Articles about "Earnings reports"


Fox News crushed competitors on election night

Good morning. Here are 10 media stories.

  1. Fox News beat broadcast networks on election night

    It also crushed in 2010, the last Republican wave. (NYT) | "Fox News is normally the dominant player in cable news, but its high ratings on Tuesday may have been partly influenced by the nature of the 2014 electorate." (Politico) | Related: "Think of the GOP’s Senate takeover as a full-employment act for Washington reporters," Jack Shafer writes. (Reuters)

  2. Earnings season update

    News Corp saw overall revenues rise, but ad revenue at its print newspapers fell 7 percent over the same period the year before. Strong results at its book division (including recently acquired Harlequin) and other businesses drove an overall growth in revenue at the spun-off company. (Capital) | Torstar, which sold Harlequin to News Corp, saw a 7 percent drop in revenue over all.

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Tribune Publishing’s first earnings report: ‘We have much work to do’

With downbeat third quarter results already recorded by McClatchy and the New York Times Co., Tribune Publishing followed suit today in its first quarterly earnings report and conference call as a public company.

Tribune Publishing operated at roughly break even, recording a tiny net loss (less than a tenth of a percent) on revenues of $404 million. Advertising revenues were down 9.5 percent compared to the same quarter in 2013 when the company was a division of Tribune.

National advertising was a particular culprit, down 17.1 percent for the quarter and 12 percent year to date. And with papers in Los Angeles and Chicago, national is a bigger slice of the total for Tribune Publishing than at Gannett’s 80 community papers or McClatchy’s 29.

CEO Jack Griffin, in his initial conference call with analysts, noted weak movie advertising in Los Angeles and loss of a leading grocery chain in Chicago.  Read more

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NYT added 44,000 digital subscribers in the third quarter

The New York Times Company

The New York Times Company added 44,000 subscribers to its digital-only products in the third quarter of 2014, “an increase of more than 20 percent compared with the end of the third quarter of 2013,” it says in its third-quarter earnings report, released Thursday.

The company says it now has 875,000 subscribers to digital-only products. It added 32,000 subscribers in the second quarter.

Revenue at the company was a little better than flat: up about 1 percent overall, with circulation revenue up 1.6 percent, advertising revenue down .4 percent and other revenue — including events — up about 4 percent.

Print ad revenue was down about 5 percent, and digital ad revenue was up 16.5 percent. Operating costs rose 9 percent, “mainly due to severance expense associated with previously disclosed workforce reductions as well as higher compensation and benefits expenses primarily related to the Company’s strategic initiatives,” the release says. Read more

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News Corp’s revenue falls

News Corp

Revenue at News Corp’s news and information division fell 6 percent in the last quarter of the corporation’s fiscal year, and 9 percent in the full year, when compared with the respective same periods the year before.

“The majority of the revenue decline reflects lower advertising revenues at the News and Information Services segment, the sale of LMG and foreign currency fluctuations, partially offset by strong performance in the Book Publishing and Digital Real Estate Services segments,” the company says in an earnings release. “LMG” refers to Dow Jones’ Local Media Group, which the company sold last September.

Overall revenue was down 3 percent in the fourth quarter and 4 percent for the year. Circulation and subscription revenues were down 5 percent in the year, the report says. Advertising revenue in the news division, which includes Dow Jones, The Wall Street Journal and the New York Post, was down 10 percent in the year. Read more

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Tennessean-AP

Tennessean will use data, not ‘the journalist’s gut,’ to make decisions

mediawiremorningGood morning. Here are 10 (ha ha, OK, you got me, it’s more than 10) media stories.

  1. 21st Century Fox won’t pursue Time Warner: Rupert Murdoch sent a honcho-to-honcho email to Jeffrey L. Bewkes Tuesday afternoon, notifying the Time Warner chief he was withdrawing his previous offer. (NYT) | “Arguably, shareholders had scuttled” the deal already, Brian Stelter writes: “21st Century Fox shares had dropped nearly 10% since the initial bid for Time Warner earlier this summer.” (CNN) | “Long media nerd earnings day. Was going to be fun. But now… [sad trombone]” (@pkafka) | “One large Fox investor said the market is worried about Murdoch’s discipline when it comes to deal-making,” Cristina Alesci reported Tuesday morning. (CNN) | Time Warner revenue was up 3 percent in the second quarter of 2014 over the same period the year before. HBO’s revenue was up 17 percent.
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Earns Gannett

Gannett spins off, Murdoch and Time Warner square off

mediawiremorningGood morning. Here are 10 media stories.

