column inches." Impoco also points out that suddenly everyone has an opinion about the financial markets, even the "talking heads who once prided themselves on their inability to balance their own checkbooks." 

But Impoco warns that the intensive financial news coverage might not last. As soon as the crisis is over or even starts to lose steam, he notes, "the news media will likely retreat from the business story again." He believes now is the perfect opportunity for economic and financial news to find its "rightful place alongside politics, sports and entertainment." 

For the full story click here. 

Miami Herald biz editor leaves post

Lisa Gibbs is leaving her post as the editor of The Miami Herald's business sections for a job at Money magazine, where she worked before joining the paper in 2004.
In today's paper she wrote a goodbye letter to her readers:

"I feel like most of my time here has been spent on two H-words: hurricanes and housing. When I walked into the Herald newsroom in September 2004, it was right after Hurricane Frances. From that busy season through the wallop of Katrina and Wilma, covering the impact of those storms on gas, insurance, electricity and really just about everything occupied a fair portion of our energy.
But of course the big story was real estate. I recall being amazed at the nearly-daily announcements of yet one more towering condo and this sense permeating water-cooler chat everywhere that we were all getting rich."

Times-Union cancels union agreement

The Times-Union of New York has canceled the collective bargaining agreement with a union which represents over half of its 450 employees, according to an article on the paper's website.

The move, announced late in the afternoon, came after nine months of negotiation with The Albany Newspaper Guild, part of the Communications Workers of America, failed to produce agreement on a new labor contract.
The newspaper, owned by New York City-based Hearst Corp., had previously given the union 30 days' notice of its intention to terminate the agreement.

According to the article, the Times-Union is attempting to cut its costs by 20 percent. This will almost certainly require some employees to be laid off; disagreements had formed between the paper and the union over how to do so.
Some union members have already begun protesting the decision.

Click here to read more.

Atlanta Journal-Constitution lays off news graphics department

The Atlanta Journal-Constitution, which announced late last month that it would lay off 90 members of its news staff, will now be eliminating the rest of its news graphics department as well, according to Charles Apple of VisualEditors.com.

There were only four staffers remaining in the News Art department of the Atlanta Journal-Constitution, as of Thursday. We seem to recall there were a total 15 or 16 in that department when we last counted, back in 2002.

Now there are none. However, it seems that the redesign the paper has been working on will still go forward as planned.

To read more, click here.

Former CNBC host, anchor Dylan Ratigan talks about leaving the financial network

Dylan Ratigan spoke with The Business Insider's Henry Blodget about his recent departure from CNBC. Ratigan squashed the rumor that he left CNBC because of a conflict with management. "People may think that my departure was in some way a reflection on CNBC. I'm telling you, it was a reflection on me," he said. 

Ratigan mentioned the timing of his departure from CNBC coincided with "some of the major policy failures in America" that he believes need to be further discussed and dissected by journalists. He said that while this issue is "pursuable" at CNBC, it is "more broadly pursuable from a variety of other platforms." When pressed about which platforms he had in mind, Ratigan said, "Pick them. ABC, CBS, HBO, MSNBC, CNN, FOX." 

But viewers may have to wait to see Ratigan on-air at another network. Ratigan suggested the rumored non-compete clause in his contract with CNBC may be what's holding things up. When asked when he might return to television, Ratigan said, "Call [NBC President and CEO] Jeff Zucker and ask him. He controls the contract. He can waive it tomorrow." 

For more from the interview click here. 

Newspaper stocks post solid gains

Several newspaper stocks posted solid gains Thursday, led by Gannett, which rose nearly 40%, according to Editor & Publisher.

Some of the optimism may have been stoked by the disclosure in a Securities and Exchange Commission filing that Chicago-based Ariel Capital Management had bulked up its stake in Gannett to 12.5% of outstanding shares from 4.8% at the end of 2008. Ariel-affiliated mutual funds reported last Dec. 31 that they held an additional total stake of about 7.25%.

The New York Times' stock rose 58 cents, or just under 12 percent, and shares of McClatchy Co. and Tribune Co. were up as well.

To read more, click here.

