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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Today in good news, the American Booksellers Association announced that membership is at its highest level in 20 years. Per reporting by Hillel Italie at the Associated Press: The ABA added 173 members last year, and now has 2,185 bookstore businesses and 2,599 locations. Three years after the... Continue reading at Literrary Hub
[ Literrary Hub | 2023-05-22 15:55:36 UTC ]
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The company’s high-volume approach to digital publishing has led to duplicated stories and alienated some of its journalists. At least one editor has already resigned. Continue reading at The New York Times
[ The New York Times | 2023-05-21 00:15:06 UTC ]
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Their young audience made them the envy of the media’s old guard. But, ultimately, they couldn’t convert this into profitAfter Rupert Murdoch invested tens of millions of pounds in his digital publishing company in 2013, Shane Smith, boss of Vice Media, laughed at how much old media companies... Continue reading at The Guardian
[ The Guardian | 2023-05-20 07:00:50 UTC ]
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A Connecticut bill would provide funding for sanctuary libraries across the state. That, plus this week's book censorship news. Continue reading at Book Riot
[ Book Riot | 2023-05-19 10:40:00 UTC ]
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‘Embarrassed’ Daily Telegraph writer and Fox Sports host tells reporters outside court it is his turn in the spotlight of the ‘rugby league soap opera’Follow our Australia news live blog for the latest updatesGet our morning and afternoon news emails, free app or daily news podcastThe News Corp... Continue reading at The Guardian
[ The Guardian | 2023-05-17 07:00:21 UTC ]
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Libraries need our support now more than ever. Here are some of the ways you can volunteer and give back to help your local library. Continue reading at Book Riot
[ Book Riot | 2023-05-15 10:30:00 UTC ]
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The Illinois Senate has passed HB 2789, a bill whose terms dictate that state funding from libraries that remove books will be withheld. Continue reading at Book Riot
[ Book Riot | 2023-05-04 16:31:45 UTC ]
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As part of a two-day program curated by Association of American Literary Agents, Daunt will discuss how the company’s initiatives and plans for the future will impact the publishing industry during an address on Tuesday, May 23. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-05-01 04:00:00 UTC ]
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BuzzFeed changed the way news was reported for the digital age. But it became a casualty of its lopsided relationship with FacebookThe announcement of the demise of BuzzFeed News last week felt unlike the cavalcade of media closures and layoffs of the past decade. In a sense, it represented the... Continue reading at The Guardian
[ The Guardian | 2023-04-26 03:36:53 UTC ]
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BuzzFeed News' closure represents the struggles of news media, but larger, the mismanagement of digital media properties in a world of consolidation. Continue reading at Digiday
[ Digiday | 2023-04-24 04:01:00 UTC ]
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Despite winning a Pulitzer Prize in 2021 for coverage of China's mass detention of Muslims, BuzzFeed News' journalistic success has not delivered business results. Continue reading at Media Week
[ Media Week | 2023-04-21 14:23:32 UTC ]
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Revamped Sarah Ferguson documentary to air on Four Corners after initial version sparked complaints. Plus: the Australian’s own goalFollow our Australia news live blog for the latest updatesGet our morning and afternoon news emails, free app or daily news podcastHours before Lachlan Murdoch... Continue reading at The Guardian
[ The Guardian | 2023-04-21 04:27:06 UTC ]
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Pulitzer Prize winning digital media outlet BuzzFeed News is being shut down as part of a cost-cutting drive by its corporate parent that's shedding about 15% of its entire staff Continue reading at ABC News
[ ABC News | 2023-04-20 23:02:36 UTC ]
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“The heavy-handed tactics of state legislators are mandating book bans, plain and simple,” said Suzanne Nossel, CEO of PEN America, in a release announcing the new report. “The numbers don’t lie, and they reveal a relentless crusade to constrict children’s freedom to read.” Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-04-20 04:00:00 UTC ]
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The latest celebration of emerging literary talent brings thrills, charm and emotional punch to the page. But this new generation have taken an inward turn compared with the more worldly themes of bygone yearsEvery decade since 1983, an editor of the literary quarterly Granta has tasked a panel... Continue reading at The Guardian
[ The Guardian | 2023-04-16 06:00:03 UTC ]
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Company denies breaking the law but agrees to pay $210,000 penalty imposed by Liquor & Gaming NSWFollow our Australia news live blog for the latest updatesGet our morning and afternoon news emails, free app or daily news podcastThe News Corp-backed wagering company Betr has been fined a... Continue reading at The Guardian
[ The Guardian | 2023-04-14 02:39:52 UTC ]
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Publisher’s defence in case brought by News Corp co-chairman relies in part upon Dominion’s US suit against media giantFollow our Australia news live blog for the latest updatesGet our morning and afternoon news emails, free app or daily news podcastLachlan Murdoch allowed Fox News hosts to... Continue reading at The Guardian
[ The Guardian | 2023-04-12 07:32:45 UTC ]
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What states spend the most money on their public libraries and what states see the most use per person? Continue reading at Book Riot
[ Book Riot | 2023-04-06 11:21:40 UTC ]
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The ebook and audiobook distributor Bookwire opens its presence in a seventh country, looking to the United States for new business. The post Germany’s Bookwire Announces Opening a United States Subsidiary appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2023-03-30 16:58:12 UTC ]
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Are publishers acquiring fewer LGBTQ+ and diverse books in the wake of rising censorship? This week's book censorship news. Continue reading at Book Riot
[ Book Riot | 2023-03-24 10:40:00 UTC ]
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