Even compared to this year’s other brutal weeks for American journalism, the past seven days have been particularly turbulent. Last Wednesday, the publishing giant McClatchy reported severe liquidity problems along with its third-quarter results; its share price has since collapsed from $2.28 to $0.40. Last Thursday, shareholders voted to approve the merger of two more media giants—GateHouse and Gannett—despite stock in GateHouse’s parent, New Media Investment Group, also having cratered since the merger was announced. The deal closed yesterday; the new company is just called Gannett. Also yesterday, Alden Global Capital—a hedge fund, notorious for cost-slashing at its media properties, that itself tried to buy Gannett earlier this year—acquired a 25-percent stake in Tribune Publishing Company, becoming its biggest shareholder. To simplify, the Wall Street types who increasingly control local news are playing with all their biggest chips at once. As Nieman Lab’s Ken Doctor told CNN last night, this week marks a “major turning point” for the industry. “At a time when local news is needed more than ever, it is the bankers who are deciding what will be defined as news, and who will be employed to report it.” From archives: Politico embarrasses WSJ by publishing transcript The closure of the Gannett–GateHouse deal was the least surprising of these new developments, and is probably the most significant. Prior to their merger, the companies were, respectively, America’s first... Continue reading at 'Columbia Journalism Review'
[ Columbia Journalism Review | 2019-11-20 13:10:34 UTC ]
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Former prime minister and media academics criticise reports, but Jeff Kennett says questions are ‘fair play’Get our morning and afternoon news emails, free app or daily news podcastKevin Rudd has accused News Corp Australia’s Herald Sun tabloid of “dog-whistling to conspiracy theorists” over its... Continue reading at The Guardian
[ The Guardian | 2022-11-08 07:13:45 UTC ]
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BookLooks, RatedBooks, and more biased online rating systems getting books banned. That, plus this week's book censorship news. Continue reading at Book Riot
[ Book Riot | 2022-11-04 10:40:00 UTC ]
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Three Kansas City businessmen who also own Made in KC have acquired the 47-year-old indie bookstore. Made in KC operates 16 outlets that sell the handiwork of local artists, and while Rainy Day will operate separately from the core business, the aim is to use those other locations to drive... Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-10-27 04:00:00 UTC ]
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Deal would seal legacy with favoured heirs, but markets question whether companies should merge in the first placeThis week’s 200th anniversary soiree for the Sunday Times gathered some of the biggest names in media at the headquarters of the British Academy of Film and Television Arts in... Continue reading at The Guardian
[ The Guardian | 2022-10-21 14:56:58 UTC ]
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The 2022 Frankfurter Buchmesse is opened with heartfelt pleasure in a return to Frankfurt — and candid alarm about coming challenges. The post Frankfurt’s News Conference: A ‘Necessary Understanding’ appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2022-10-18 22:15:47 UTC ]
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Merger would combine Fox News and TMZ with newspaper and online news operations, almost a decade after they splitThe two parts of Rupert Murdoch’s media empire are discussing a merger nearly a decade after they split.The merger would combine Murdoch’s Fox News and TMZ assets with News Corp’s... Continue reading at The Guardian
[ The Guardian | 2022-10-15 01:01:11 UTC ]
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This week's book censorship news, plus a look at US public libraries declaring themselves upholders of the First Amendment Rights of all. Continue reading at Book Riot
[ Book Riot | 2022-10-14 10:40:00 UTC ]
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Social news publisher The News Movement launched in the U.S. Wednesday, following a 10-month period where the startup honed its editorial strategy and accrued more than 80,000 followers across the major social media platforms. The publisher has attracted early attention thanks to both the... Continue reading at AdWeek
[ AdWeek | 2022-10-12 11:30:00 UTC ]
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Greenlight is thrilled to welcome award-winning author and long-time friend of the store Saeed Jones back to our Fort Greene events stage to celebrate the release of his new poetry collection, Alive at the End of the World. In haunted poems glinting with laughter, pierced by grief and charged... Continue reading at Literrary Hub
[ Literrary Hub | 2022-09-29 08:56:48 UTC ]
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Banned Books Week has been a busy week for banning books. That, plus a look at some of the regional groups pushing censorship. Continue reading at Book Riot
[ Book Riot | 2022-09-23 10:40:00 UTC ]
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Take action during Banned Books Week with these action items. That, plus this week's roundup of book censorship news. Continue reading at Book Riot
[ Book Riot | 2022-09-16 10:40:00 UTC ]
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In a resounding victory for the freedom to read, a Virginia state judge on August 30 swiftly dismissed two closely-watched cases that sought to bar the public display and sale of two books alleged to be obscene under an obscure state law, and in so doing struck down the state law the claims were... Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-08-30 04:00:00 UTC ]
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Sometime around 2006, everyone in publishing began to lament the death of the book section. In the face of declining readership, budget cuts, and mergers, newspapers began to realize that book review sections did not bring in enough ad revenue to cover their costs and so cut and culled until... Continue reading at Literrary Hub
[ Literrary Hub | 2022-08-26 16:03:34 UTC ]
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Rupert Murdoch’s publishing and media giant attributes record profits and revenue to acquisitions and digital transformationRupert Murdoch’s News Corporation has almost doubled its profits in 2021/22 to a record $US760m ($A1.1bn).The US-listed company owns News Corp Australia, as well as... Continue reading at The Guardian
[ The Guardian | 2022-08-08 23:21:18 UTC ]
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A linear city in the desert is a provocative vision of the city of the future—but it’s been tried before. Saudi Arabia’s proposal for a 105-mile-long building called the Line has all the stuff of a science fiction paperback. The stark desert setting. The kingdom in control of vast amounts of one... Continue reading at Fast Company
[ Fast Company | 2022-08-04 04:30:19 UTC ]
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The justice department is seeking to block the $2.2bn merger between Penguin Random House and Simon & SchusterThe government and publishing titan Penguin Random House exchanged opening salvos in a federal antitrust trial Monday as the US seeks to block the biggest US book publisher from... Continue reading at The Guardian
[ The Guardian | 2022-08-01 16:24:36 UTC ]
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The U.S. government and publishing titan Penguin Random House are set to exchange opening salvos in a federal antitrust trial Continue reading at ABC News
[ ABC News | 2022-08-01 13:37:10 UTC ]
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The Biden administration is suing to block Penguin Random House from buying Simon & Schuster. A United States District Court will decide if the sale can proceed. Continue reading at The New York Times
[ The New York Times | 2022-07-31 11:19:44 UTC ]
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Facebook's parent company Meta is telling its U.S. publishing partners that the company will no longer pay for news content that aggregates on Facebook's news tab. Facebook's News Tab and Bulletin newsletters will be put on the back burner as Meta moves forward with investing in AI-based video... Continue reading at AdWeek
[ AdWeek | 2022-07-29 17:11:09 UTC ]
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Russia’s media watchdog demands registration be declared invalid as independent newspaper vows legal fightRussia-Ukraine war: see all our coverageNovaya Gazeta, one of Russia’s last remaining independent news outlets, is under threat after the country’s media watchdog demanded that its website... Continue reading at The Guardian
[ The Guardian | 2022-07-29 02:18:10 UTC ]
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