WAN-IFRA

Shaping the Future of the Newspaper

Date

Sun - 21.09.2014


financial news

Reports about the global newspaper industry collapsing around our ears are a fairly common occurrence nowadays - Jack Shafer’s piece for Reuters yesterday titled “The great newspaper liquidation” is just one example. But two publications that have been defying the general gloom and growing their profits are the Economist and the Financial Times.

This being the case, perhaps it’s no surprise that Atlantic Media announced earlier this year that it would be launching a new publication to take "a run at the space that The Economist and the Financial Times currently occupy."

Author

Hannah Vinter's picture

Hannah Vinter

Date

2012-06-06 15:45

What’s next for Bloomberg LP? A long report by Gabriel Sherman for New York Magazine offers insight into the inner workings of financial media giant, owned by New York Mayor Michael Bloomberg. The article describes Bloomberg LP’s style up to this point as plain, and facts-obsessed, and “wildly profitable”. As paidContent observes, the company makes money by selling detailed financial information to 300,000 global customers at a charge of about $20,000 a year. However, Sherman writes that as Bloomberg diversifies beyond its core business, it is finding that the same model of nothing-but-pure-information journalism does not always apply. 

Author

Hannah Vinter's picture

Hannah Vinter

Date

2012-06-05 16:40

Thomson Reuters will launch an on-demand, customisable financial web video service for its paid subscribers, called "Reuters Insider" tomorrow, paidContent reported. The new product will include specially produced video programming by Reuters, as well as 150 of its content partners, including CNBC.

The video platform was created to help hedge funds, traders, research analysts, banks and brokers communicate with clients, as well as to transform "financial programming from a passive one-way broadcast into a highly collaborative and personalised medium," according to the Financial Times. Subscribers pay as much as $2,000 a year.
Taking the video and online social networking revolution into the financial sector indicates the increasing reliance by traders on videos with data, graphs and charts embedded within for trading decisions.

The service is much like a Youtube for the financially interested, David Carr wrote in an article for The New York Times. It has a main window called Channel One, which enables subscribers to navigate and search for videos by sector, date, markets or region, and facilitates application of filters to create personalised channels.

Author

Savita Sauvin

Date

2010-05-11 00:17

Philadelphia's two main daily newspapers are looking for a new owner as part of a plan to settle US$318 million in debt.

The Philadelphia Inquirer reported Wednesday that an auction is set for next week for Philadelphia Newspapers LLC, the parent company of the Inquirer, which also owns the Philadelphia Daily News and Philly.comA bankruptcy judge on Tuesday extended the period during which the company can offer a plan to reorganise to April 30. The extension will give the company time to complete the auction scheduled for next Tuesday and potentially declare a new owner, according to the Inquirer.

"The auction is central to the company's plan to settle $318 million in debt to its senior lenders, who include Angelo, Gordon & Co., the CIT Syndicated Loan Group, Credit Suisse, and Eaton Vance Management," the paper states in the article. "The company will be sold at the auction, with the proceeds ultimately going toward the debt."

The Associated Press on Wednesday reported housing executive Bruce Toll, a previous investor in Philadelphia Newspapers LLC, and other local investors have made the only bid for the company, according to ABC News.

Author

Leah McBride Mensching

Date

2010-04-21 21:05

U.S. newspapers continue to receive better financial news.

Moody's Investor Services on Friday announced industry earnings are improving, prompting the firm to change its outlook for the U.S. newspaper industry from "negative" to "stable." Moody's said the change reflects expectations that advertising revenue will recover over the next 12 to 18 months, but still expects ad sales to decline 5 to 10 percent this year. Ad revenue should be closer to flat at the end of the year and around a 3 to 2 percent decline in 2011, according to the announcement.

"Newspapers will benefit from the recovery in national advertising as well as broad based improvement in advertising across most categories that is expected to accompany a decline in the unemployment rate and recovery in consumer spending," the report states.

The investment firm also stated it expects furloughs, incentive compensation and other temporary cost-cutting measures will be reversed as revenues improve. The majority of costs that have already been cut, though, will likely remain permanent.

Last week, JP Morgan said U.S. newspaper likely did better than expected during the first quarter of 2010.

Gannett Co. also announced last week that cost-cutting measures and improved ad sales boosted first-quarter earnings, according to The Associated Press.

