Tuesday, November 27, 2007

Bad News

Are these stories related, or what???!!!

From Editor & Publisher, the Dutch-owned, self-described, "America's Oldest Journal Covering the Newspaper Industry" is news of some changes at the LA Times.

'LA Times' Creates Reader Representative's Blog
Editor James O'Shea said, "The ongoing changes reflect The Times overarching goal of becoming a more transparent and integrated news organization. Most important, we're further opening the lines of communication with our readers and using new ways to make the newsroom more accessible."
Naturally, Editor & Publisher does not provide a link to the new blog or the press release about the changes. The theory is that once you leave Editor & Publisher, you really don't want to return to that smarmy publication.

The new blog can be found here.

The other story at Editor & Publisher? "Tribune Co. Revenue Dropped 9.3% In October" and even then, E&P forgot to note the redline misery in the stock value <----- and national sales <------ . (From CNN Money)
  • Circulation revenue fell more than 6 percent because of declines in single-copy sales and discounts for home delivery, the Tribune said.
  • Shares in the company fell $1.23, or 4.3 percent, to $27.37 <-------
  • Publishing revenue in October dropped 7.9 percent to $287 million, with
  • ad revenue sliding 10.6 percent to $222 million.
  • National ad sales dipped 2.3 percent with softness in auto, transportation and technology categories partially offset by an increase in the movie category. <-------
  • Classified ad sales slumped 19.2 percent, as real estate tumbled 26.9 percent on significant dropoffs in Los Angeles, Chicago and Florida.
  • Help wanted ad revenue declined 21.7 percent and
  • automotive fell 4.9 percent.
  • Interactive sales were a bright spot, rising 11.4 percent to $22 million.
  • Retail advertising sales slid 7.8 percent as declines in department stores, amusements and electronic categories were partially offset by a rise in the health care category.
  • Broadcasting and entertainment revenue slipped 13.3 percent to $96 million on declines in television group revenue and Chicago Cubs revenue.
  • Television revenue fell 7.1 percent on dropoffs in political, movies and retail, partially offset by strength in food/packaged goods, telecom and restaurant/fast food categories.

No comments: