Vibe, the urban music magazine, is clawing its way back to life. New owners and editors are trying to make the magazine a success reality again, and they are making the web a priority ... which shouldn't be news but is for an ailing print industry.

The new editor-in-chief, Jermaine Hall, told AdAge that "Vibe.com is really the hub," and that everything needs to point back to the online presence. The print publication will be just one part of the Vibe Lifestyle Network, a move we're also seeing with the likes of Rolling Stone, where the website is being brought back into the fold (and may actually get some resources).

Continue reading Vibe makes a comeback, realizes internet is important

Vibe makes a comeback, realizes internet is important originally appeared on BloggingStocks on Wed, 04 Nov 2009 13:00:00 EST. Please see our terms for use of feeds.

The Washington Post Company (NYSE: WPO) published data for the third quarter earlier today. Can't say I was mightily impressed by the numbers. Sure, there was a profit increase, but the top line wasn't exciting, and the newspaper division, as you might have expected, experienced a sharp decline in sales.

Net revenues rose 2%. Earnings per share came in at $1.81. That was sharply higher than the $1.08 per share recorded in the comparable period. Yet, I think you have to be careful in terms of reading too much positive spin into the growth rate.

Continue reading The Washington Post Company increases income, but shares sell off

The Washington Post Company increases income, but shares sell off originally appeared on BloggingStocks on Fri, 30 Oct 2009 16:40:00 EST. Please see our terms for use of feeds.

The mayhem in the media industry continues. The Wall Street Journal, a News Corp (NASDAQ: NWS) property, is closing its Boston bureau and sending nine employees into the wind. The newswire and MarketWatch operations are going to stay open in Boston, however, with no headcount impact.

The Journal doesn't have any plans to close other offices, according to a memo by managing editor Robert Thomson: "there are no plans, nascent or otherwise, to close any other U.S. or international bureau." The WSJ will still support an "investigative function" in Boston, but the New York-based Money and Investing team will cover Boston's mutual fund industry, which boasts such heavy hitters as Fidelity.

At the same time, magazine company Time Inc., owned by Time Warner (NYSE: TWX) is looking to cut $100 million in expenses, and layoffs will undoubtedly figure into the equation. The company that owns Time, Fortune, People and Sports Illustrated - and falls under the same umbrella as AOL, which owns BloggingStocks - is feeling the squeeze of a media recession that's even worse than the regular recession we've all been battling for what feels like decades.

Continue reading Time and WSJ to lay off more

Time and WSJ to lay off more originally appeared on BloggingStocks on Fri, 30 Oct 2009 14:20:00 EST. Please see our terms for use of feeds.

It costs a fortune to cut fat. For regular people, it can mean hundreds or even thousands of dollars on gym memberships, special meals and organic restaurants. Yet, this pales in comparison to how much the Boston Globe is spending to lose some dead weight. It could cost the NY Times Co. (NYSE: NYT) property more than $1.2 million to bid adieu to the publisher that almost ran it into the ground.

Steven Ainsley has announced that he's going to retire as publisher of the Globe after having been at the helm for three years. Though quite proud of the two Pulitzer Prizes the paper picked up under Ainsley, the announcement didn't include the fact that he almost caused the newspaper retire before him. As usual, the newspaper is all too eager to talk about its awards, without even acknowledging the fact that it's on the brink of disaster.

Continue reading Boston Globe's Ainsley $1.2 million departure package

Boston Globe's Ainsley $1.2 million departure package originally appeared on BloggingStocks on Fri, 30 Oct 2009 08:30:00 EST. Please see our terms for use of feeds.

A lot of earnings reports were issued last week. The market was busy sorting them all out. I'm going to take a fast look at several of the issuing companies.

