Source: thetyee.ca Glacier’s Kamloops paper shut down despite company profit margins above 30 per cent. Vancouver-based Glacier Media, which recently gave notice it will close the long-publishing Kamloops Daily News, enjoys profit margins above 30 per cent, according to financial reports available on its website. It also reportedly pays its top executives millions of dollars a year and pays its directors $1,000 for …
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Source: vancouversun.com The Kamloops Daily News is closing due to declining revenues and high costs, but the industry says this does not signal distress in the daily newspaper business as a whole. “This is the first major market paid daily that we’ve seen close in recent memory,” Newspapers Canada president and CEO John Hinds said. Read more:
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Source: j-source.ca Black Press Media has shut down the Abbotsford/Mission Times, a little more than a month after purchasing the B.C. paper from Glacier Media. The company also took down the newspaper’s website and closed its Twitter account. When asked why the company was shutting down a newspaper it considered a worthy purchase in October, Rick O’Connor, president and CEO of Black Media, told …
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Source: inma.org When considering the future of print, remember that 80% of Canadians read newspaper content every week. The number of those who only access this content through digital formats is rising, of course. But one thing remains consistent: the belief that newspapers are a credible and comprehensive source of information. Read the entire story here
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Source: mashable.com Over the past eight years, newspapers have seen budgets cut and newsrooms shrink as readers — and more crucially, advertisers — have shifted from print to digital devices. To combat those shifts, publishers have drastically cut costs, reduced (or in some cases, completely halted) publication of their print editions, redirecting resources to digital editions and ad products instead. read the entire …
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Source: j-source.ca Postmedia Network’s B.C. papers have suffered a spate of bad news recently—a large number of employees took buyouts from The Province and the Vancouver Sun, and there were rumours the two brands would be merged into one newspaper. Then there was that memo from Pacific News Group president Gordon Fisher that riled many, putting two floors of its building …
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Source: j-source.ca The union representing Globe and Mail employees said the company must stop pointing the finger at them for its financial struggles. “There is no denying The Globe is struggling, perhaps failing financially. We get it. But a blame-shifting approach won’t fix The Globe’s very serious problems,” said Sue Andrew, unit chair at the Southern Ontario Newsmedia Guild in a memo obtained by Christine Dobby at the Financial Post. “Characterizing Globe employees as having a …
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Source: usatoday.com Being president and CEO of the Newspaper Association of America is not a job for the fainthearted. Your mission includes lobbying for, speaking for and galvanizing an industry that, while it is the press, hasn’t gotten very much good press, not for a long time. Click here to read entire story
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As media giant makes 17 per cent profit, Sun, Province publisher says more fat to cut. Source: TheTyee.ca Faceless foreign ownership is behind newspaper publisher Postmedia’s push to cut costs at Vancouver’s duopoly dailies, according to the head of the union that represents workers at the Sun and Province. “One of the big problems with Postmedia is it’s controlled by …
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Source: mediaunion.ca The Kennedy Heights printing plant will be put up for sale immediately and operations there will cease sometime in 2015, the union was told today by Paul Godfrey, CEO of Postmedia. The company presented two possible options going forward. One is contracting out the work currently done at Kennedy Heights. The company has “entered into a contract with Transcontinental” …
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