"Mad Money" celebrates 1,000th episode

CNBC's Jim Cramer has something to celebrate despite the criticism the television host has received recently. His show, "Mad Money," hit the 1,000th episode benchmark Wednesday. The milestone was commemorated in front of a live studio audience and featured surprise appearances from some of Cramer's friends and favorite guests. Cramer and his crew also kicked off the trading day by ringing the opening bell on the New York Stock Exchange. 

From the press release:

Throughout "Mad Money's" four-years on air and its 1,000 episodes, the outlook on Wall Street and the world have drastically changed, but Cramer's mission has remained the same...to try to make you mad money. Cramer is celebrating this milestone with the Cramericans who are the very reason he does the show each night. 

During the show's run, there have been "35,892 sound effects, 16,114 miles on the road, 672 CEO interviews, 987 Lightning Rounds, more than 1,500 booyahs, [and] 1 rant heard round the world." To celebrate, CNBC Mobile Web site will also launch a "Mad Money with Jim Cramer" application in the near future. The site will give fans access to Cramer's stock pics, video and blog on their mobile phones. 

For more click here. 

Hearst "encouraged" by Seattle P-I transition so far

The Seattle Post-Intelligencer has been online-only for roughly three weeks now, and owner Hearst seems to think the transition is going well so far, according to Editor & Publisher.

Spokesman Paul Luthringer of Hearst, which owns the online news source, calls the data "above plan," adding the company is "encouraged" by it.
The P-I's last print edition was published on March 17. In the period from March 18 to April 7, the Web site had 1,253,964 page views, up by 1.2% over the same period in 2008, when page views reached 1,238,495.
Unique users, however, dropped about 10.7% to 199,001 during the web-only period, compared to 222,937 during the same period last year.
"This shows stability," Luthringer said of the numbers. "You have to be heartened."

The article also discusses some of the changes the remaining staff are working through, including covering more than one beat and taking photos more often, and how the paper is making decisions on what to cover and what to link to outside sources for.

Click here to read more.

Potential Globe shutdown could cost Times Co.

The New York Times Co. announced several days ago that in an effort to reduce debt and save money, it would attempt to close or sell the Boston Globe if it cannot get concessions from the unions representing many of the Globe's employees.
According to the Boston Herald, a shutdown or even a sale of the paper could still cost the Times Co. substantial amounts of money.

Experts say the job guarantees and other benefits make the Globe not just costly to run, but also hard to sell. After all, few would-be buyers want to take on open-ended financial commitments.
Neither the Globe nor the Newspaper Guild returned calls seeking comment on the matter.
But John Ellis, a former Globe columnist turned venture-capital investor, this week estimated the paper’s uncovered liabilities at more than $100 million.

According to the article, job guarantees, pensions, and large severance payments could add up quickly on the Times Co. if it were to act on its threat.

To read more, click here.

Employees work to "Save the Strib"

A group of employees from the Minneapolis Star Tribune have launched a new site, Save the Strib, which they say aims to keep local journalism strong.
The paper filed for bankruptcy and now the Web site is asking for readers vocalize their support to keep the Star Tribune alive.
The welcome page of the site says, "Help us build a compelling case to potential new ownership that Minnesotans believe, as we do, that the Star Tribune is a vital part of our civic life."
Click here to visit the site.

CBS launches MoneyWatch.com

CBS launched it new personal finance site MoneyWatch.com this week, a venture that's supported by LinkedIn, Morningstar, Mint.com, BillShrink and StockTwits, as well as with content providers including Reuters.com and Seeking Alpha.
A story from Online Media Daily says, "through these partnerships, MoneyWatch.com will import content, community, and financial tools, as well as export its own original editorial content around the Web."
For the full story click here.
To check out the new site click here.

Reality TV and the economy

The Associated Press reports that Fox network's next topic for a reality show is the troubled economy.
The show is called, "Someone's Gotta Go," and each week a different company decides which employee will be laid off.
The story says that Fox would not detail who the host of the show is but said the person "is a business consultant who will offer advice to participating companies."
To read the full report click here.

WSJ's Murray on how to charge for content

The Nieman Journalism Lab has an interview with Alan Murray, executive editor of The Wall Street Journal Online, which details his thoughts about paid Web content.
He offers five tips on charging for content and says that the Journal has a built-in advantage because it's audience reads the paper for business and profit.
He says in the report, “The truth of the matter is there are tons of people out there paying large amounts of money, billions of dollars, to buy information every day.”
To read the full story and watch the video click here.

