Publishing/Writing: Insights, News, Intrigue

06/29/2013

Social Media Sites to Become “Personalized Newspapers” – Elsewhere, Market Caps for Current, Fading News Sources


The ‘print publishing industry’ is a phrase used by some in the field to refer to the old newspaper game. And it’s a game undergoing some dynamic shifts and adjustments — due mostly to falling subscriptions and advertisements — the financial numbers depicting this follows in tonight’s post.

This adjustment/survival mode being entertained by the major print news giants such as New York Times and News Corp has opened up new inroads for innovative companies to deliver more frequent and customized news (and news feeds) to more demanding and sophisticated customers.

And just who are these innovative ‘white knight’ companies who will charge in and take up the banner of global news delivery? Social media sites, that’s who — Facebook and LinkedIn, to be specific. Others are sure to follow.

Facebook is developing a service called ‘Reader’ that will reveal news content to its users and¬†LinkedIn just bought ‘Pulse’, a mobile application that enables users to create custom news feeds. The service is similar to Facebook’s Reader.

Imagine being able to immediately tap into news feeds that old print newspapers used to get the stories they published the next day or later? All kinds of interesting things are brewing and possible in the future of news and news delivery ūüôā

From the Insider Monkey by The Motley Fool:

Facebook Inc (FB), LinkedIn Corp (LNKD): Two Companies That Will Grow In a Declining Publishing Industry

The invention of the printing press by Johannes Gutenberg in 1440 revolutionized the world, reducing the price of printed goods and enabling the materials to be mass-distributed. Now, technology is doing the same. Established publishing companies are facing challenging times, while social media firms like Facebook Inc (NASDAQ:FB) andLinkedIn Corp (NYSE:LNKD) are poised to capitalize within a new market.

A dying model

Newspapers generate their revenue primarily from subscriptions and advertisements. And with both decreasing in recent years, the industry is under major reconstruction. For example, according to The Wall Street Journal, The Newspaper Association of America estimated that U.S. print advertising fell 55% in the past five years. Further, Magna Global expects print ad revenues to drop 6.8% in 2014, and Zenith Optimedia anticipates print ad spending to drop 8% in coming years.

Entrenched players are adjusting to stay alive

The New York Times Company (NYSE:NYT)¬†publishes national and regional newspapers and ‚Äúowns¬†eight network-affiliated television stations, two New York radio stations and more than 40 web sites.‚ÄĚ However, to diversify its portfolio and focus its strategy, it plans to sell¬†The Boston Globe¬†and related assets.

The transition comes as New York Times wants to expand its international reach. With current assets just under $1 billion as of the first quarter, and liabilities exceeding $2 billion, the cash generated from the potential sale will help the publisher to remain competitive by paying down debt, moving into new markets, and holding a cash reserve for future use.

On Friday, conglomerate News Corp (NASDAQ:NWS) will officially spin off its publishing and newspaper assets. It wants its two major business units to function independently and to encourage growth, especially with its entertainment division. This segment will be named 21st Century Fox, and will continue to operate major news and television studios, along with major broadcasting networks.

News Corp’s publishing spin-off is valued at $9.1 billion, about one-seventh the value of 21st Century Fox. However, by market cap, it is still the largest print media firm in America.

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04/27/2013

The Publishing Industry is Just Experiencing Growing Pains – Not Armageddon!


Publishing Business experiencing growing pains

The change washing across the publishing industry has caused some, even some so-called pros within the profession, untold angst and driven them to overdose on Bromo Seltzer, declare an end to ‘literature’ and ALL things cultural, for that matter – It’s no f—ing wonder they haven’t jumped out of 30th floor windows like when the market crashed in ’29!

Just goes to show you that being learned in a profession does not immune you from stupidity when that profession experiences inevitable¬†change/growth. We all enter the food chain at a specific snapshot in time — and having cut our teeth on and learned the ‘procedures-of-the-day’, resulting in income/rewards of varying degrees (depending, perhaps, on our karma), we think what we have mastered will never change and we will live in this snapshot in time forever after.

Bullshit! — Just as we age and change, so does everything else – including publishing.

Please read this post on my Writers Welcome Blog: James Patterson Wants Government to Bail Out Book Industry for a little background.

