AOL Inc. is eliminating about 500 positions at its struggling Patch local-news business, or close to half of the division’s more than 1,000 employees, according to a person with knowledge of the decision.About 350 people will lose their jobs today, and roughly 150 will be asked to stay for 60 more days as the company seeks partners for some of the 900 Patch sites, said the person, who asked not to be identified because the matter is confidential. Chief Executive Officer Tim Armstrong, who apologized this week for firing a staff member in front of colleagues, announced the job cuts this morning to Patch workers.Mr. Armstrong, who has said he aims to make Patch profitable by the end of the year, told the staff last week that 400 sites would close down or look for partners, such as other local-news publishers. Today, Mr. Armstrong told employees the company may shutter as many as 20% of the Patch sites, with another 20% destined for partnerships or consolidation, the person said.Patch, which covers school-board meetings, local businesses and other neighborhood stories, has been a costly part of AOL’s strategy to transform the dial-up provider into an advertising-driven content publisher. The company has spent more than $300 million developing the sites, which serve communities and neighborhoods across the country.“Patch’s strategy will be to focus resources against core sites and partner in sites that need additional resources,” AOL said today in an e-mailed statement. “The... Continue reading at 'Crains New York'
[ Crains New York | 2013-08-16 00:00:00 UTC ]
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A few months ago, Federated Media announced it was shuttering its direct ad sales practice and essentially pushing banner-selling into the realm of machines to focus on native advertising. The move got many in the online publishing world fired up—debating whether this was an isolated incident or... Continue reading at AdWeek
[ AdWeek | 2013-02-08 00:00:00 UTC ]
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The administrator of HMV has made 190 redundancies at head office but says it remains hopeful of... Continue reading at The Bookseller
[ The Bookseller | 2013-01-31 00:00:00 UTC ]
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Seven Stories, the national centre for children's books, is making a final push to galvanise... Continue reading at The Bookseller
[ The Bookseller | 2013-01-23 00:00:00 UTC ]
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The staff of Westminster libraries have written an open letter to their council bosses, urging... Continue reading at The Bookseller
[ The Bookseller | 2013-01-17 00:00:00 UTC ]
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AOL's Advertising.com Group has named Allie Savarino Kline global cmo as the former Internet-access giant continues to shift its brand toward digital advertising. Savarino, a b-to-b marketing vet, will come over from 33Across after serving in the same role for the Washington D.C.-based social... Continue reading at AdWeek
[ AdWeek | 2012-12-12 00:00:00 UTC ]
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Canadians have had to be content with a form of Kindle Store limbo until now. They could buy Kindle ebooks, but they've had to rely on a US-centric portal that scarcely acknowledges their literary tradition. As of this weekend, they don't have to cross the virtual border: Amazon Canada now has... Continue reading at Engadget
[ Engadget | 2012-12-10 00:00:00 UTC ]
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More than 1,000 library staff will lose their jobs in the next 12 months, according to a new... Continue reading at The Bookseller
[ The Bookseller | 2012-12-04 00:00:00 UTC ]
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Children's book publisher Scholastic Corp. slashed its 2013 profit guidance and said revenue will be $1 billion lower than expected because schools are spending money on curriculum and holding back on orders, fearing federal spending cuts. Shares fell $6.34, or 20%, to $25.50 in light... Continue reading at Crains New York
[ Crains New York | 2012-11-21 00:00:00 UTC ]
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Amazon lowered the price of its Japanese Kindle Paperwhite to 100 dollars, matching the price of the recently announced Kobo Glo, while Sony's ebookstore is again on iOS. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2012-11-08 00:00:00 UTC ]
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Maxim magazine is cutting the paid circulation it guarantees advertisers from 2.5 million to 2 million next year, a 20% drop, and reducing its publishing frequency to 10 issues next year from 11 this year. Last year Maxim published 12 issues. Maxim President Ben Madden said the magazine... Continue reading at Crains New York
[ Crains New York | 2012-09-21 00:00:00 UTC ]
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While plenty of industries have shrunk over the last couple years, few have been hit as badly as newspaper publishing, which was already contracting before the economic downturn began. Since then, economic woes have simply reinforced the long-term tr ... Continue reading at Editor & Publisher
[ Editor & Publisher | 2012-09-19 00:00:00 UTC ]
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Children's Laureate Julia Donaldson has spoken out in support of libraries, arguing that it... Continue reading at The Bookseller
[ The Bookseller | 2012-09-05 00:00:00 UTC ]
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European publishers are looking into the opportunities a free trade agreement between the... Continue reading at The Bookseller
[ The Bookseller | 2012-07-30 00:00:00 UTC ]
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Sceptre has acquired two titles which look to give more insight into two of the world's... Continue reading at The Bookseller
[ The Bookseller | 2012-06-01 00:00:00 UTC ]
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The complaint says that Jobs was enlisted to sell high-ranking officials in the publisher’s parent company on the wisdom of the proposed pricing scheme. Continue reading at PC World
[ PC World | 2012-05-15 00:00:00 UTC ]
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The American Prospect is looking to raise half a million dollars this month, and gain $700,000 worth of pledged support for the new fiscal year starting in July, in order to avoid suspending publication, cutting back frequency or complete closure. Continue reading at Folio Magazine
[ Folio Magazine | 2012-05-02 00:00:00 UTC ]
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Data gathered by Nielsen BookScan for The Daily Beast show many of the same titles are popular in American cities – but exceptions include 'Heaven Is For Real' and 'The Great Gatsby.' Continue reading at The Christian Science Monitor
[ The Christian Science Monitor | 2012-04-30 00:00:00 UTC ]
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When looking at an effort with the scale of World Book Night U.S.—half a million books will be given away to strangers across all 50 states on April 23—it’s helpful to consider some numbers: 25,000 “givers” have volunteered to give away their allotment of books to people, many of whom they’ve... Continue reading at Publishers Weekly
[ Publishers Weekly | 2012-04-13 00:00:00 UTC ]
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WASHINGTON -- Former Apple Inc. Chief Executive Steve Jobs and top executives at five major book publishers illegally conspired to raise the prices of ebooks, costing consumers tens of millions of dollars, federal and state officials alleged in antitrust suits filed Wednesday. Continue reading at Los Angeles Times
[ Los Angeles Times | 2012-04-11 00:00:00 UTC ]
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