Blog Post

Newspaper Roundup: NYT; Boston Globe; Gannett; Seattle Times; McClatchy; WPNI

NYT: Internet ad revenues for the New York Times Co.’s (NYSE: NYT) News Media Group grew 25.6 percent as both display and classified remained healthy, especially compared to April 2007’s slowing growth 15.6 for online. The result was the opposite for The About Group, which saw ad revs rise 14.2 percent last month versus April 2007’s 26.6 percent growth. Overall, NYTCo.’s numbers were predictably dismal, ending April with continuing operations’ revenue down 2.2 percent compared with the same month a year ago, while general ad revenues fell 5.1 percent. (Release). Separately, NYT has also created an Olympics blog and section, which is also tied to a dedicated part of its sports pages. More details here.

Boston Globe: The NYTCo.’s is the latest to offer a community site aimed at moms. This one’s called BoMoms and is obviously trying to tie the local angle in as well. (Release)

Gannett: April revenues were reported today as well, and the newspaper publisher didn’t break out online performance, except to say that it attracted 25.5 million uniques versus 23.1 million the year before – a 10.4 percent gain, which was exactly the same percentage for Gannett’s (NYSE: GCI) ad revenue year-over-year decrease. (Release)

Gannett: If it’s not layoffs, it’s buyouts these days… Gannett is the latest newspaper publisher to offer buyouts to staffers at its New Jersey pubs in an attempt to stave off enforced job cuts. The company is hoping to get 166 volunteers to accept buyout offer. Only those 55 and older who have worked for Gannett for at least 15 years are eligible. The papers targeted for reductions include the Asbury Park Press, Courier-Post, The Daily Journal, Home News Tribune and the Courier News. (Reuters)

The Seattle Times: In an attempt to realize cost savings of $15 million, The Seattle Times Co. slashed the staff at its flagship paper by 125 members this past week. About 73 of those were laid off, while 52 left voluntarily, as 51 accepted buyout offers. In the newsroom, 19 employees took buyouts. As part of the cost-saving plan, last month, the company said it will leave 60 positions unfilled and lay off up to 131 staffers. Before this week’s cuts, The Times had 1,845 full-time and part-time employees. (Seattle Times)

McClatchy: Separate from the job eliminations at The Seattle Times, The McClatchy Company (NYSE: MNI) said it will reduce its investment in the paper’s parent. The Sacramento, CA.-based media company said its 49.5 percent stake in The Times has a carrying value of $12.06 million, a reduction of 38 percent from the value McClatchy found last December. McClatchy had valued its interest in The Seattle Times Co. at $102.2 million at the end of 2006 and $89.9 million last June. In December, McClatchy dropped its estimated value of this investment to $19.3 million. (Puget Sound Business Journal)

WPNI: Rob Curley is leaving his post as Washingtonpost.Newsweek Interactive’s VP, product development, to join the Las Vegas Sun. He will be working on the Greenspun Media Group’s online properties there, but no further details on exactly what he’ll be doing were available. (ClickZ)