Detailing a company's perks

Michelle Leder has a post on her New York Times Perks Watch blog, which details how much Macy's spent on its "car program" for the company's chairman and chief executive.
The company's proxy statement revealed that last year Macy's spent $300,000 on the perk, more than triple the amount in 2007, to ensure that Terry Lundgren had a car and driver on hand to transport him to multiple locations.
To read the full blog click here.

McAllister joins Reuters

Keith McAllister will join Reuters in a new post called global editor for online, according to this report.
The story says that McAllister will become part of the multimedia and consumer management teams and will ovesee production for all online operations for Reuters News.
From the story:

His first priority will be to create multimedia products for existing and online operations in order to meet the increased challenges from Bloomberg and Associated Press, which have become more aggressive on the digital and video front.

For the full story click here.

Cutting costs at the Boston Globe

The price of the Boston Globe will jump on May 4 in an effort to keep the company "viable," according to reports from the Boston Herald.
Weekday price for the Globe will reach $1.50 and Sunday's paper will be $3.50 in Eastern Massachusetts and $4 elsewhere.
Yesterday, Bloomberg reported that the New York Time Co. was working with the Globe to fund $20 million in new savings.
The report said that shutting down the newspaper is among the options Times Co. is considering, according to Boston Newspaper Guild President Dan Totten.

Forbes launches ForbesWoman

Reuters reports that Forbes is launching ForbesWoman.
In a release, the company says the brand will serve as "a destination spot for professional women, offering breaking news, prominent voices, regular features, in-depth reports and columns, peer-driven social networking and numerous opportunities for dialogue and interactivity."
ForbesWoman launched online with a special report called “The New Executive Woman,” sponsored by Audi, which profiles the modern day female executive.
To check out the site click here.
For the full story click here.

AP to halt use of web content without permission

The Associated Press is leading a "newspaper industry initiative" that will begin fighting to stop web sites from using newspaper content without permission, according to The New York Times.

In a statement, The A.P. said it would develop a system to track news articles online and determine whether they were being used legally.
The statement did not mention Google or any other adversary by name, but many newspaper executives have spoken recently about their concern that Google and other major aggregators and Web portals are making money from the newspapers’ work, by selling ads on news pages that turn up their articles.

Google, which owns one of the biggest sites that make use of newspaper content in Google News, has argued in the past that the snippets of information it uses fall under fair use laws.
The company started displaying advertising on its Google News service earlier this year.

To read more, click here.

Friedman: How CNBC can "regain its stride"

MarketWatch senior columnist Jon Friedman calls CNBC's first quarter of 2009 "a season in hell" filled with "image-rattling incidents." Friedman cites Santelli's "tirade," Jim Cramer's "meek performance" on Jon Stewart's show and the departures of news chief Jonathan Wald and anchor Dylan Ratigan as the major "setbacks" for the financial network, which remains in the No. 1 spot despite its recent problems. 

If you're optimistic about CNBC's prospects, you'd chalk up this period of transition as the sort of upheaval that goes on all the time in the hurly-burly of the television-news business. If you took a darker view, you'd conclude that CNBC was out of control behind the camera as well as in front of it. 

While Friedman doesn't explicitly say which side he is on, he does offer CNBC a few suggestions. He urges the network to focus on the news and stay away from tangents, analyze the news, avoid one-sidedness that might draw more criticism, take into account the "little guy" and tone down the "antics" and quiet the "yellers."

For more click here. 

Soros: US economy "won't recover this year"

Reuters reports billionaire investor George Soros told Reuters Financial Television on Monday that he thinks the U.S. economy should brace for a "lasting slowdown" and investors and consumers should not expect a recovery this year.  Soros also said the U.S. banking system is "basically insolvent." He warned that the relaxation of mark-to-market accounting rules last week may "[create] conditions for prolonging the life of U.S. 'zombie' banks." 

Soros criticized the U.S. system in general that has allowed the U.S. to spend more than it earns. He believes reform is necessary. "That is coming to an end and it will not be allowed to recur. There will have to be some change," he added. 

