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Jason Kushner, a 25-year-old New York University law student, recently bought the New York Observer for $10 million, Media Life reports.
The New York Observer has a circulation of 50, 000 and reports losses of at least $2 million per year. The founder of the newspaper, Arthur Carter, has retained a minority share in the publication.
Kushner is the son of Charles Kushner, a property developer who is currently serving a prison sentence. There have been several negotiations with The Observer in the past, including deals with Robert De Niro and Tribeca Enterprises.
A letter from the editors, on The Observers’ home page, says, “As for us, the editors, our gratitude to Arthur Carter is deep, our faith in Jared Kushner awakening. We make a real promise to our readers: to provide you with The New York Observer as you have understood it, both in its nettlesome fairness and its sense of joy in the vitality, health and particular complications of life in New York City. That is our pleasure, our preoccupation and our reason for publishing.”
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The newly merged company…
October advertising revenue plunged for The New York Times Co. and McClatchy, despite some growth in online ad revenue.
The New York Times saw ad revenue plummet 17.2%; online ad revenue increased 5.3%, writes MediaPost. Classifieds have fallen 27.3% year to…
The switch to digital television arrives in less than three months, and to remind consumers of the transition, the National Association of Broadcasters is running a campaign across PumpTop TV’s network of screens at gas stations.
The spot began airing…
Through the first half of the year, automakers have slimmed their ad spending by 10% to $6.1 billion, according to Nielsen Monitor Plus.
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Getting real-time, 24/7 online access to company news and reaching responsive and efficient PR representatives still rate high on journalists’ wish-lists, but reporters are increasingly sourcing stories from new forms of media as well, according to research from Bulldog Reporter and TEKgroup…
Some 20% of top brand marketers continue to send additional emails to consumers, even after they confirm requests from those consumers to “unsubscribe” from an email marketing list, according to a research study from Return Path, MarketingCharts writes.
Though the study,…
