Archive for the 'Uncategorized' Category

Aurora Sentinel sold to Aurora Media Group

AURORA | The Aurora Sentinel — daily, weekly and online news and advertising source to the state’s third-largest city — was sold to the Aurora Media Group LLC Thursday for an undisclosed amount.

The Sentinel, its publications, digital products and The Buckley Guardian came under control of new owners Feb. 24, according to officials from AMG and the now-former owners Aurora Publishing Co.

New publisher James Gold will direct operations of The Sentinel newspapers and associated media products.

“Professionally and personally, we are thrilled to be part of a community as culturally rich, innovative and thriving as Aurora,” Gold said. “The Sentinel and Buckley Guardian will continue their historical commitment to serving the community with exceptional journalism that instills a sense of place and perspective. In the months ahead we will extend our print and digital media, to engage  the city’s political, business, educational, cultural and artistic communities in new and compelling ways.”

Gold is the managing partner for Leap Media Partners and was SVP/CMO of the New York Times Regional Media Group.

Editor Dave Perry will remain. Former publisher H. Harrison Cochran is retiring.

“We were pleased in 1991 to bring Aurora’s paper back to local ownership and are excited that the Aurora Media Group will continue that,” Cochran said. “Local ownership with hands-on management is increasingly rare in the era of corporate consolidation.”

The 102-year-old newspaper has covered Aurora as a weekly, a daily and as a digital media company while the city grew from a rural hamlet east of Denver to become an exurb of  325,078 people, Buckley Air Force Base and the massive Fitzsimons medical and research complex.

The newspaper has changed hands and names under  a variety of private and corporate owners over the decades. Once part of the Sentinel news group under the Minneapolis Star Tribune, the paper was sold to local owners at the Aurora Publishing Co. in 1991 and remained under that banner until now.

CBS Buys ‘Green’ Media Firm EcoMedia

By Joseph Tartakoff  for PaidContent.org

CBS (NYSE: CBS) has made a small acquisition, buying EcoMedia, an environmental media firm. The two companies had already been working together in local CBS markets; under their partnership, advertisers could allocate a portion of their CBS ad spending to a local environmental project that EcoMedia identified as needing funding. So far, EcoMedia says it has invested $1.5 million in environmental projects, including a project to install solar panels at the Long Beach Airport. CBS says all of its divisions will now work with EcoMedia “to bring advertisers a new way to engage consumers while improving the environment.” No financial terms were disclosed.

Fallows: Google is trying hard to bring the news business back to life

By James Fallows for The Atlantic

google logo

Plummeting newspaper circulation, disappearing classified ads, “unbundling” of content—the list of what’s killing journalism is long. But high on that list, many would say, is Google, the biggest unbundler of them all. Now, having helped break the news business, the company wants to fix it—for commercial as well as civic reasons: if news organizations stop producing great journalism, says one Google executive, the search engine will no longer have interesting content to link to. So some of the smartest minds at the company are thinking about this, and working with publishers, and peering ahead to see what the future of journalism looks like. Guess what? It’s bright. Read More

Texas Tribune: 6 Month Update

By Evan Smith for Texas Tribune

Last week we celebrated our six-month birthday (it’s not too late to send a card — or a gift). It seems like only yesterday, blah, blah, cliché, blah — but, actually, it does seem like only yesterday that the Trib went live, even if doesn’t feel like it (ow, my aching lack of sleep).

What we’ve learned from then until now is truly if predictably mind-blowing, Read More

The Newsonomics of reborn newspaper profit

By Ken Doctor for the Nieman Journalism Lab

The first quarter newspaper numbers are in. They paint a consistent picture.

Across the board, the reporting of public news companies reflects a new, if unsteady reality. In short, that reality is one of profit. Not the big profit of 20-percent-plus profit margins — the envy of many other industries — that were a truism as recently as five years ago. Now, the profit’s more tepid, mostly in single digits: The New York Times, 8 percent; Gannett, 8 percent, McClatchy, 1.5 percent. Expectations run that news companies will show a five to 10 percent profit for the year, absent unforeseen calamity.

But that mild profit is good news. Recall that a year ago, much of the industry was in freefall. A number of companies — stunned by the quick near-Depression downturn of ad revenues — went operationally into the red. They responded with draconian cuts in staff and newsprint, and as the recovery has emerged, they’ve positioned themselves as smaller but profitable companies, though their first-quarter revenues still largely lagged the first quarter of the horrific Q1 2009. Wall Street has rewarded them with improved credit ratings and advanced share prices. There seems to be, say investors, some future here. This week’s tenacious auction in Philadelphia with lenders led by the Angelo Gordon private equity company — now a big player in the U.S. daily business — winning the papers with a $135 million bid only reinforces the notion that newspaper valuation may have been trashed too much.

It’s a fragile stability. One big question for all publishers: where do we go from here? Read More

Creditors Get Philly For $139 Million

By Christopher K. Hepp and Harold Brubaker for Philly.com

NEW YORK – A bitter 15-month battle for ownership of the city’s two daily newspapers ended Wednesday when Philadelphia Newspapers L.L.C. lost a marathon bankruptcy auction to its senior creditors.

The media company, owner of The Inquirer, the Philadelphia Daily News, and Philly.com, was bought by its largest debtholders to conclude a tense, coffee-fueled, 29-hour bidding process at a law firm in midtown Manhattan. The price was $139 million. Read more

Firefox Wants to Be Your Online Identity Portal Too

By Mathew Ingram for Gigaom

Firefox has thrown down the gauntlet in the race to take charge of your online identity, saying it will soon add identity management features to its browser, and hopes at some point to build recommendation services into the browser as well. The move pits the Mozilla read more

After Long Sales Drought, Will Newspaper M&A Activity Finally Get Going in 2010?

Brokers say there is a large pool of publishers who have wanted to sell their papers for the past two or three years — and will be willing to deal as the economy improves and banks begin lending again.
by Mark Fitzgerald for Editor and Publisher read more



Follow

Get every new post delivered to your Inbox.