Newsonomics: The Financialization of News Is Dimming the Lights of the Local Press

There’s a nice scene in Hail, Caesar!, the Coen brothers’ latest movie, in which one Hollywood character astutely observes: “We’re not talking about money — we’re talking about economics.” Indeed. This year’s crazy-making U.S. presidential election further illuminates and blurs that divide. ...

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Tribune Publishing Prepares to Play More Defense

After a mid-month lull, the drama of Tribune Publishing’s future is becoming more public again — on both coasts, and at the mothership in Chicago — highlighting a company still on the defensive. On Sunday, recently fired L.A. Times Publisher and would-be Times buyer Austin Beutner will get a ...

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Gannett Joins the 100 club with Purchase of 15 More Dailies

Gannett may be struggling along with its peers, but it’s doubling down on the newspaper business. Today, the largest U.S. newspaper company by revenues (and second-largest globally, to News Corp.) bought 15 more dailies from the Journal Media Company. The price: $280 million, which represents a ...

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Newsonomics: “Apple News Changes Everything” & 10 Other Headlines You Could See This Fall

Summer appears gone; prepare to mark the first day of fall in the traditional fashion, with a new set of announcements from Apple. On Wednesday, Apple will dazzles with new iPhones, a new Apple TV, iOS 9, and a few more reveals about Apple News. The event has gotten many in the media business ...

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What the Next Recession Could Do to The Media Business

Maybe it’s a blip. Maybe we’ll see the global stock market plunge of the last week as a hysterical overreaction to China’s economic woes. Or maybe, it’s the unwelcome, but real, signal that the economic recovery that the U.S. – and lately Europe – have enjoyed may be compromised. Certainly, ...

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What Are They Thinking? Larry Kramer and the Reshaping of Gannett

Will the new Gannett be like the old Gannett? The company is completing its split-up process. The goal: by July 1, the broadcast and digital assets investors covet will spin into TEGNA. That division follows in the broadcast/print separation footsteps of News Corp, Tribune, Media General, Belo ...

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Newsonomics: Buying Yelp — and Making It the Next Core of the Local News and Information business

Yelp’s for sale, and the news has generated the usual, now-tiresome lists of potential buyers: Google, Amazon, Apple, Yahoo, Facebook. It’s like all the money in the business world slid off one end of the table and sluiced down to Silicon Valley. Forget the old spend-a-week-without-the-Internet ...

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Apollo Withdraws from D.F.M. Deal, John Paton Leaves

As of today Apollo Global Management won’t meet Digital First Media’s price. That price tag of $400 million (“What are they thinking? Apollo’s acquisition of Digital First Media”) had been wavering as Apollo did its continuing due diligence over the last two months. “We have concluded we are ...

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Newsonomics: Razor-Thin Profits Cut Into Newspapers’ Chances at Innovation

If you want to talk about profits at the U.S.’s top newspaper companies, you don’t need big numbers any more. Tribune Publishing could count a bare $2.5 million in net income for the first three months of the year. That’s the combined net of eight metro papers, including the ...

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Newsonomics: A Coast-to-Coast Newspaper Shuffle Is Taking Shape

From coast to coast, the spring scent of newspaper transactions hangs in the air. The big one — Apollo Global Management’s purchase of Digital First Media — is nearing completion. Meanwhile, sellers from New York City to southern California test the mettle (and wallets) of would-be buyers. ...

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