Relax, folks, the publishing industry is going to be just fine, literature is NOT going to disintegrate – in fact, it’s going to EXPLODE as never before for those that will come after us and books, both digital and print AND future formats, will live and thrive together. Bank on it.

This view by Brandon Barb as reported in The Spencer Daily Reporter:

 

The publishing industry is safe

The publishing industry is in the same boat as the newspaper industry. Both are dealing with digital formats that are quickly changing the way people read and consume content, but neither industry has quite figured out how to utilize that digital aspect to a full extent. When those formats are ironed out the industries will be just fine. Neither books nor newspapers are going to go away.

With that being said, successful author and writer James Patterson is calling for the U.S. government to bail out the publishing industry. For some background, Patterson’s books have sold millions of copies and he is on four New York Times bestseller lists. He isn’t exactly in need of a bailout, nor is the publishing industry.

Patterson called for the bailout in an advertisement placed in the New York Times Book Review and Publishers Weekly. It asks, “If there are no bookstores, no libraries, no serious publishers with passionate, dedicated, idealistic editors, what will happen to our literature?”

The same can be said for the newspaper business. If there are no newspapers or magazines, where will people read news that matters? Where will our news come from if not from editors and writers all over the world?

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12/03/2011

‘History on the Run’ – An Insight Into News Publishing from Nova Scotia


Graham Dennis - News Publisher in Nova Scotia

Apparently Graham Dennis,¬†publisher of The Chronicle Herald and The Mail Star in Nova Scotia for the last 57 years, fought off the temptations to be like the¬†Murdochs¬†and the Maxwells of the world ‚ÄĒ brash, flamboyant, vain, complicated, and determined to build an empire.

This fact alone makes Mr. Dennis a hero in my book … And a true journalist, businessman and publisher focused on a mission to better the world through genuine reporting of world and local events.

Graham Dennis¬†passed away last Thursday at the age of 83 … He outlived many icons and through much¬†transformative history.

Here is a little of Mr Dennis’ unique history and an inspiring slice of publishing history:

As reported by Jim Meek for The Chronicle Herald: 

When Graham Dennis took over as publisher of The Chronicle Herald and The Mail Star, the type was hot, the war with the Soviets was cold, reporters were “ink-stained wretches,” and writers of letters to the editor signed off their fiery missives with pseudonyms.

The year was 1954. The New York Giants were World Series champions. Louis St. Laurent was prime minister. Dwight Eisenhower was president. Queen Elizabeth was two years into her reign. Conrad Black, future media baron, was still wearing short pants. Graham Dennis, destined to serve as this newspaper’s publisher for the next 57 years, was 26 years old.

Mr. Dennis, who died on Thursday, outlasted all of the above in one way or another ‚ÄĒ except the Queen, which would be just fine with him. Yes, Mr. Black is still around, but he‚Äôs been to prison and he can‚Äôt be described as a media mogul anymore.

I mention dear Conrad because he in many ways stands for the typical newspaper proprietor of his era. Black is like the Murdochs¬†and the Maxwells of the world ‚ÄĒ brash, flamboyant, vain, complicated, and determined to build an empire.

Graham Dennis was cut from different cloth. He was modest, self-effacing, shy, polite to the point of courtliness, and focused on the single goal of running one smallish daily newspaper whose mission was to support progress in the place he loved ‚ÄĒ Nova Scotia.

Conrad Black was also like many of his Canadian contemporaries in another way ‚ÄĒ he was determined to buy The Chronicle Herald newspapers from Mr. Dennis. In fact, quite a crowd of media bosses has tried to unseat the Dennis family.

When I was The Chronicle Herald‚Äôs Ottawa correspondent, in the early 1980s, the guys who worked for the Thomson newspaper chain often bugged me about whether “Graham” might sell. The Thomson newspaper chain is no longer with us; the Dennis family still owns the Halifax newspapers.

In 1999, I was at a dinner in Toronto at which Peter White, an adviser to Conrad Black, pointedly sat beside me. I was vain enough to imagine that White wanted to experience the light elegance of my refined company. Within five minutes, his real mission was clear. He wanted to know if Mr. Dennis would speak to Conrad about selling the paper.

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