  1. Gannett will split publishing, broadcast assets: Its acquistion of broadcast companies and the 73 percent of Cars.com it didn’t own make this “the right time for a separation,” CEO Gracia Martore says in a statement. Robert J. Dickey will run the publishing company, which be called Gannett and will hold USA Today and 81 dailies, plus the U.K.’s Newsquest. (Poynter) | Just yesterday, Ken Doctor asked whether Gannett would be the next big media company to split its assets. (Nieman) | Rick Edmonds explained the rash of splits last week. Newspaper groups can “theoretically do better with management whose exclusive focus is on the particular challenges of that industry,” he wrote. (Poynter)
  2. Let us now observe Rupert Murdoch’s mating dance: Time Warner’s “unyielding stance has at least some analysts wondering if an acquisition really is inevitable,” Jonathan Mahler writes.
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New York Times Slim

NYT acknowledges Carol Vogel lifted from Wikipedia

mediawiremorningGood morning. 10-ish, anyone?

  1. NYT acknowledges Carol Vogel lifted from Wikipedia: Part of a July 25 column “used specific language and details from a Wikipedia article without attribution; it should not have been published in that form,” a grisly editor’s note reads. (NYT) | Times spokesperson Eileen Murphy told Ravi Somaiya “editors have dealt with Carol on the issue.” (NYT) | “It seems to me that there can be little dispute about the claim,” Times Public Editor Margaret Sullivan wrote Wednesday. “Anyone can see the similarity.” (NYT)
  2. E.W. Scripps Co. and Journal Communications will combine broadcast properties, spin off newspapers: The companies “are so similar and share the deep commitment to public service through enterprise journalism,” Scripps Chairman Richard A. Boehne says. Among the newspapers in the new company, named Journal Media Group: The Milwaukee Journal Sentinel and The (Memphis, Tennessee) Commercial Appeal (Milwaukee Journal Sentinel) | “The complicated transaction is the latest move by media companies to focus on either television or print operations, with nearly all choosing to leave behind the slower-growing print business.” (NYT) | Al Tompkins: Scripps “is well positioned to cash in on mid-term political spending with stations in hotly contested political grounds of Ohio and Florida.” (Poynter) | “This deal looks much better for print spinoff than the Tribune deal.
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Ad revenue down at McClatchy

The McClatchy Co.

Advertising revenue was down 7 percent in the second quarter of 2014 at the McClatchy Co., which released earnings Thursday. “Audience” revenue, which is what McClatchy now calls circulation revenue, was up about 5 percent. Excluding revenue from McClatchy’s change to fee-for-service circulation delivery contracts at some newspapers, circulation revenue was down about 3 percent.

“Still, we continued to see growth in direct marketing and digital advertising revenues and together these two sources accounted for 43% of our total advertising revenue in the quarter,” McClatchy CEO Pat Talamantes said in a statement.

McClatchy’s results include $146 million it made by selling its share of Apartments.com and, “to a lesser extent,” its share in in McClatchy‑Tribune Information Services. Tribune bought out McClatchy’s share in MCT in May. McClatchy also completed the sale of the Anchorage Daily News, which recently changed its name.

For the first six months of the year, advertising revenue was down about 7 percent over last year. Read more

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Earns Gannett

Circulation revenue rises at Gannett’s local papers

mediawiremorningGood morning. Here are 10 (OK, perhaps slightly more than 10) media stories.

  1. Gannett had a good second quarter: Broadcast revenue was “almost 88 percent higher in the quarter compared to the second quarter last year.” Publishing advertising revenue fell about 5 percent; circulation was roughly flat, and “At local domestic publishing sites, home delivery circulation revenue was up in the quarter due, in part, to strategic pricing actions associated with enhanced content.” (Gannett)
  2. Washington Post fights the “wonk wars”: The Washington Post’s new “Storyline” project is “dedicated to the power of stories to help us understand complicated, critical things,” Editor Jim Tankersley writes. (The Washington Post) | Michael Calderone takes a look: “It’s unlikely The Post would’ve launched a project like Storyline a few years ago.” (HuffPost) | Tankersley writes that as a college student he was inspired by Richard Read‘s 1998 series about french fries: “Those stories brought the crisis home in a way no textbook or straight news piece could, because at each step, they showed how global trends touched people’s lives and livelihoods.” (The Oregonian)
  3. Why corrupt politicians should avoid Vermont: Vermont has the best-covered legislature in the country, and California has the worst, Pew finds.
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tribune_small_AP

At Tribune, broadcasting up and publishing down

Tribune Co.

Broadcasting revenues were up 67 percent and publishing revenues were down 3 percent in the first quarter of 2014, the Tribune Co. announced in an earnings report Tuesday. Both figures are in comparison to the same period the year before. Tribune completed its purchase of Local TV Holdings, which owned 39 stations, late last year.

The decline in publishing revenues was “primarily attributable to declines in advertising revenue of $19.3 million and declines in revenues from commercial printing and delivery services of $4.1 million,” the report said. In a discussion of results, Tribune also said it had “identified reductions in its staffing levels of approximately 65″ positions in the first quarter and recorded severance expenses “primarily at publishing” operations.

Tribune plans to spin off its publishing division this year. Tribune President and CEO Peter Liguori said the newspapers “continued to deliver very good results in a challenging environment.” Tribune Co. Read more

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