Continue reading New York Times Offers Bleak Q3 Guidance

New York Times Offers Bleak Q3 Guidance originally appeared on BloggingStocks on Wed, 22 Sep 2010 12:10:00 EST. Please see our terms for use of feeds.

Google (GOOG) has been the bain of the publishing industry -- both printed and electronic -- for years. Its Google Books project scans books by the hundreds in order to make the content accessible online and for free. Have a newspaper website? Google probably scans it daily to aggregate pieces of your content at Google News (again, for free). Google CEO Eric Schmidt, though, thinks that newspapers can follow the Google model and make money using their content online, and not hide everything behind a pay wall.

Continue reading Google CEO Schmidt: We See Profits in the Newspaper Industry Again

Google CEO Schmidt: We See Profits in the Newspaper Industry Again originally appeared on BloggingStocks on Mon, 12 Apr 2010 15:15:00 EST. Please see our terms for use of feeds.

Continue reading Regal Cinemas Dips on Ticket Pricing Concerns

Regal Cinemas Dips on Ticket Pricing Concerns originally appeared on BloggingStocks on Mon, 29 Mar 2010 16:30:00 EST. Please see our terms for use of feeds.

Continue reading The Internet: Enemy of Newspapers, But the Friend of T.V. (So Far)

The Internet: Enemy of Newspapers, But the Friend of T.V. (So Far) originally appeared on BloggingStocks on Wed, 24 Feb 2010 18:00:00 EST. Please see our terms for use of feeds.

The New York Times (NYT) reports today that newspapers dominate the news creation business.

This is an interesting twist -- instead of touting readers or paid circulation or ads or total revenue, it's talking about production. It's almost as if Ford (F) were to announce: "We make more cars than anyone else." Who the hell cares if they sell any, right? What's important is production, not sales! For the Times, and print media in general, it feels like yet another attempt to justify its existence and "prove" that it is more valuable than the more cost-effective and nimble online outlets.

Continue reading Most News Outlets Are Repetitive, New York Times Repeats

Most News Outlets Are Repetitive, New York Times Repeats originally appeared on BloggingStocks on Mon, 11 Jan 2010 12:30:00 EST. Please see our terms for use of feeds.

Continue reading Heartland Publications Files for Bankruptcy

Heartland Publications Files for Bankruptcy originally appeared on BloggingStocks on Tue, 22 Dec 2009 12:40:00 EST. Please see our terms for use of feeds.

James Altucher is a financial journalist for The Wall Street Journal and founder of Stockpickr.com. His articles cover every angle of the market; he also stars in feature videos with other financial luminaries. He is the author of Trade Like a Hedge Fund, Trade Like Warren Buffett, SuperCa$h, and The Forever Portfolio.

He has taken a controversial path lately with numerous articles in the New York Post and Huffington Post. Some articles include: "Global Warming Is a Myth," "Should Insider Trading Be Made Legal?" "School of Hard Cash," "The Internet Is Dead (as an Investment)," and "5 Myths the Recession Taught Us."

Rumors of a new addition to the James Altucher library have entered the blogosphere, so I met with James to discuss a possible new book and the response from his recent aggressive views on finance and the stock market.

Continue reading You can profit from James Altucher's insanity

You can profit from James Altucher's insanity originally appeared on BloggingStocks on Sat, 12 Dec 2009 16:10:00 EST. Please see our terms for use of feeds.

Like most newspapers, The Unification Church-controlled Washington Times is experiencing significant financial problems.

The New York Times reports that the far-right wing newspaper will lay off at least 40% of its 370 employees, citing a memo sent to workers. That hardly seems appropriate for a newspaper that was founded by a guy (Syun Myung Moon) believed by himself and his followers to be the second coming of Jesus Christ.

Continue reading Washington Times set to lay off at least 40% of its workers

Washington Times set to lay off at least 40% of its workers originally appeared on BloggingStocks on Thu, 03 Dec 2009 14:20:00 EST. Please see our terms for use of feeds.

Free content's getting locked down. Google (GOOG), which has been criticized by the newspaper industry for sending them traffic making it easy for readers to find the stories they want without forcing them to make a purchase, is starting to play ball with the print industry.

