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ARCHIVES: Companies

September 1, 2010

Over 6,000 journalists and media workers have lost jobs since downturn

Since the start of the economic crisis, up to 6000 journalists and media workers in Romania have lost their jobs, journalists are being forced to renounce their contracts in favour of royalty payments, and the main journalists union in the country is fighting over 50 cases against illegal and indiscriminate dismissals. "Romanian journalism is under siege from the country's economic woes and employers' greed," said European Federation of Journalists (EFJ) General Secretary Aidan White. "The... MORE
September 1, 2010

Vineet Jain elected PTI chairman

Vineet Jain, managing director of the Times of India group, has been elected chairman of the board of directors of the Press Trust of India (PTI). MP Veerendrakumar, chairman and managing director of Mathrubhumi Group, was elected vice-chairman following the 62nd Annual General Meeting of the PTI’s shareholders in New Delhi on Monday. Jain, who was vice-chairman of the board, succeeds Vijay Kumar Chopra, editor of Punjab Kesari group. Besides playing a key role in the growth of Times of India... MORE
August 16, 2010

Dispute over management of Tamil publication group Kumudum settled

Well known Tamil magazine group Kumudam is to be split into two. N Ram, Editor-in-Chief of The Hindu , who acted as a mediator to settle the dispute over the management of the publication group between Dr A Jawahar Palaniappan and its Managing Director P Varadarajan, said the two sides have reached an "amicable settlement." The separation process would now go ahead on the basis of independent professional assessment and result in a final settlement, Ram said in a statement. Palaniappan is the... MORE
August 6, 2010

US media companies rebound on ad recovery

Media conglomerates News Corp and Time Warner Inc posted improved quarterly results on Wednesday, riding a recovery in advertising sales and several quarters of cost cuts, says a Reuters report. The results, which came a day after CBS Corp's strong quarterly report, sent media shares higher even as analysts pointed to an uncertain outlook due to the possibility of a dip in the global economy. "The general theme we've been seeing at media companies is strong advertising demand at all various... MORE
August 4, 2010

Murdoch to sell off 'Fiji Times', coup leader remains recalcitrant

Fiji’s main daily newspaper, the Fiji Times , is up for sale following the military regime’s declaration of a media decree requiring all media outlets be owned 90 per cent by locals. The Times is wholly owned by Rupert Murdoch’s News Limited. All Fiji media have been under martial law censorship for the last year but the Times has incurred the wrath of coup leader Voreqe Bainimarama, in part by refusing to use his self-declared title of prime minister. The Fiji Times on July 30 announced... MORE
August 4, 2010

Independent News sells off its stake in Jagran Prakashan

Irish publisher Independent News & Media (INM)has sold its remaining 5.7 per cent stake in Indian publisher Jagran Prakashan Limited (JPL). The stake netted INM €32 million (£26.5 million), which it said will go towards reducing bank debt. INM had already sold most of its stake in the Indian media group, which it first acquired in 2005, over the course of the past year to pay off debt, accptdomg to the Guardian . It had acquired 26 per cent of Jagran Prakashan Ltd for €28.5m and reduced it... MORE
August 2, 2010

Newspaper publisher McClatchy's revenue drops 6.4%

US newspaper publisher McClatchy Co has reported that second-quarter revenue fell 6.4 per cent, as advertising and circulation continue to suffer. The revenue decline, however, was an improvement from steep drops during the worst of the recession. It's also the latest sign that the weak advertising market that has hurt most media companies is slowly reviving. Other newspaper publishers, including Gannett and The New York Times, also have reported recently that the ad erosion is easing... MORE
July 29, 2010

ABC board approves US newspaper rule changes, to merge print and digital reach

The board of the Audit Bureau of Circulations approved a series of changes to US newspaper rules to coincide with other broad modifications set to take effect in October. The new policies include fresh standards for newspaper subscriptions that include digital editions while addressing the growing market for paid content across multiple platforms, such as e-readers and mobile apps. The board's aim is to establish a foundation for the future as more newspapers move to bundled print/digital... MORE
July 29, 2010

Gannett closes down 115-year-old British newspaper

The editor of the Hounslow and Brentford Times has confirmed the closure of the 115 year-old UK newspaper. The title, an edition of the Richmond and Twickenham Times , published its last issue on July 23 along with a second edition of the weekly paper, The Chiswick Times . The editor, Helen Barnes, wrote on the newspaper's website, "After a lengthy review a decision has reluctantly been taken to cease publication of these editions of our weekly paper. But you will still be able to keep up to... MORE
July 29, 2010

Rival Australian newspaper publishers join hands to promote advertising

Rival Australian newspaper publishers Fairfax Media and APN News & Media have agreed on an alliance combining Fairfax’s online classified advertising with the print classified sections of 90 regional daily and local newspapers published by APN in Queensland and Northern New South Wales. The deal, reported, will allow Fairfax to promote its classified websites –, and – to advertisers in regional areas where the company does not publish a... MORE