AAN News
Creative Loafing CEO Testifies in Bankruptcy Proceedingsnew
Ben Eason testified yesterday during a hearing to determine whether he will be able to maintain ownership of the six-newspaper chain or if it will be handed over to CL's largest creditor. According to Wayne Garcia, much of Eason's testimony related to the digital transformation of CL and the struggles of the print publishing industry. On Tuesday, CL's chief financial officer and its valuation expert are scheduled to testify. The judge will then rule on who gets control of the company, Garcia reports.
Creative Loafing (Tampa) |
03-13-2009 1:27 pm |
Industry News
Willamette Week Introduces Cost-Cutting Measuresnew
The Portland, Ore., alt-weekly was the latest to announce company-wide salary reductions yesterday. Effective March 16, staff pay will be reduced by 8 percent, while owners Mark Zusman and Richard Meeker will reduce their own pay by 25 percent. The move was made to keep the paper profitable for the balance of 2009. At the same meeting, Meeker, who is WW's publisher, announced that this week's paper was the largest since November and that ad sales for the spring appear ahead of budget.
Willamette Week |
03-13-2009 8:54 am |
Industry News
Creative Loafing Back in Bankruptcy Court Todaynew
Atalaya Capital Management said in court this morning that if it assumed control of the six-paper chain, it would continue to operate the newspapers "as a going concern" and put more money into the company rather than sell it off, Wayne Garcia reports. Atalaya, CL's biggest creditor, is seeking to wrest ownership of the company from CEO Ben Eason because it has "lost confidence" in his management. MORE: Later in the day's hearing, an expert on valuation testified that CL's value as a company had dropped more than $7 million in the three months after it declared bankruptcy. CL will make its case in court on Thursday.
Creative Loafing (Tampa) |
03-11-2009 1:27 pm |
Industry News
Google Starts Behavioral Targeting With a Hint of Transparencynew
Google will begin showing ads today to web users based on their previous online activities -- a practice known as behavioral targeting, the New York Times reports. Google will also give users the ability to see and edit the information that it has compiled about their interests. Like some of its rivals, Google also offering an option to opt out from what it calls "interest-based advertising."
The New York Times |
03-11-2009 10:40 am |
Industry News
In Mobile Ads, A Vast Potential to Micro-Targetnew
As more consumers adopt the use of smartphones for web browsing, the digital marketing industry is developing new ways to serve highly tailored ads to users, the New York Times reports. Mobile users can be sorted by demographic makeup and even by income; if the user downloads an application that uses a GPS tracker (like Urban Spoon), then there is potential for ads to be served based on exact location and travel patterns as well. Some privacy advocates have expressed concerns about the tracking, but the Times notes that "as long as advertisers don't use personally identifiable information, there is no current regulation or law" against such tracking.
The New York Times |
03-11-2009 9:59 am |
Industry News
Online Publishers Association Rolls Out New Display Ad Formatsnew
Business Week |
03-11-2009 12:35 pm |
Industry News
Allegations Against Yelp Spread to Chicagonew
The Chicago Tribune |
03-09-2009 9:10 am |
Industry News
Publishers Take Issue With Boston Globe Reportnew
The Globe's thesis is that "falling advertising revenue" is forcing weekly papers to "scale back dramatically." But Phoenix Media/Communications Group president Bradley Mindich says his publications don't fit that mold. "We are not cutting back," he tells reporter Johnny Diaz, who nevertheless intimates that the Boston Phoenix is using less color and sharing film reviews with its newly-acquired Spanish-language weekly to save money. "We actually have more color now" and cutting expenses is not the primary reason his papers are sharing content, Mindich tells AAN News. Weekly Dig publisher Jeff Lawrence says the story was mostly accurate but that it suffered from faulty framing: "Our business model is intentionally evolving -- not reacting to the economy," he tells AAN News.
The Boston Globe |
03-04-2009 3:26 pm |
Industry News
Creative Loafing Cuts Executive Compensationnew
Starting in April, the six-paper chain will cut executive compensation by five to 15 percent, Washington City Paper's Erik Wemple reports. On a conference call today, COO Kirk MacDonald said that he and CEO Ben Eason will take the 15 percent cut and that others -- including publishers, sales executives, and top editors -- will get more moderate slices. Wemple is glad he didn't have to implement another round of layoffs. "This approach makes way more sense," he writes. "No depressing discussions with the staff today!" MORE: The Chicago Reader and Creative Loafing (Tampa) weigh in.
Washington City Paper |
03-04-2009 12:43 pm |
Industry News
Google Rep: Publishers Should Focus on Bounce Rate, Not Hitsnew
Online Media Daily |
03-04-2009 9:05 am |
Industry News
Research Firm: Smartphones To Be Mainstream By 2013new
Online Media Daily |
03-03-2009 8:53 am |
Industry News
Analysts Predict First Contraction of Online Ad Market Since 2001new
The research group IDC has reversed its online advertising growth estimates from 10 percent growth in 2009 to a 5 percent drop in revenues in the first quarter that could get worse in the second. It would be the first contraction in online ad spending since the dot-com bubble burst in 2001. TechCrunch's Sarah Lacy says that the online ad industry needs to come up with innovative products to thrive. "There's too much outsourcing to the ad networks and too much of an assumption by the portals and other large properties that gaudy eyeballs will be enough," she writes. "That's old media thinking. It's enough to get ads when times are good, but not necessarily to keep them when times get bad."
TechCrunch |
02-27-2009 1:48 pm |
Industry News
Prediction: Mobile Ad Revenues To Hit $3.1 Billion By 2013new
According to the Kelsey Group, revenues from mobile advertising will jump to $3.1 billion in five years. Currently, mobile advertising sits at $160 million in 2008. The group also says expected revenues from local search will increase more than 130 percent per year to $1.3 billion by 2013.
Media Daily News |
02-25-2009 10:59 am |
Industry News
City Pages Will Run Daily Webcast from Local Radio Legendnew
Last week, City Pages announced that it was bringing longtime local radio host TD Mischke on to host a webcast streaming live on its website for two hours every weekday. Along with the daily web broadcast, Mischke -- who brought his own advertisers into the deal -- will screen original videos on citypages.com and publish a weekly column in the paper. MinnPost's David Brauer says the deal "show[s] how old and new media can be woven together."
City Pages |
02-24-2009 1:16 pm |
Industry News
Consultant: For Local Media to Succeed, It Must Embrace Local Economynew
"In the new economic paradigm local economies will thrive and prosper based upon the vitality and engagement of local citizens, local businesses and local media," writes Terry Garrett in response to a Business Week story that claims "'local' doesn't mean much online." While Garrett concedes that local ad buying is down (along with just about all ad buying), he argues that in the future, media companies will do more than just sell ads. "If local media are to advance the prospects of a local economy, the definition of service has to include being the instigator, coordinator and (one of the) resource providers for local first initiatives," he writes. "It's a collaborative model that extends beyond ownership and control, and that I believe, is the biggest challenge for local media companies who are accustomed to owning media to extract ad value."
Don't Panic |
02-23-2009 2:23 pm |
Industry News