What's the harm? The way things are going, Google will only have to be nice for a little while. Then, this latest defensive measure by the newspaper industry will have run its course, and Google will be free to do what it wants.

Continue reading Google gives newspapers what they want

Google gives newspapers what they want originally appeared on BloggingStocks on Wed, 02 Dec 2009 11:00:00 EST. Please see our terms for use of feeds.

As print media continues its prolonged death throes, The Washington Post Company (WPO) announced late Tuesday that it will shut down its U.S. bureaus in New York, Los Angeles, and Chicago. Six journalists will be affected by the closures, and all will be offered jobs in Washington. Three news aides in the bureaus will be offered severance.

As a result of the move, the Post will no longer have any journalists on staff outside its home base of Washington, D.C. In a memo to staffers, Executive Editor Marcus Brauchli explained that the newspaper must focus its journalistic efforts on its own turf.

Continue reading Washington Post closes the last of its U.S. bureaus

Washington Post closes the last of its U.S. bureaus originally appeared on BloggingStocks on Wed, 25 Nov 2009 15:30:00 EST. Please see our terms for use of feeds.

Continue reading Valeant Pharma (VRX) falls on bearish Barron's coverage

Valeant Pharma (VRX) falls on bearish Barron's coverage originally appeared on BloggingStocks on Mon, 23 Nov 2009 13:20:00 EST. Please see our terms for use of feeds.

We've put three quarters behind us in 2009, and the most recent one was merely another miserable step downward for the beleaguered newspaper industry. Total ad revenue plummeted in the third quarter to $6.4 billion for the print jockeys, a decline of 28%. This info from the Newspaper Association of America drives home the notion that conditions will only worsen for the newspaper industry. So, if you're hoping those shares of New York Times Company (NYT), Gannett (GCI) and Washington Post Company (WPO), holding your breath will leave you little more than dizzy.

Of the total advertising revenue generated in the third quarter of 2009, $5.8 million came from print, the lowest quarterly amount this year. The $623 million in online advertising sold by America's newspapers was also 2009's worst. Both are down substantially from the same quarter in 2008, when the newspapers posted print ad revenue of $8.2 million and online ad revenue of $750 million, according to NAA data. At this time last year, we lamented year-over-year declines approaching 20%. Now, we have the same feelings as ad revenue drops approach 30%.

Continue reading Newspaper ad revenue of 28%, 8 quarters of double-digit drops

Newspaper ad revenue of 28%, 8 quarters of double-digit drops originally appeared on BloggingStocks on Fri, 20 Nov 2009 16:40:00 EST. Please see our terms for use of feeds.

The Washington Post Company (NYSE: WPO) published data for the third quarter earlier today. Can't say I was mightily impressed by the numbers. Sure, there was a profit increase, but the top line wasn't exciting, and the newspaper division, as you might have expected, experienced a sharp decline in sales.

Net revenues rose 2%. Earnings per share came in at $1.81. That was sharply higher than the $1.08 per share recorded in the comparable period. Yet, I think you have to be careful in terms of reading too much positive spin into the growth rate.

Continue reading The Washington Post Company increases income, but shares sell off

The Washington Post Company increases income, but shares sell off originally appeared on BloggingStocks on Fri, 30 Oct 2009 16:40:00 EST. Please see our terms for use of feeds.

The folks in the news business are probably growing to hate Mondays. Gannett's (NYSE: GCI) profits are off by more than 50%, and the New York Times announced that it's chopping 100 jobs from the newsroom, along with an unspecified number elsewhere in the newspaper. Like Gannett, the New York Times cites declines in ad revenue as the reason for the decision. The company is hoping that employees will take voluntary buyouts where offered, but it is prepared to conduct a round of layoffs if necessary.

The newspaper, which is the flagship property of the New York Times Company (NYSE: NYT), cut 100 newsroom positions last year, mostly through voluntary buyouts, before a "relatively small" round of layoffs. This year's 100-job cut is approximately 8% of the newsroom, but the paper will still have the largest in the United States. Approximately 1,150 reporters and editors will remain. Already, 100 jobs have been slashed on the business side, leaving it now staffed at 1,850.

