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NEWS OF THE INDUSTRY Newspaper Guild Contract Settlements Honolulu Advertiser joins other Guild locals in contract settlements Since the last SEC meeting in September 2008, there have been 39 contract agreements from 27 Locals representing a total of 10,500 members in the U.S. and Canada. Most of those members work for newspapers. Others work for wire service organizations or the broadcast media.
NALC food drive volunteers needed The NALC Food Drive is the largest of its kind in the nation, and the Hawaii Foodbank has been more than generous in working with our program. This is the perfect opportunity for us to give back to the Hawaii Foodbank.
WDC SPRING MEETING Western locals eye plan to share staff Need to reduce costs and step up organizing Delegates to the spring meeting of the Guild’s Western District Council voted Saturday to pursue a new regional approach to organizing, servicing and other critical functions. The idea was inspired as a response to the financial impact of job cuts in the news industry and growing recognition that rank-and-file union members must be given more tools to run their own locals.
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MediaNews Group: We're not on brink of bankruptcy MediaNews Group late Wednesday denied a report in an investors newsletter that it is arranging a pre-packaged bankruptcy -- or readying any change in ownership of the Denver-based publisher controlled by William Dean Singleton and Richard B. Scudder. Murdoch denies interest in acquiring NYT Murdoch, the 78-year-old News Corp. (NWSA Quote) chairman and CEO who moved television news considerably to the political right with Fox News, stunned the U.S. newspaper establishment in 2007 with his purchase of Dow Jones and The Wall Street Journal. Judge: Philly newspaper creditors must share taping info A federal judge overseeing the bankruptcy proceedings for Philadelphia Newspapers LLC ordered lawyers for the company's creditors to share details of their investigation into an alleged unauthorized recording of a meeting with the company's lenders. Indy Star Guild overwhelmingly rejects contract offer The Indianapolis News Guild overwhelmingly rejected a two-year contract offer from The Indianapolis Star that would have included a 12% pay cut, no pay increases for at least two years, and the elimination of arbitration on individual layoffs. |
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MORE NEWS OF THE INDUSTRY 1Cast: Hitting the mobile video aggregation trifecta "Mobile." "Video." Usually, these are the rather dry one-world descriptions of What's Next, items on to-do lists for anyone serious about building new digital businesses. Add "Social," and you've got a trifecta.
St. Paul Pioneer Press lays off in newsroom, ad sales The St. Paul Pioneer Press laid off nine newsroom employees and two more in advertising sales and production today, according to a report by the Star Tribune of Minneapolis.
Gannett Co. to execute another round of layoffs Gannett executives told told The New York Times' Richard Perez-Pena that the McLean, Va.-based company is getting ready to issue another round of layoffs.
Indianapolis Guild votes on contract with 12% pay cut The Indianapolis News Guild is voting today on a two-year contract offer from The Indianapolis Star that includes a 12% pay cut, no pay increases for at least two years, and the elimination of arbitration on individual layoffs.
Moody's and S&P lower ratings on McClatchy Standard & Poor's Rating Services and Moody's Investor Services both lowered their corporate ratings of McClatchy Co. on Friday following a debt exchange deal announced by the newspaper publisher.
For the Seattle Times Co., relief is not spelled M-A-I-N-E Estimates put the sale price at $30-40 million, about a $200 million loss from the 1998 purchase price. And the Seattle company apparently has to carry unfunded pension liabilities as part of the deal. When the Seattle Times Co. announced June 15 that it had sold its Blethen Maine subsidiary to an investment group, Maine Today Media, Carolyn Kelly, the Times president and chief operating officer, quickly noted in a staff memo that the sale, while welcome, "does not solve the financial challenges we face."
Freedom Communications, under new CEO, cuts pay 5% for all staffers Barely two weeks after being named interim CEO of Freedom Communications, Burl Osborne announced that company-wide salaries will be cut by 5%.
Why the New York Times Co. will be in business until at least 2012 Revolving Credit Facility Due Date Looms, but Sulzbergers Should Be Able to Retain Control "The month of May came and went," the New York Times Co. told staff last Thursday, "and, contrary to the prediction of one writer, we did not stop printing."
More than 250 business journalism jobs lost More than 250 business journalists lost their jobs due to media closings, layoffs or newsroom buyouts in the first six months of 2009, according to an analysis of the industry.
McClatchy bond swap cuts debt by $75 million The McClatchy Co.'s offer of discounted buybacks to bondholders has expired, with the exchange reducing public bond debt by $75 million.
Times Co. may include 2nd paper in Globe sale The New York Times Company hopes to sell a newspaper in central Massachusetts along with The Boston Globe and wants the buyer of the papers to take on $59 million in pension liabilities. It intends to make a deal quite quickly, according to a letter sent to potential bidders.
Post-Tribune Guild wants to buy newspaper Union employees at the Gary Post-Tribune are launching an effort to purchase the newspaper, which is the second largest newspaper in the bankrupt Sun-Times Media Group.
McClatchy distressed debt exchange fails on swaps McClatchy Co.'s attempt to cut its debt by exchanging bonds at discounted prices failed as the third-largest U.S. newspaper publisher struggles to cope with the biggest industry ad sales plunge in at least 38 years.
Pocantico signals new networked future for 'watchdog' news sites Pocantico once served as one of the Rockefellers' family estates. Stately, 45 minutes north of Manhattan, it speaks to the wealth of an earlier industrial era. The Rockefellers, of course, built their fortunes on oil, but their brethren, like the Hearsts and the Pulitzers built them on paper and ink. The kinship is palpable as we move into the era of digital publishing and renewable energy.
McClatchy debt exchange closes short of maximum goal The McClatchy Co., which had offered to exchange as much as $1.15 billion in debt for deeply discounted new notes that pay far higher yields, said Friday the offer had closed -- with holders of old notes with face values totaling $102.9 million accepting the offer.
Top 30 global news sites also see drop in time spent The drop in average time spent in May on Web sites is not just isolated to newspapers: Time spent per user was down for more than half the top 30 global news and current events sites, according to Nielsen Online.
When there's no print edition, do readers flock to the Web? Following the sagas that played out in Denver and Albuquerque, Seattle has become the latest market that can no longer support two major dailies. Hearst in January was forced to make a critical decision on what to do with the Seattle Post-Intelligencer: Kill the P-I altogether, or let it live online. It chose, of course, the latter -- and March 17 marked the last day a Post-Intelligencer print edition would roll off its presses. But was this a terribly sad, or actually quite promising turning point?
Economic turmoil and the Globe's future The tentative deal between the New York Times Co. and the Boston Newspaper Guild over wage and benefit cuts at the Boston Globe (here, here and here) comes in the midst of unprecedented economic turmoil. |
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