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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EveryLibrary's John Chrastka argues that the legislative attacks on the work of library associations, if allowed to stand, could undermine the foundation of all professional association activities and destabilize the collaborative networks vital to any profession. Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-03-15 04:00:00 UTC ]
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New legislation could thwart planned £600m purchase of media group by UAE-backed consortiumThe UK government plans to introduce legislation that would prevent foreign governments owning UK newspapers and news magazines in a significant move that could scupper the planned £600m sale of the... Continue reading at The Guardian
[ The Guardian | 2024-03-13 15:52:35 UTC ]
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Libraries across the U.S. are struggling to cover the cost of e-books, which have grown in popularity Continue reading at ABC News
[ ABC News | 2024-03-12 14:54:40 UTC ]
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Planned acquisition by UAE-backed RedBird IMI is being considered by the culture secretaryBusiness live – latest updatesMedia groups have reportedly shown fresh interest in a takeover of the Telegraph and Spectator alongside Redbird IMI, the UAE backed consortium.Bloomberg said Rupert Murdoch’s... Continue reading at The Guardian
[ The Guardian | 2024-03-12 14:46:36 UTC ]
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In early April, the Facebook News tab will start disappearing for users in the US and Australia. Meta has announced that it's deprecating the dedicated tab found in the bookmarks section of its social network as part of its efforts to "align [its] investments to [its] products and services... Continue reading at Engadget
[ Engadget | 2024-03-01 08:27:50 UTC ]
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An Australian startup that recently hired a new North American president plans to grow its U.S. headquarters in Denver. The startup is a digital platform that helps privately owned businesses determine their valuation. It also helps create a roadmap for a successful exit, which could include a... Continue reading at Silicon Valley Business Journal
[ Silicon Valley Business Journal | 2024-02-28 13:09:19 UTC ]
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Newsroom director decries The Australian’s ‘constant’ swipes at individual ABC employees. Plus: a mushroom misstepFollow our Australia news live blog for latest updatesGet our morning and afternoon news emails, free app or daily news podcastWhen the ABC Indigenous affairs editor, Bridget... Continue reading at The Guardian
[ The Guardian | 2024-02-16 02:50:06 UTC ]
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Thanks to algorithms, our digital worlds are created for us, not by us. As a result, libraries are seen by some as scary because they reach an entire community—not just an individual. That, plus this week's book censorship news. Continue reading at Book Riot
[ Book Riot | 2024-02-09 12:30:00 UTC ]
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Microsoft is teaming up with media website Semafor on a new project that uses ChatGPT to aid in the creation of news stories, The Financial Times has reported. It's one of several journalistic collaborations Microsoft is set to announce today, and follows a New York Times lawsuit filed against... Continue reading at Engadget
[ Engadget | 2024-02-05 12:43:20 UTC ]
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On 'Books, Beach, & Beyond,' which will return for a second season this summer, two pillars of the Nantucket literary community—bestselling novelist Hilderbrand and Nantucket Book Foundation president Ehrenberg—talk shop with such star guests as Colleen Hoover, Taylor Jenkins Reid, and Ann... Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-01-31 00:00:00 UTC ]
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McIlveen was previously editor-in-chief of news.com.au and founding editor of Daily Mail Australia. He takes on Tory Maguire’s former role at the Age and SMHFollow our Australia news live blog for latest updatesGet our morning and afternoon news emails, free app or daily news podcastFormer News... Continue reading at The Guardian
[ The Guardian | 2024-01-22 04:15:05 UTC ]
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Police said the passenger attempted to open a door, which can't be done at cruising altitude. He was restrained by Air Canada employees during the flight as part of their safety protocols and met with officers once the plane landed at Pearson International Airport shortly after 3 p.m. Continue reading at CBC
[ CBC | 2024-01-21 22:50:31 UTC ]
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Novel with author China Miéville thrills everyone from ardent followers to big publishersPenguin is cock-a-hoop, and Waterstones, tweeting the latest literary news, uncovered multiple gifs on a theme I’d never encountered before: “Take my money”. Please, begged the fan army, take my money and... Continue reading at The Guardian
[ The Guardian | 2024-01-12 17:38:10 UTC ]
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Though they’re sometimes characterized as attention-addled homebodies, younger people see a real value in libraries − one that goes beyond books. Continue reading at The Conversation
[ The Conversation | 2024-01-12 13:28:57 UTC ]
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Public libraries need to prepare for what's happening at school libraries to happen to them. That, plus this week's book censorship news. Continue reading at Book Riot
[ Book Riot | 2024-01-12 11:40:00 UTC ]
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Our exclusive November bestseller lists in China saw boosts from annual 'Double 11' sales and a new interest in traditional Chinese medicine. The post China Bestsellers: ‘Three-Body’ News and November Sales appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2024-01-08 17:36:42 UTC ]
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The data supports the work of libraries and library workers far more than it doesn't. That, plus this week's book censorship news. Continue reading at Book Riot
[ Book Riot | 2024-01-05 11:40:00 UTC ]
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