It's not the stupid economy, newspapers

“The biggest thing we need right now is an improved economy, because at least 60% of the revenue problem we’re facing today is a good, old-fashioned economic recession,” says William Dean Singleton.We should be so lucky. But we’re not.The chief executive of the MediaNews Group was on the money when he told PaidContent.Org that an economic revival would be mighty welcome. But even the most robust

Drudge shows how to do news

As I scrambled from website to website this morning for the latest news while my retirement melted away, the place that consistently had the most complete, convenient and up-to-date information was the Drudge Report.For all the millions of dollars and thousands of people employed at the mainstream newspapers, broadcast networks and cable channels, Drudge had assembled the perfect mix of salient

‘Make or break’ time for newspapers

Newspapers have 18 months to prove themselves as valuable cross-media partners for retailers or the flow of advertising dollars away from them may accelerate, publishers were warned this week by their customers.“The next year to 18 months may be ‘make or break’ for the newspapers,” says David T. Clark of Deutsche Bank in a report summing up the NAA Retail Advertising Forum that just wrapped up in

The yin and yang of newspaper unions

Unions indeed are part of the problem for some of the newspapers struggling to survive the historic distress that has rocked their world. But unions, imperfect as they may be, help to level the playing field for workers. They are valuable and we need to protect them.The question of the proper role for unions at newspapers evoked vigorous comment at the prior post, which mentioned that a Chapter

Bankruptcy may be next at some papers

Bankruptcy court may be the next stop for some of the most precariously financed newspaper publishers.As awful as the prospect sounds, it actually could be a good thing for the newspapers, because a Chapter 11 bankruptcy filing enables a struggling company to restructure its debt, streamline its business and potentially put itself on a sounder footing for the future. Not all Chapter 11 filings

How the shrewder CEO cashed out at MNI

The year 2007 was a tough one at the McClatchy Co., as it struggled to integrate the complex and costly acquisition of Knight Ridder at the same time a steady deterioration in advertising sales began picking up steam.But the company seemed to be in luck. It had not one, but two, experienced chief executives on its board of directors – the incumbent Gary Pruitt and former Knight Ridder boss Tony

What’s going on at McClatchy?

Seeking the meaning of Gary Pruitt’s sudden resignation from the family trusts that control McClatchy, the Wall Street Journal speculated that the move foreshadows an initiative to issue millions of new shares to pay off the company’s billions in debt.The Journal might be right. But I doubt it. Here’s why:MNI has $2.1 billion in debt. Its shares nowadays are trading at about $3.30 apiece (only 18