American Express (NYSE: AXP): Don't leave home without it. Good advice for the card, perhaps, but what about the company? Should your portfolio leave home and forget this stock? I'd say so. It's not that American Express lost the earnings game. On the contrary, Bloomberg reported a beat. American Express earned 44 cents per share from continuing operations, adjusted. This was six pennies ahead of forecasts. Okay, I applaud such performance. And shares are way off the single-digit 52-week low. Thing is, I'm in love with another card business. Visa (NYSE: V). As I've stated before, I enjoy the beauty of Visa's lower-risk model. It doesn't have to put up with loan risk. Yes, the situation at American Express might be improving, but I'm not going to buy this one.

Continue reading Quick opinions on some quarterly earnings: AXP, MRK, MCD, NYT, UP ...

Quick opinions on some quarterly earnings: AXP, MRK, MCD, NYT, UP ... originally appeared on BloggingStocks on Sun, 25 Oct 2009 10:20:00 EST. Please see our terms for use of feeds.

Here are some highlights from last week's earnings coverage from BloggingStocks:

• AirTran Holdings Inc. (NYSE: AAI) reported its third consecutive quarterly profit and will increase capacity.
• Amazon.com Inc. (NASDAQ: AMZN) shares soared after it reported very strong Q3 numbers.
• Apple Inc. (NASDAQ: AAPL) reported stellar Q4 results, driven by the popularity of Macs and iPhones.
• BlackRock Inc. (NYSE: BLK) Q3 earnings soared, due in part to a tax benefit, and assets managed grew.
• Broadcom Corp. (NASDAQ: BRCM) revenue surged sequentially but note the would be flat going forward.
• Caterpillar Inc. (NYSE: CAT) beat Q3 earnings expectations and shares rose though revenue slumped.

Continue reading Earnings highlights: Amazon, Apple, Caterpillar, Hershey, McDonald's, UPS ...

Earnings highlights: Amazon, Apple, Caterpillar, Hershey, McDonald's, UPS ... originally appeared on BloggingStocks on Sat, 24 Oct 2009 14:20:00 EST. Please see our terms for use of feeds.

The folks in the news business are probably growing to hate Mondays. Gannett's (NYSE: GCI) profits are off by more than 50%, and the New York Times announced that it's chopping 100 jobs from the newsroom, along with an unspecified number elsewhere in the newspaper. Like Gannett, the New York Times cites declines in ad revenue as the reason for the decision. The company is hoping that employees will take voluntary buyouts where offered, but it is prepared to conduct a round of layoffs if necessary.

The newspaper, which is the flagship property of the New York Times Company (NYSE: NYT), cut 100 newsroom positions last year, mostly through voluntary buyouts, before a "relatively small" round of layoffs. This year's 100-job cut is approximately 8% of the newsroom, but the paper will still have the largest in the United States. Approximately 1,150 reporters and editors will remain. Already, 100 jobs have been slashed on the business side, leaving it now staffed at 1,850.

Continue reading New York Times to cut 100 newsroom positions

New York Times to cut 100 newsroom positions originally appeared on BloggingStocks on Tue, 20 Oct 2009 10:40:00 EST. Please see our terms for use of feeds.

Gannett (NYSE: GCI) lost more than half its third-quarter profits year-over-year, as the newspaper industry shows yet another sign of decline. A substantial drop in ad revenue was the primary reason for the plunge.

The newspaper giant was able to stay in the black because of aggressive cost cutting, a move that can work for only so long. For now, it's the most popular option available to the beleaguered industry, as evidenced by a New York Times (NYSE: NYT) announcement that it would slash another 100 positions from the newsroom, and more positions elsewhere.

Continue reading Gannett profit falls by more than half

Gannett profit falls by more than half originally appeared on BloggingStocks on Tue, 20 Oct 2009 09:00:00 EST. Please see our terms for use of feeds.

After months of speculation and years of underperformance, the New York Times Company (NYSE: NYT) has decided not to sell the Boston Globe and related businesses. The company claims that the changes made at the Globe to slash expenses and right the ship financially have made it worth holding on to the newspaper. This comes after two parties submitted their final bids (similar financially) for the beleaguered 137-year-old property.

