McClatchy Co has reached a deal to buy Knight Ridder Inc, the second-largest newspaper publisher in the United States, for about $4.5 billion in cash and stock, the companies announced Monday. McClatchy will also assume about $2 billion in Knight Ridder's debt, the Associated Press (AP) reported. The catch is McClatchy plans to sell 12 of Knight Ridder's 32 newspapers. SOLD OFF: A general view of...
The Indian media and entertainment industry will grow at 19 per cent compound annual growth rate (CAGR) to reach Rs 837.4 billion by 2010 from Rs 353 billion at present, a study has said. Low media penetration in lower socio-economic classes and low ad spends are factors that would drive growth for the industry. WE THE MEDIA: NDTV's popular We the People programme. Subscription revenues are...
NEW HAVEN, Conn. --Three central Connecticut newspapers will switch to a tabloid format in May as their parent company, Journal Register Co., tries to boost advertising revenue and reverse circulation losses. The Herald of New Britain, The Bristol Press and The Middletown Press announced the change in Wednesday's newspapers, saying the new editions will be easier to read and more attractive to...
A new free daily newspaper launched in Cardiff on Tuesday could undermine existing papers which have already seen their readership drop, it is claimed. Metro, which is available in 14 other cities, contains UK and overseas news aimed at "young, time-starved" readers. Media expert Prof Kevin Williams said the launch could "undermine the viability of the existing papers." The company has played down...
The Washington Post Co plans to cut 80 positions – about 9 per cent of the jobs – from the Washington Post's editorial staff as it grapples with a steady decline in circulation, Reuters has reported. The cuts, which are expected to occur within a year, would come through buyouts and attrition, said Rick Weiss, co-chairman of the Washington Post unit of the Washington-Baltimore Newspaper Guild...
NEW YORK: The International Herald Tribune is in the process of eliminating 36 positions in its Paris offices in a number of departments including production, IT, and circulation. The editorial department will not be affected. In a written statement obtained by E&P, executives at the IHT have approached the company's "Work Council" with a reorganization plan in compliance with French laws. "We are...
BRUSSELS (Reuters) - Microsoft Corp said Friday it had asked U.S. Federal courts to force IBM, Sun Microsystems Inc, Oracle Corp and Novell Inc to give it documents in its battle against the European Commission. Microsoft is fighting a fine of up to 2 million ($2.4 million) a day for failing to carry out sanctions that the Commission, the European Union's executive arm, imposed on it in 2004 for...
Times Online has introduced a global edition feature to its home page to push its columnists and opinion pieces to a growing international audience. A navigation bar across the home page allows the user to select either the UK perspective or global edition of the site's news and, from today, the global edition will automatically appear to readers using non-English language systems. Online...
THE number of media owners serving the Sydney market could be more than halved under an expected plan to change the cross media rules that is about to be made public. New ownership data from the Australian Communications and Media Authority and analysis by the Australian Parliamentary Library shows the number of media owners in the Sydney market could fall from 12 to five, a 58 per cent reduction...
HERE’S a quiz. Which UK newspaper printed a headline last week about John Prescott, the deputy prime minister, using yellow type on a lurid green background? Which newspaper asked on its front page: Is Oprah really a Zulu? And which had Catwalk Cattiness billed as its most enticing item? Anyone nominating the Sun, the Daily Mirror, or the Daily Star should remain in class and pay attention. The...