Soros also noted that the U.S. dollar, which has been under significant pressure, may be replaced as the world reserve currency. Soros mentioned the IMF's Special Drawing Rights, a "synthetic currency basket comprising dollars, euros, yen and sterling," as a possible replacement. 

For more click here. 

Boston Globe employees willing to accept pay cuts to save newspaper

The Boston Globe reports its employees say they are open to concessions and pay cuts if management also agrees to make some sacrifices. The New York Times Co., which owns New England's largest newspaper, threatened to shut it down Friday unless unions agreed to $20 million in concessions. The concessions would include "pay cuts, reduced company contributions to retirement and healthcare, and the elimination of lifetime job guarantees now enjoyed by some 430 workers." The Globe took a $50 million loss in 2008 and is expected to lose $85 million in 2009. The paper currently has about 1,400 employees. 

For more click here. 

Richmond Times-Dispatch lays off 59

The Richmond Times-Dispatch revealed on Thursday that it will be cutting 31 open positions and laying off an additional 59 employees from various departments, according to an article posted on the paper's website.

The layoffs follow numerous actions to reduce expenses (previous elimination of positions, improved operational efficiencies, and reduction in work hours). Loss of advertising revenue, including a changing classified market place, and a difficult economic environment force a reduction in the size of the organization. Following the layoffs, the RTD will have 602 full and part-time employees, compared to last year’s complement of 772 for the same period.

In addition, the article reported that there will be no pay increases in 2009 for employees who are not union members.

To read more, click here.

Murdoch on free Web content

Dow Jones reports that Rupert Murdoch told the cable industry's largest annual gathering in Washington, D.C. on Thursday that free online content is breaking the media industry's business models.
He added that he doesn't see the economy rebounding yet and that the markets may not recover for two or three years.
From the story:

"Nobody is making money with free content on the web except search," said Murdoch, noting the trend is particularly worrisome in the newspaper publishing, where News Corp. owns a variety of assets. "People are used to reading everything on the net for free, and that's going to have to change."

Michigan Business Review's publisher to lead The Flint Journal

Matt Sharp, the publisher of Michigan Business Review, will become the new publisher of The Flint Journal, according to reports from the paper.
Sharp is replacing his father Dave Sharp, who has been the publisher since 2005.
The Michigan Business Review, based in Ann Arbor, produces print and online business journals in four markets in Michigan.
From the story:

Sharp's retirement comes as The Journal enters a dramatic new era - publishing a print newspaper three days a week, consolidating production functions with The Saginaw News and The Bay City Times, and building up its Internet products.
"This is the ideal time to retire and change leadership," Sharp said. "We are making the transition to a full-source media company, and we have a great plan in place for success."

Lawyers: Sun-Times Chap. 11 filing could result in "restructuring or a sale"

Editor & Publisher reports that lawyers hired to manage the Sun-Times Media Group Inc. Chapter 11 bankruptcy filing say the company could ultimately be either restructured or sold. The company is the fifth newspaper publisher to file bankruptcy in the last few months. A Delaware judge approved early motions to allow the company to pay its employees and its vendors using the cash management system already in place.  

The company's problems that forced it into bankruptcy stem from roughly $600 million in back taxes and falling ad revenues. 

The Sun-Times filed for bankruptcy protection earlier this week. 

For more click here.

A.H. Belo follows pay-cut trend

A.H. Belo Corporation will become the latest newspaper owner to institute pay cuts to try to trim costs, according to an article on The Dallas Morning News' website.
The company, owner of The News, will cut employee salaries on a scale ranging from 2.5 percent for employees making between $25,000 and $80,000 to 15 percent for those earning over $225,000.

The latest initiatives come amid other cost-cutting efforts, including employee layoffs, as the Dallas-based newspaper company faces “one of the most trying advertising environments our industry has ever encountered,” said Robert W. Decherd, A. H. Belo’s chairman, president and chief executive.
Decherd will take a 20 percent base salary reduction.

The company also announced it would not contribute its 2009 pension supplement, a move that will save $6 million even though it would not happen until 2010.

To read more, click here.

