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7-14-08 Happenings with the Media Old and New

On a frequent basis, one learns that some national newspaper is cutting staff and operating costs.

AVOC

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July 14, 2008

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Happenings with the Media – Old and New

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By Wendell Dawson, Editor, AVOC, Inc

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The Internet, Blogs and Talk Radio have impacted the print media and T V networks dramatically.   On a frequent basis, one learns that some national newspaper is cutting staff and operating costs.

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Costs continue to escalate and advertising revenue keeps declining for newspapers.  Citizens now have many alternative ways of gaining information outside of the printed media.   It has changed the media landscape.    I still enjoy reading a balanced and fair newspaper for detail.   However, the many choices we have means that we are not “chained” to one media source.   If we don’t like a particular media source we can find another.   That is a good thing.    Competition is great.

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The contrast can be seen with some recent headline articles carried in the National Media.  The “new media” is thriving as demonstrated in the successes reported for Matt Drudge and Rush Limbaugh.See Excerpts below.

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7-14-08 Problems at Chicago Times and L A Times

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Yahoo! Finance

http://biz.yahoo.com/ap/080714/la_times_publisher.html?.v=2

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July 14, 2008

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Chicago Tribune editor Lipinski, LA Times publisher Hiller resign as Tribune Co. cuts costs

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By Jeremy Herron, AP Business Writer

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NEW YORK (AP) -- Chicago Tribune editor Ann Marie Lipinski and Los Angeles Times publisher David Hiller resigned Monday as parent company Tribune Co. cuts staff and shrinks its papers nationwide to save money.

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Tribune Co. is cutting costs to offset declines in advertising and circulation revenue that have sharpened this year for most newspapers in the United States.

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Lipinski has been in the top post at Tribune Co.'s flagship paper for seven years. Her departure comes a week after the 161-year-old newspaper told its staff it would eliminate about 80 newsroom jobs.

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The Los Angeles Times says publisher David Hiller has resigned after 21 months at the helm of Tribune Co.'s largest paper.

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The Times said two weeks ago it will cut 250 positions, including 150 in the newsroom. The paper did not immediately name a successor.

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7-10-08 New York Times Stock going down, down, down…..

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New York Post

http://www.nypost.com/seven/07102008/business/ny_times_hits_10_year_low_on_downgrade_119276.htm

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July 10, 2008

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NY TIMES HITS 10-YEAR LOW ON DOWNGRADE

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By KEITH J. KELLY

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Hours after The New York Times Co. suffered the embarrassment of a third person scaling its Eighth Avenue headquarters in recent weeks, the company got pounded by Wall Street, which sent its shares tumbling when an analyst said its stock was pricey relative to its peers.

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The stock sank 7 percent, or $ 1.05, to $ 14.01 yesterday, near its lowest point in 10 years and 77 percent off its 52-week high of $ 24.76.

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The drubbing came after Lehman Brothers analyst Craig Huber slammed the Times' shares for being too expensive, compared with Gannett and McClatchy.

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Huber also ratcheted down his previous price target to $ 8 a share from $ 12 a share, due to the industry having deteriorated faster than he earlier predicted, adding, "We think the shares have significant further downside risk over the next year as the stock is the most expensive in the [newspaper] group, plus Street estimates remain way too high in our opinion."

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He urges the company, which is run by CEO Arthur "Pinch" Sulz berger Jr., to cut its dividend, claiming it should utilize the money to pare down the company's $ 1.05 billion debt. ……………….


7-10-08 How Matt Drudge Rules the (Political) World

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Washington Post.Com Blogs

http://blog.washingtonpost.com/thefix/2008/07/how_matt_drudge_rules_the_poli.html

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July 10, 2008

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The Fix

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By Chris Cillizza

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How Matt Drudge Rules the (Political) World

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There's little debate that Matt Drudge and his eponymous website sit at the junction of politics and journalism in the modern media age.

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This observation is not new. John F. Harris, editor-in-chief of Politico, and Mark Halperin, author of "The Page" at time.com, dedicated a significant segment of their book "The Way to Win" to the unique influence Drudge wields over American politics. New York magazine's Phillip Weiss wrote a lengthy but well worth reading profile of Drudge last year. And Ben Smith and Jonathan Martin -- both of Politico -- offered their own examination of Drudge's reach during the Democratic primary in a piece last month.

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And yet, for anyone who follows the day in, day out nitty-gritty of campaign politics (as we do) it is well worth reminding yourself of how much power Drudge has to push a particular storyline or a broader narrative in the race.

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Witness the maelstrom set off by a Drudge headline posted last evening that blared: "CHICAGO SLAPDOWN: REV. JESSE JACKSON SAYS OBAMA TALKING DOWN TO BLACKS."

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The item, which featured a hint at the comments made about Barack Obama by Jackson in front of an active Fox News Channel mic and later reported on "The O'Reilly Factor", immediately shot around the newsrooms of the country and reporters sprung into action……………………………..

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7-2-08 LIMBAUGH SIGNS THROUGH 2016 -$ 400 MILLION DEAL SHATTERS RECORDS

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THE DRUDGE REPORT

http://www.drudgereport.com/flashrl.htm

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July 2, 2008

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LIMBAUGH SIGNS THROUGH 2016; $ 400 MILLION DEAL SHATTERS BROADCAST RECORDS
.Wed Jul 02 2008 09:02:18 ET
**Exclusive**

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The American broadcast industry is rocked, realigned and blasted into a new orbit, yet again, by Rush Limbaugh, the DRUDGE REPORT has learned.
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In what is being described as an unprecedented radio contract, Limbaugh will keep his syndicated show on-the-air and e-v-e-r-y-w-h-e-r-e through 2016 with CLEAR CHANNEL and PREMIERE RADIO.
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Already host of the most lucrative hours since radio's inception, Limbaugh's total package is valued north of $ 400 million, according to media insiders.
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The NEW YORK TIMES will claim this weekend that Limbaugh, marking 20 years this summer as a national host, has secured a 9-figure signing bonus for the new deal, newsroom sources tell DRUDGE.

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Earnings now pace him ahead of the annual salaries for network news anchors: Katie Couric, Brian Williams, Charlie Gibson and Diane Sawyer — combined!
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The deal represents a stunning triumph over the establishment by an outsider who connected with and captured the spirit of the nation's heartland.
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……….the TIMES reports that Limbaugh is buying a new G550 jet and is making an estimated $ 38 million a year.
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