Below is a sampling of recent media moves and news compiled by PR Newswire’s Audience Research Department.
Newsweek Magazine owner IAC has sold the magazine to the International Business Times. According to the Daily Beast, the International Business Times is a global news publication founded by Etienne Uzac and Jonathan Davis in 2006. Newsweek was originally sold by the Washington Post Company to philanthropist Sidney Harman in 2010, and then merged with The Daily Beast in November of 2010; ultimately leading to a shared ownership between Harman and The Daily Beast owner IAC. The short joint venture ended in 2012 when the Harman family decided to sell their investment in the company shortly after the death of Harman. Newsweek will part ways with The Daily Beast once the sale is complete, and continue to operate as a digital publication.
CBS and Time Warner Cable reached an agreement on the retransmission contract, which had ended in June. The two conglomerates had been at a stalemate causing several CBS affiliates to lose content. More than a dozen stations were blacked out during the dispute. The Federal Communications Commission was poised to step in but did not have to in the end. Read more details at: http://www.nytimes.com/2013/09/03/business/media/cbs-and-time-warner-cable-end-contract-dispute.html?_r=1&
Patch (http://www.patch.com) is planning to shutdown 300 of its 900 local news sites. AOL, the parent company of Patch, is trimming the 300 that are not creating enough revenue. Each “Patch” (https://twitter.com/PatchTweet) provides news and information for a localized area. They are hoping to sell some of the sites or partner with another company to cover costs in producing the Patch sites in some areas of the country.
A recent study by two business school professors (Feng Zhu of Harvard Business School and Robert Seamans of New York University) showed that craigslist, the online local classified website took a big bite out of newspaper advertising. They state that consumers saved over $5 billion by using craigslist (http://www.craigslist.org) from 2000-2007 instead of the local newspaper. This study puts craigslist at the top of the list as another contributing factor in the decline in newspaper revenues. Here’s more information from the study: http://www.reuters.com/article/2013/08/13/ny-nyu-stern-school-idUSnBw135869a+100+BSW20130813
HD radio set numbers are up: Ibiquity the company behind HD Radio (http://www.hdradio.com) projects over five million HD radios will enter the market this year up from three million previously. Car manufacturers are the impetus in this growth by including HD Radio in their model offerings this year.
The Toronto Star (http://www.thestar.com) has put up a paywall. Canada’s largest daily newspaper gives you 10 free stories per month but after that it will cost about five Canadian dollars a month. If you already subscribe to the newspaper digital access is included for free.
BH Media Group, a subsidiary of Warren Buffett’s Berkshire Hathaway Company, acquired The Press of Atlantic City (http://www.pressofatlanticcity.com) and named Matt Blum (firstname.lastname@example.org) Publisher. Previously Blum was the Publisher of the Morning News in Florence, S.C. and is not new to The Press. From 1989 to 1993 Blum was the papers’ Controller. BH Media currently owns 30 daily newspapers and weeklies in Virginia, the Carolinas, Florida, Iowa, Texas, Nebraska and New Jersey.
Meredith Corporation (http://www.Meredith.com) supports the list of broadcasters approving the TVB analysis who provide local live + same day ratings: http://www.tvb.org/media/file/Meredith-Broadcasting_08-12-13_Live-Plus-Same-Day.pdf
ABC (http://www.abc.go.com) owned stations are to lay off 175 employees within the Disney/ABC Television Group as part of restructuring operations: http://www.latimes.com/entertainment/envelope/cotown/la-et-ct-disney-abc-layoffs20130821,0,4888715.story