The NY Times Co. picked up the Globe in 1993 for $1.1 billion. Since then, it's watched the paper's revenue and circulation plummet, a situation worsened by the advent of the internet and the newspaper industry's generally slow response to it. Now, it's apparently worth just under 10% of NYT's original purchase price, with the offers pushed higher by both parties' willingness to assume $59 million in pension liabilities.

Continue reading NYT pulls Boston Globe off the block

NYT pulls Boston Globe off the block originally appeared on BloggingStocks on Thu, 15 Oct 2009 08:00:00 EST. Please see our terms for use of feeds.

The next step remains uncertain for what will go down in history as among the worst newspaper acquisitions.

On Friday, the deadline for submitting bids for the Boston Globe, which is owned by The New York Times Company (NYSE: NYT), passed. Two major contenders were expected to write figures on slips of paper and slide them across the proverbial desk: Platinum Equity, a Beverly Hills-based private equity firm and owner of the San Diego Union-Tribune, and Stephen E. Taylor, whose family sold the Globe in 1993.

Continue reading Boston Globe's future remains uncertain

Boston Globe's future remains uncertain originally appeared on BloggingStocks on Sun, 11 Oct 2009 15:10:00 EST. Please see our terms for use of feeds.

In Internet Wealth Builder, he explains, "I have been involved in the newspaper industry for good portion of my career; so it has been with great dismay that I've watched the industry crumble over the last few years." For contrary investors, he looks to New York Times (NYSE: NYT) and Gannett (NYSE: GCI).

"The Internet in general has siphoned off millions of dollars of advertising that used to belong to the newspaper industry.

Continue reading Printing profits? A contrary look at newspapers

Printing profits? A contrary look at newspapers originally appeared on BloggingStocks on Fri, 02 Oct 2009 13:00:00 EST. Please see our terms for use of feeds.

With the Apple (NASDAQ: AAPL) Tablet, newspapers doing what they should have done: thinking about the possible impact to their business and trying to find ways to mitigate it. This comes 15 years after the industry ignored the internet and a decade after it disregarded Google (NASDAQ: GOOG). Of course, unwilling to admit its salient and severe fallibility, the newspaper folks are saying that they don't want the Tablet to destroy print the way the iPod destroyed the music industry.

The newspapers are apparently worried that circulation could plunge, driving profits through the floor and jeopardizing their abilities to operate. They are concerned that properties like the New York Times Co.'s (NYSE: NYT) Boston Globe could wind up selling for a single-digit percentage of the original purchase price.

Continue reading Newspapers resist Apple Tablet, like they've resisted everything else

Newspapers resist Apple Tablet, like they've resisted everything else originally appeared on BloggingStocks on Fri, 02 Oct 2009 12:40:00 EST. Please see our terms for use of feeds.

The battered Boston Globe isn't worth 90% of what the NY Times Co. (NYSE: NYT) paid for it, but it seems to have bounced a bit from the bottom of the barrel. In a meeting with a few hundred of the newspaper's employees, company chairman Arthur Sulzberger Jr. and CEO Janet Robinson revealed that the Globe's finances have improved significantly. Because of this development, they continued, there is a chance the newspaper will not be sold.

This was the first meeting between company executives and the Globe's unions since the latter accepted pay cuts back in July. The newspaper, which has a 137-year history, lost $50 million in 2008 and looked like it was going to drop another $85 million this year. Though this no longer appears likely, the Globe is still in rough shape.

Continue reading Boston Globe may be off the block

Boston Globe may be off the block originally appeared on BloggingStocks on Thu, 10 Sep 2009 11:50:00 EST. Please see our terms for use of feeds.

Platinum Equity, the private equity firm that recently bought The San Diego Union-Tribune, has joined the bidding to acquire The Boston Globe from The New York Times Co. (NYSE: NYT).

The New York Times reported that "Platinum, based in Beverly Hills, bid $35 million and would assume $59 million in pension liabilities, according to people briefed on the process, who asked not to be named because they were not authorized to discuss the matter."