Author

Leah McBride Mensching

Date

2010-04-19 22:24

Search engine corporation Google has donated over US$ 2 million to the Wikimedia Foundation, a move that may reinforce the "symbiotic relationship" between Google and Wikipedia, according to Business Week. The total donations the free online encyclopaedia raised added up to US$10.6 million for its fiscal year ending in June, a 20 percent spike since the same time the previous year, wrote the Inquirer on Thursday.

There is speculation regarding why Google prefers Wikipedia to other sites, according to Business Week. One proposed explanation is that Google is Wikipedia's advertising partner.

Wikipedia founder Jimmy Wales approximated that Wikipedia receives between 60 to 70 percent of its traffic from Google searches. Pages from the encyclopaedia show up relatively high in searches because Wikipedia has a significant amount of high-quality content that bring about lots of linking and subsequently gets ranked highly thanks to Google's PageRank technology.

Author

Alisa Zykova

Date

2010-02-22 14:14

Bloomberg is rumoured to be focusing more on its core business of financial news, and less on general news, having disbanded its World News team last week, Gawker reported Friday, citing an anonymous source.

"Tom Secunda, one of Mike Bloomberg's earliest associates, and Dan Doctoroff, sent from City Hall to oversee the company, have been campaigning for much of the past year for Bloomberg to concentrate solely on business news and leave the rest to others. None of this stopped Winkler, in interview after interview, to insist [sic] that Bloomberg planned to expand its general news coverage to compete on all levels with Reuters," the Web site reported the tipster as saying.
Meanwhile, the Carolina Business News Initiative reported three Bloomberg News employees have confirmed Gawker's report, stating that Bloomberg is closing its World News section at the end of this year.

The World News team has not been cut, but are expected to be placed in other departments, according to a source.

Author

Leah McBride Mensching

Date

2009-12-29 01:06

Le Groupe Figaro, which owns French daily newspaper Le Figaro, has recorded good results in 2009, Tarif Media reports.

The group's Web sites include news site Lefigaro.fr, culture and entertainment site Evene.fr, sports Web site Sport24.fr and others. These sites posted total revenue up by 11 percent at the end of October, but the print daily will still post a loss this year. This is compensated by the stronger performance of other areas including digital, magazines, and cultural publications.

For more on this story, visit our sister site, editorsweblog.org.

Author

Leah McBride Mensching

Date

2009-12-16 19:59

A recent post on Alan Mutter's Reflections of a Newsosaur blog has rasied concerns over the potentially devasting impact the current financial crisis in the newspaper industry could have on the willingness of students to choose journalism as a profession.

Mutter argues that in a time where employment opportunities are shrinking and those who do manage to secure jobs are paid a pittance, a 'substantial percentage of the next generation of professional journalists' could be wiped out in a movement he dubs 'journicide.'

"Journicide has been under way since newspapers and other mainstream media began losing their formidable revenue-generating juju in 2006. The elimination of full-time professional journalism jobs since then has been so relentless that it has become remarkably, depressingly commonplace," he writes.

For more on this story, visit our sister site, editorsweblog.org.

Author

Leah McBride Mensching

Date

2009-12-14 19:16

The Russian edition of Forbes magazine has launched free access to its Web site, Lenta.ru reported yesterday. The online outlet contains sections such as "Main," "Economy" and "Your Business," which are further divided into sections.

In addition, the site contains video content, blogs, popular publication material, "the best" articles from the archives, links to other publications and a page on which to subscribe to the print edition, according to Lenta.ru. Visitors will be able to access any content from past editions, which have been published since 2004.

As planned, the Web site will only share half of the material with the print edition. The Web address was initially conceived as www.forbes.ru, but was finally launched as www.forbesrussia.ru.

Forbes is currently in the middle of a legal case with Landmark VIP Services, which adopted the former address as its own, Lenta.ru added. On another note, media mogul Rupert Murdoch previously expressed plans to charge for all News Corp. Web sites, the Guardian reported in August.

"Quality journalism is not cheap," said Murdoch. "The digital revolution has opened many new and inexpensive distribution channels but it has not made content free. We intend to charge for all our news Web sites."

Author

Alisa Zykova

Date

2009-11-10 18:39

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