The problem with the newspaper business is simple: A subscription price barely pays for the paper your papers are printed on, and free media are siphoning off the ad revenues newspapers rely on. Warren Buffet thought he could buck the trend, but not even the Oracle of Omaha can fight math.
New York Times is a survivor, but it's bleeding internally. Its stock has floundered in the single digits since March. It hasn't dished out a dividend in three years. Revenue has fallen every year since 2006. And its unclear if its Internet plans can sustain a traditional publisher.
News Corp. has launched The Daily, a newspaper specifically designed for the Apple iPad and other tablet computers. The e-paper's premier edition has attracted kudos for visuals, but mixed reviews on content. The burning question: Will it attract paying readers?
News Corp. more than doubled its earnings for the fiscal second quarter, the company announced Wednesday. Part of the gain comes from a settlement charge a year earlier, which dampened year-ago earnings on a one-time basis. The company also is considering selling MySpace.
Warren Buffett says he will step down as a longtime boardmember of The Washington Post when his term ends in May. But he has no plans to sell Berkshire Hathaway's shares of the company.
Although many media pundits have declared that newspapers are in a death spiral, group buying may -- just may -- have an antidote. This business is a perfect fit for the existing newspaper sales force, which has a deep Rolodex of local customers.
American Media, publisher of National Enquirer, plans to file for bankruptcy protection in the next two weeks, as it seeks to convert its substantial debt to equity shares in the company.
Gannett's third-quarter profit beat the Street, but disappointing revenue plunged shares 8.8%. The company's revenue remained flat, missing analyst forecasts, as its newspaper operations declined 5%.
There's nothing newspaper and magazine publishers crave more right now than a straightforward way to sell subscriptions via Apple's App Store. But Apple's plan to let them do just that may not do much to help the beleaguered industry.
The University of Colorado at Boulder is planning dramatic changes for its journalism program, and J-schools across the country are facing a similar dilemma: How to train students to compete in an industry in constant upheaval?
Carlos Slim is one of the New York Times Co.'s biggest shareholders, but most of his holdings are in the form of warrants received after loaning the media company $250 million. The Mexican billionaire's growing stake has raised concerns about whether he would try to influence the fabled journalism brand in any way.
