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The New York Times will be cutting about a dozen jobs and putting a hiring freeze into place.
A memo from Bill Keller notes (via Fishbowl NY) that, “… each of you has helped us save money by finding new and more efficient ways to do what we need to do. That has enabled us to avoid the kind of drastic staff cutbacks other news organizations have endured.”
The memo goes on that in 2008, spending will have to be tightened even more, in order to “meet the difficult financial challenges facing our industry.”
The layoffs in the newsroom will not be journalists, but will rather come from clerical and secretarial positions, as well as in administrative areas. However, in the coming year, as journalists retire or resign, the company will try to fill their positions internally.
The news comes a day after a Wall Street analyst downgraded the company’s stock to a sell. The Times, according to TheStreet.com author Nat Worden, is looking vulnerable “on the eve of what could be the last great newspaper war in New York City.” Worden references the fact that a Rupert Murdoch-owned Dow Jones plans to beef up the political coverage of the Wall Street Journal in preparation for a full-frontal attack on The New York Times.
Meanwhile, he points out, the Wall Street Journal is hiring.
TargetSpot has acquired online streaming ad rep firm Ronning Lipset Radio in a move that will form the largest audio advertising network and streamline the buying of online radio spots, the companies say.
TargetSpot is an online system for creating,…
FT Group, publisher of the Financial Times, saw total revenue leap 11% for the first nine months of 2008. Circulation and ad revenue grew, as did revenue from interactive data.
Ad revenue was up 1% over the first nine months…
Location-based services that allow marketers to connect with consumers wherever they are have long been considered the ideal in advertising. eMarketer is predicting that the opportunity will grow significantly in coming years, with the number of consumers using such services…
Comedy Central is building on the success of its two wildly popular fake-news programs, The Colbert Report and The Daily Show, adding a show called Chocolate News.
The new show will star David Alan Grier as the pompous host of…
Prices of list rentals are declining across the board and – for the first time ever - show a downward trend in every B2C and B2B category tracked, according to Worldata’s Fall 2008 List Price Index (see table), writes MarketingCharts.
Permission-based email…
Custom publications are being increasingly produced by specialty editors and designers (73%) rather than by those in communications roles, according to a study conducted by the Custom Publishing Council (CPC) in cooperation with Publications Management, writes MarketingCharts.
The survey, “Staffing and Compensation:…
