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The McClatchy Company announced yesterday that it had sold The Philadelphia Inquirer along with its sister paper, the Daily News, to a group of local investors new to the newspaper world for $562 million, paying $515 million in cash and assuming $47 million in pension liabilities, writes The New York Times. “The next great era of Philadelphia journalism begins today with this announcement,” said Brian Tierney, a lead investor and ad executive.
The new owners in Philadelphia, conducting business as Philadelphia Media Holdings, include “civic, labor and corporate leaders, entrepreneurs and private investors,” according to their statement. The group said they would leave current newsroom management in place and want to more aggressively market and sell ads for the newspapers, while upgrading their joint website, www.philly.com.
Newspaper industry analyst John Morton said that when local business people own a newspaper, conflicts of interest become a concern that “may be aggravated by the fact that these new owners don’t come out of a newspaper culture and might not be sensitive to the damage to a newspaper’s journalism and to its future by using it for some kind of personal agenda.”
Though off-air online and experiential advertising grew modestly as a part of the overall radio revenue pie, and election-related political ads increased in Q3, total radio ad revenues were down 9% to $4.97 billion for Q3 and down 10% for…
Glamour magazine is running its photo of Britney Spears not only on the cover of the U.S. edition, but on the covers in seven other countries, as well.
Britney will grace Russia, Sweden and Greece’s editions of Glamour, among others.…
Titan Worldwide has signed a five-year deal with the Delaware River Port Authority to manage out-of-home advertising for the Port Authority Transit corp.
The contract covers advertising on PATCO’s rail service and stations between Southern New Jersey and Philadelphia, writes Mediaweek.…
Publicis has acquired full-service agency W&K Communications, continuing its Asia expansion that began several years ago.
W&K will be pulled under the umbrella of Publicis’s Burnett agency network, and will be renamed Leo Burnett Beijing Advertising, writes Adweek.
Other recent Publicis…
With only four weeks separating Thanksgiving and Christmas this year, Cyber Monday One (December 1) and Cyber Monday Two (December 
may command a greater share of online sales than they have in years past - thus increasing the importance…
Top American non-luxury auto brands received higher ratings and less negative comments from online consumers than competing Japanese brands, according to an analysis of consumer opinions collected from automotive review websites by Biz360, MarketingCharts reports.
The research, which aggregated a year’s…