Continue reading New York Times to cut 100 newsroom positions

New York Times to cut 100 newsroom positions originally appeared on BloggingStocks on Tue, 20 Oct 2009 10:40:00 EST. Please see our terms for use of feeds.

Gannett (NYSE: GCI) lost more than half its third-quarter profits year-over-year, as the newspaper industry shows yet another sign of decline. A substantial drop in ad revenue was the primary reason for the plunge.

The newspaper giant was able to stay in the black because of aggressive cost cutting, a move that can work for only so long. For now, it's the most popular option available to the beleaguered industry, as evidenced by a New York Times (NYSE: NYT) announcement that it would slash another 100 positions from the newsroom, and more positions elsewhere.

Continue reading Gannett profit falls by more than half

Gannett profit falls by more than half originally appeared on BloggingStocks on Tue, 20 Oct 2009 09:00:00 EST. Please see our terms for use of feeds.

The next step remains uncertain for what will go down in history as among the worst newspaper acquisitions.

On Friday, the deadline for submitting bids for the Boston Globe, which is owned by The New York Times Company (NYSE: NYT), passed. Two major contenders were expected to write figures on slips of paper and slide them across the proverbial desk: Platinum Equity, a Beverly Hills-based private equity firm and owner of the San Diego Union-Tribune, and Stephen E. Taylor, whose family sold the Globe in 1993.

Continue reading Boston Globe's future remains uncertain

Boston Globe's future remains uncertain originally appeared on BloggingStocks on Sun, 11 Oct 2009 15:10:00 EST. Please see our terms for use of feeds.

Assured Guaranty (NYSE: AGO - option chain) shares rose Monday after the stock received positive coverage in Barron's over the weekend. An analyst wrote in the magazine that shares of the stock could appreciate quickly since it is the only bond insurer among its competitors that still has the credit rating and financial strength to write insurance on new issues of municipal bonds and bond securitizations. Barron's also said that Assured Guaranty could have smaller-than-expected losses from claims. If you think that the stock won't fall by too much in the coming months, then now could be a good time to look at a bullish hedged trade on AGO.

AGO opened at $18.70. In morning trading, the stock hit a low of $18.70 and a high of $19.63. As of 11:05, AGO was trading at $19.53 up 1.38 (7.6%). The chart for AGO looks neutral and S&P gives AGO a neutral 3 STARS (out of 5) hold ranking.

Continue reading Barron's: Assured Guaranty (AGO) could thrive

Barron's: Assured Guaranty (AGO) could thrive originally appeared on BloggingStocks on Mon, 05 Oct 2009 12:20:00 EST. Please see our terms for use of feeds.

We've heard a lot about the auto industry and how bad things are. Yet right under our noses, U.S. media advertising lost $10 billion in the first half of this year.

We all know that newspapers are hurting badly. But it's not only newspapers, the losses fall across the advertising spectrum. Let's look at some numbers:

• Nielsen reports a 15.4% decline in U.S. advertising revenues. This is the largest drop since this tally began.

Continue reading U.S. media loses $10 billion in advertising

U.S. media loses $10 billion in advertising originally appeared on BloggingStocks on Wed, 02 Sep 2009 11:00:00 EST. Please see our terms for use of feeds.

Vibe Media Group, publisher of hip-hop magazine Vibe, shut down in June, as the poor economy led to declining advertising revenue. Vibe has since been acquired for an undisclosed price by InterMedia Partners, a private equity firm.

InterMedia said it plans to resume publication of Vibe in November as a quarterly magazine. The operations of Vibe are to be integrated with those of Uptown, another urban lifestyle magazine InterMedia owns. Publishing veteran Jermaine Hall has been named as the new editor-in-chief of Vibe, and the new business will be known as the Vibe Lifestyle Network.

Continue reading Vibe and Creative Loafing: Private equity moves in on print publishing

Vibe and Creative Loafing: Private equity moves in on print publishing originally appeared on BloggingStocks on Tue, 25 Aug 2009 16:40:00 EST. Please see our terms for use of feeds.

Continue reading Boston Globe remains in limbo as auction is delayed

Boston Globe remains in limbo as auction is delayed originally appeared on BloggingStocks on Wed, 08 Jul 2009 10:30:00 EST. Please see our terms for use of feeds.