Continue reading Platinum Equity joins auction for The Boston Globe

Platinum Equity joins auction for The Boston Globe originally appeared on BloggingStocks on Mon, 10 Aug 2009 11:40:00 EST. Please see our terms for use of feeds.

The New York Times Company (NYSE: NYT) has hired Goldman Sachs Group Inc. (NYSE: GS) to "explore a potential sale" of the New England Media Group, according to a document filed Thursday with the Securities and Exchange Commission (SEC).

New England Media Group includes such assets as the Boston Globe, which was purchased for $1.1 billion back in 1993, as well as the Worcester Telegram & Gazette, which was acquired for $295 million in 2000.

Continue reading New York Times hires Goldman to advise on Boston Globe sale

New York Times hires Goldman to advise on Boston Globe sale originally appeared on BloggingStocks on Fri, 07 Aug 2009 11:40:00 EST. Please see our terms for use of feeds.

Continue reading Boston Globe remains in limbo as auction is delayed

Boston Globe remains in limbo as auction is delayed originally appeared on BloggingStocks on Wed, 08 Jul 2009 10:30:00 EST. Please see our terms for use of feeds.

The NY Times Co. (NYSE: NYT) has decided to double down on a failing strategy: Charge more for print. As circulation declines, the ailing newspaper company has decided to extract as much revenue as possible from its tangible product, despite the fact that the market is shrinking.

Starting Monday, the company's flagship newspaper will cost $2 an increase of a third from the previous newsstand price of $1.50.

Continue reading NY Times: When nobody buys newspapers, charge more

NY Times: When nobody buys newspapers, charge more originally appeared on BloggingStocks on Thu, 28 May 2009 09:00:00 EST. Please see our terms for use of feeds.

Continue reading Drop in newspaper circulation continues: But not fast enough!

Drop in newspaper circulation continues: But not fast enough! originally appeared on BloggingStocks on Mon, 27 Apr 2009 16:30:00 EST. Please see our terms for use of feeds.

The New York Times (NYSE: NYT) is set to report Q1 earnings on Tuesday, April 21. Don't expect a profit. In fact, I wouldn't expect much of anything. After all, we are talking about a company that makes its money off newsprint. Sad as it might be to say, newspapers are fast becoming dinosaurs in the age of digital information.

According to this source, analysts think that the New York Times will lose about $0.04 per share. That's really bad, considering that the same source says that the company was profitable in the year-ago frame, generating $0.09 per share. It isn't surprising though, is it? Not only has the recession destroyed advertising growth in all forms of media, but newspapers simply aren't looked to anymore as the first source of news. The Internet has disrupted that reputation for good.

Continue reading Earnings preview: New York Times' first quarter not expected to be good

Earnings preview: New York Times' first quarter not expected to be good originally appeared on BloggingStocks on Mon, 20 Apr 2009 17:20:00 EST. Please see our terms for use of feeds.

The newspaper industry is in deep trouble. How so? It costs a lot to write, print, and deliver a newspaper, and with more people getting their news for free online and a plunge in advertising, costs are higher than revenues. The New York Times (NYSE: NYT) bought my local newspaper, The Boston Globe, in 1993 for $1.1 billion and is now threatening to shut it down unless its unions agree to $20 million in cost cuts. I don't think this is a viable plan -- instead The Boston Globe should stop producing its paper version and charge for access to its online content.

The Boston Globe is suffering from drops in circulation and advertising, and it has 13 unions propping up its costs. How bad is the pain? Its average weekday circulation fell 10% to 323,983 for the six months ending September 2008. Advertising revenues across the industry declined 16% in 2008. And the Boston Newspaper Guild -- whose members include 700 editorial, advertising, and business employees -- is being asked to take pay cuts and put an end to company pension contributions and lifetime job guarantees.

Continue reading How to save the Boston Globe

How to save the Boston Globe originally appeared on BloggingStocks on Sun, 05 Apr 2009 10:00:00 EST. Please see our terms for use of feeds.