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Five of the largest companies in the print business are testing the digital waters together. Rather than yield their content to alien formats, Time Inc. (TWX), News Corp. (NWS), Conde Nast, Hearst and Meredith Corp. have announced plans to develop a digital content format of their own. This new product would compete with the newly released Nook from Barnes & Noble (BKS), as well as one from Sony (SNE) and the industry-leading Kindle from Amazon (AMZN). The new e-reader content will come in color and in a format that would work across several devices.

The five media companies are equal partners in this joint venture, which will allow publishers to set their own prices for their content -- an obvious response to what they see as unfavorable revenue share deals offered by Amazon earlier this year. Rupert Murdoch has been particularly vocal on this issue, particularly about the fact that News Corp. only receives a little more than a third of the $14.99 a month it costs to subscribe to the Wall Street Journal on a Kindle. He says of the device that it's "a fantastic invention for reading books. It is not much of an experience for newspapers."


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Time, News Corp, Hearst, and others to compete with Kindle originally appeared on BloggingStocks on Wed, 09 Dec 2009 09:30:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>amazonAmazon Kindleamazon.combarnes and nobleBarnes and Noble Nookconde nastCondeNaste-readershearstHearstCorpinthenewskindleMeredith Corp.news corpnookprint mediarupert murdochsmartphonessneSONYtablet computersTimeWarnertwxWed, 09 Dec 2009 09:30:00 EST<![CDATA[Country Home to cease operations as Meredith slashes jobs]]>http://www.bloggingstocks.com/2009/01/09/country-home-to-cease-operations-as-meredith-slashes-jobs/http://www.bloggingstocks.com/2009/01/09/country-home-to-cease-operations-as-meredith-slashes-jobs/http://www.bloggingstocks.com/2009/01/09/country-home-to-cease-operations-as-meredith-slashes-jobs/#commentsFiled under: ,

Meredith Corp. (NYSE: MDP) announced yesterday that take a $16 million one-time charge in the second quarter of 2009. According to the press release, "The charge includes the cost of a companywide workforce reduction of approximately 250 employees; the closing of Country Home magazine, effective with the March 2009 issue; and relocating the creative functions of the ReadyMade brand and Parents.com to Des Moines."

The company cited the recession's impact on advertising revenue as the driving force behind the cutbacks. The end of Country Home isn't exactly shocking. I subscribed to the magazine via a special online offer where you could get one year for free -- We wrote it up on WalletPop back in May. The home decor magazine market seems to be extremely crowded and Country Home had very little to distinguish itself from a dozen or so similar publications.

The cutbacks were announced in the middle of the trading day yesterday and didn't seem to elicit any particular reaction from traders.

The cyclical decline in advertising revenue and the secular move toward free online content have not been kind to magazines. US News & World Report and Men's Vogue have cut back on the number of issues. It seems likely that more magazines will follow in their footsteps as advertisers and consumers cut back.

Country Home to cease operations as Meredith slashes jobs originally appeared on BloggingStocks on Fri, 09 Jan 2009 14:51:00 EST. Please see our terms for use of feeds.

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