Articles about "Tribune Co."


Tribune wants to buy more newspapers

Crain’s Chicago Business

Tribune Publishing CEO Jack Griffin wants to buy “smaller newspapers in or near his existing markets,” Lynne Marek reports.

“We think there are more of these opportunities around the country that are geographically adjacent to where we run big papers and big brands, and that over time we can achieve similar kinds of consolidation and acquisition opportunities that are going to add meaningfully to our footprint and our revenue and our profit,” Griffin told Marek.

In the past year, Tribune’s Baltimore Sun Media Group has purchased Baltimore City Paper and two smaller Maryland papers, The Capital in Annapolis and the Carroll County Times.

Griffin also told Marek that cutting costs to adapt to lower revenue is “an absolute requirement of the business.” Tribune Publishing’s spinoff from Tribune Co.… Read more

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Earns Gannett

Circulation revenue rises at Gannett’s local papers

Good 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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Rupert Murdoch bids on Time Warner

Good morning. Here are 10 media stories.… Read more

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Polk Awards

Did the government throw shade on latest Greenwald scoop?

Good morning. Here are 10 media stories. Also, from Sam Kirkland, your digital morning stuff, and from Kristen Hare, a look at journalism outside the U.S.

  1. Did the government try to stink up Glenn Greenwald’s latest story? The American-Arab Anti-Discrimination Committee’s national president, Samer Khalaf, says “It wasn’t that they were saying it was false. They were saying they can’t respond to a story that wasn’t out yet.” (The Washington Post) | The Intercept “began hearing about Justice Department officials attempting to discredit our story long before that [ADC] meeting took place.” (The Intercept) | Related: Bart Gellman answers objections to his latest NSA story, which he wrote with Julie Tate and Ashkan Soltani. (The Washington Post)
  2. Remembering John Seigenthaler, who died Friday: The Tennessean’s package | Former Poynter President Karen Dunlap remembers Seigenthaler.
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Rupert Murdoch

News Corp. rumored to be putting together a new bid for Tribune newspapers

Rumor has it that News Corp — with a $2.5 billion cash kitty for acquisitions — may be mounting a new bid for the Los Angeles Times, the Chicago Tribune and the six other Tribune newspapers.

Rupert Murdoch and his company were first reported interested in the acquisition (in a story in the L.A. Times and elsewhere) when the papers were being shopped in late 2012 and early 2013.

No deal was struck, and last July Tribune announced that it would instead spin off the papers into a new publicly-traded company, Tribune Publishing. Tribune Publishing has recently hired a CEO and other staff, and the split is now scheduled to happen as soon as Aug. 4, but at least within the next several months.

I would not typically report a publishing rumor.… Read more

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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.… Read more

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Tribune buys out McClatchy’s stake in MCT newswire

Tribune Publishing “will take full ownership” of McClatchy Tribune Information Services” and its operations will move to Chicago, McClatchy vice president for news and Washington editor Anders Gyllenhaal tells staffers in a memo. “MCT will consolidate editorial and business staffs in Chicago and merge with the Tribune Content Agency, creating a single business out of the two related operations,” he writes.

“A portion of the jobs based in Washington will be part of the ongoing wire service or remain with the bureau. But a majority of the Washington positions will be phased out over the course of the summer as the move to Chicago is complete,” Gyllenhaal writes.

In a press release, Tribune said “MCT products and services will become part of the offerings of Tribune Content Agency.”

McClatchy’s D.C.… Read more

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Henry Waxman asks Tribune CEO to reconsider newspaper spinoff

U.S. Rep. Henry Waxman has sent a letter to Tribune Co. CEO Peter Liguori saying interviews with experts “raised serious concerns about the future of the Los Angeles Times” should the company go ahead with its plan to spin off its newspaper division.

Poynter’s Rick Edmonds is among the experts Waxman consulted.

Waxman is concerned about Tribune Co.’s plans to saddle the newspapers with debt and keep their real estate, but he also says the company’s plan to consolidate some newsgathering functions “raises concerns about the ability of the papers to continue putting resources into local coverage.” The plans, he says, “will place the long-term viability of the Los Angeles Times and other Tribune papers at risk.”

In a statement to Poynter, Los Angeles Times Publisher Eddy Hartenstein said that, “From our ongoing discussions, Congressman Waxman should by now be fully aware that the structure of the spin-off of Tribune Publishing is based on sound financial principles and a deep commitment to providing Tribune’s newspapers with a strong, long-term future.” He continues:

The assertions of the academics consulted by the Congressman provide no new insight and in many cases are simply wrong.

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Classified Ventures’ assets could be worth more than all Tribune’s papers

Crain’s Chicago Business

The sale of Apartments.com and the planned sale of Cars.com “shows how upside-down the media business has become,” Lynne Marek writes about a conversation with the investment banker Chuck DelGrande.

“The joint venture’s assets could be worth more than the value of all eight newspapers owned by Tribune,” Marek writes. “The highest price floated for Tribune’s newspaper group, which Tribune plans to spin off as Tribune Publishing Co. later this year, topped out at about $1 billion when it was on the sales block last year.”

Tribune’s 28 percent stake in Classified Ventures is worth about $700 million, William Launder reported in The Wall Street Journal last year. Apartments.com sold for $585 million earlier this month, and some of that cash went to newspaper companies like McClatchy, Gannett and A.H.… Read more

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Tribune builds robot to read the news

Advertising Age

Robots that write stories are so two days ago. Newsbeat, a new app from the Tribune Company, “uses voice-over artists and a robot to read news stories,” Michael Learmonth reports. Here’s what it sounds like reading the headline and lead of a Los Angeles Times story:

“We had been looking at our key asset, which is news and what we could do with that asset,” Tribune Digital Ventures honcho Shashi Seth tells Learmonth. Voice artists “read the top-100 or so stories,” Learmonth writes.

The rest are read by a Siri-like text-to-speech technology, which reads the top couple paragraphs of each story. The system has some intelligence built in to know that in a sports story, for example, a dash means “to,” and to read “California” where the dateline says “Calif.”

Newsbeat’s business model is radio ads.… Read more

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