CNBC's Santelli discusses financial crisis with Huffington Post editor

"Business & Media Institute" has the transcript and a link to a March 31 segment of CNBC's "Squawk Box" where Rick Santelli once again tells us exactly what's on his mind when discussing foreclosures and bank failures with Arianna Huffington, editor of The Huffington Post. In true no-holds-barred Santelli fashion, the CNBC reporter, who became a household name after his "Tea Party" rant in February, reiterates his faith in free market capitalism. When pressed about helping homeowners who are "underwater" because of the downturn in the real estate market, Santelli makes his stance on the issue very clear: 

HUFFINGTON: But if it is a question of the value of the house going down through no fault of the owner of the house?

SANTELLI: What do you mean no fault? No fault in what regard?

HUFFINGTON: Well, in the sense that it was not anything they did through fraud or through...

SANTELLI: Well, who did it?

HUFFINGTON: Well, the market did it - the same way we're bailing out AIG or Citibank. Who did that, I mean the economic conditions under which we're living - are responsible for that as well as...

SANTELLI: Did anybody complain when the prices were going up?

Santelli then says that "some people should be renters" and insolvent individuals or institutions "should all have their constitutional right to fail."

To view part of the segment click here.

Carroll to lead Gannett's ContentOne

Gannett Co. has named Jennifer Carroll as vice president and senior editor of its new news gathering and delivery initiative - ContentOne.
The move expands Carroll's current role as vice president for Gannett Digital and has her overseeing the company's next attempt to update coverage efforts.
From the release:

“Understanding audience wants and needs and guiding the development of the content that best meets those needs is the crucial part of ContentOne,” said Tara Connell, vice president/ContentOne. “Jennifer’s role in developing Gannett’s Information Center and her expertise in content generation for U.S. Community Publishing and the Digital divisions make her ideal to head up content resources for ContentOne. Further, this position is the logical extension of her role in creating Information Centers across Gannett.”

InDenverTimes: almost a reality

Former Rocky Mountain News staffers who are trying to start their own online new operation, InDenverTimes.com, are gaining some momentum.
The Associated Press reports that six more former News staffers have joined the project's original roster of 30 volunteers.
The site could go live May 4 if staffers hit the mark of 50,000 paid subscribers by April 23. Subscriptions start at $4.99 a month for a year.
The last edition of the Rocky Mountain News was printed on Feb. 27 after Scripps was unable to find a buyer.
For the full story click here.

Hardships at USA Today

USA Today Publisher Craig Moon recently announced his sudden retirement. The Wall Street Journal offers some details from Moon about the health of the newspaper he's leaving.
In the story, Moon says USA today has lost about 100,000 subscribers just from the slowdown in travel alone.
From the story:

Mr. Moon said in an interview that the slowdown has resulted in a reduction of more than 7% in the number of copies of USA Today distributed through partnerships with hotel chains such as Marriott, which account for more than half of its circulation.

About 120 staffers want SF Chron buyout

About 120 staffers at the San Francisco Chronicle have submitted applications for voluntary buyouts, according to reports from the San Francisco Business Times.
The application deadline was yesterday, but employees still have until April 3 to reconsider. Last month, Hearst said it would closer the Chronicle if costs weren't significantly reduced.
From the story:

Hearst said it needed to cut “at least” 150 jobs in order to avoid a shutdown or sale. The parent company said it’s lost $50 million or more annually in recent years, and is on track to lose more than that in 2009 without the staff cuts. Other informed sources say the losses have been even higher.

Zillow.com partners with newspapers

Editor & Publisher reports that Real estate Web site Zillow.com is partnering up 180 newspapers to launch co-branded sites.
Visitors will be able to search through local housing data in areas like home values and sales.
From the story:

Zillow will power real estate searches where users can enter any home address or neighborhood and find the value of homes, homes sold, homes for sale, open house listings and other data. More than 150 newspapers including The Tampa Tribune, Richmond (Va.) Times-Dispatch and 100 newspapers in the Community Newspaper Holdings Inc. (CNHI) chain are the first to roll out the sites.

More layoffs at Forbes?

All Things Digital reports that Forbes Media might lay off more than 50 people from its editorial and business teams in its next round of layoffs.
The story, written by Peter Kafka, says that the cuts are proportional to those made in November and January when Forbes consolidated its Web and magazine operations.
From the story:

During the last round of cuts, Forbes attributed at least some of the layoffs to the integration of the two staffs. This time around, there can’t be any reason beyond the fact that the miserable economy has been especially rough on magazines in general and business titles specifically.