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Posts Tagged ‘newspapers’

Selling Off the Family Business

With the recent sale of The Washington Post to Jeff Bezos, the less-recent sale of the Wall Street Journal to Rupert Murdoch’s News Corp., and the N.Y. Times’s exuberant denial that it is for sale, one thing came to mind: family businesses.

Not an obvious common thread, perhaps. But I have long been interested in how family-run businesses succeed or fail — and in fact this week have just re-released an hour-long Freakonomics Radio podcast on the topic, “The Church of ‘Scionology’” (subscribe here). It features stories on a pair of family beer businesses — Anheuser-Busch and Yuengling — as well as the strange tale of adult adoptions in Japan in the service of corporate stability (i.e., if your son or daughter isn’t up for the job of running your company, then you can simply adopt your successor).

The Post and Journal were long-held family businesses, the Post by the Graham family and the Journal by the Bancrofts. The Times, in an ownership structure similar to the Post, is a public company whose voting shares are controlled by the Ochs-Sulzberger family, and Arthur Sulzberger, like his ancestors before him, is the publisher of the newspaper. I haven’t worked at the Times for some time but the feeling then — and I am told that the feeling persists — is that the Sulzberger family has done an extraordinary job of protecting the editorial integrity of the newspaper, as might be expected of a family steward, but has been less competent than one might wish in shepherding its business interests. (This is all speculation, of course, as there is no counterfactual.)



"Homicide Victims Rarely Talk to Police," and Other Horrible Headlines

From a friend, who got them from a friend, who got them from someone else, here’s a collection of newspaper headlines that don’t quite accomplish what the writer set out to accomplish. Anyone who has ever written or published anything can surely sympathize — and laugh.



Parsing the Times Paywall

In a new paper (abstract; PDF), psychologists Jonathan Cook and Shahzeen Attari surveyed users about the hotly debated New York Times paywall:

Participants were surveyed shortly after the paywall was announced and again 11 weeks after it was implemented to understand how they would react and adapt to this change. Most readers planned not to pay and ultimately did not. Instead, they devalued the newspaper, visited its Web site less frequently, and used loopholes, particularly those who thought the paywall would lead to inequality. Results of an experimental justification manipulation revealed that framing the paywall in terms of financial necessity moderately increased support and willingness to pay.



Who Owns a Link? Google Vs. European Publishers

The New York Times published an interesting article last week about an ongoing dispute in Europe between Google and European newspapers (and their supporters in government). The issue is whether Google must pay for the privilege of linking to those sites, or should be able to link for free. Of course, at stake is who gains the revenue that comes from aggregating and compiling links.

As the Times notes:

Google got rich by selling a simple proposition: The links it provides to other Web sites are worth a lot of money, so much that millions of advertisers are willing to pay the company billions of dollars for them.

Now some European newspaper and magazine publishers, frustrated by their inability to make more of their own money from the Web, want to reverse the equation. Google, they say, should pay them for links, because they provide the material on which the Web giant is generating all that revenue.



Will Amazon's Same-Day Delivery Model Hurt Newspapers?

In Nieman Journalism Lab blog post, Ken Doctor explores the possible effects of Amazon’s shift into same-day delivery on newspaper advertising revenues:

Here’s what most hurts most about the new Amazon threat: It aims directly at the one category of newspaper advertising that has fared the best, retail.

Classifieds has decimated by interactive databases. National has migrated strongly digital. Retail, which made up of just 47 percent of newspaper ad revenues 10 years ago, is now up to 57 percent of newspaper totals. Now that advertising, albeit in just a few markets initially, will have to compete with Amazon-forced marketplace change.

Doctor also considers the implications of the move for Google, cityscapes and shopping centers, and employment.

(HT: Marginal Revolution)



A New Revenue Source for Journalism?

Felix Salmon recently proposed an interesting new profit source for newspapers like The New York Times. Citing the Times‘s recent expose on Walmart and the resulting drop in the company’s share price, Salmon wonders why the company doesn’t charge companies for early access to big stories: 

[S]houldn’t the NYT, which can always use a bit of extra revenue, take advantage of the fact that its stories can move markets so much? Not directly: I’m not suggesting that the New York Times Company should start buying out-of-the-money put options on Mexican corporates in advance of its own stories. But how much would hedge funds pay to be able to see the NYT’s big investigative stories during the trading day prior to the appearance of the story? It’s entirely normal, and perfectly ethical, for news organizations, including Reuters, to give faster access to the best-paying customers.




Typo or Biggest NFL News of the Year?

In today’s Wall Street Journal, Jared Diamond (not this one) has written an interesting article headlined “Belichick’s Coaching Tree Bears Very Little Fruit.” Here, from my iPad edition, is the accompanying photograph:

The caption reads “Bill Belichick of the New England Patriots, who was hired last week as Penn State’s new football coach.” That’s not quite right. The Bill from the Patriots who was hired by Penn State was the Patriots’ offensive coordinator Bill O’Brien, as Diamond’s article makes clear in the first paragraph. Belichick is still very much the head coach of the New England Patriots.



Pew Study: People Undervalue Their Local Newspaper

A new research report from the Pew Research Center reveals that while Americans get their local news from a variety of different sources, they far undervalue their local paper as a major source of that news. Authors Tom Rosenstiel, Amy Mitchell, Kristen Purcell and Lee Rainie write:

In all, the data in a new national survey show that the majority (64%) of American adults use at least three different types of media every week to get news and information about their local community—and 15% rely on at least six different kinds of media weekly.

The most interesting statistic is the mixed messages that people send about their local newspaper. While 69 percent of Americans claim that losing their local newspaper would have no impact, their reading habits show that people rely on print and online papers for 11 out of 16 major news topics. The authors write: “In other words, local TV draws a mass audience largely around a few popular subjects; local newspapers attract a smaller cohort of citizens but for a wider range of civically oriented subjects.”

 

 




Recursivity

My Wharton colleagues Jonah Berger and Katherine Milkman have an intriguing new paper out that analyzes what it takes for an article to make the New York Times’s most emailed list.



Newspapers Not as Dead as You Think

We’ve blogged about proposals to save ailing print newspapers. Despite shrinking circulation and falling ad revenue, Daniel Gross doesn’t think print news is doing so badly.



The Poetry of Journalism

Last week, Israel’s oldest newspaper, Haaretz, took a one-off chance, temporarily replacing its workaday reporters with 31 of the country’s leading poets and authors. The writers, as writers do, ran amok. They filed epic front-page news reports on daily life in the first person; ruminated about childhood in an interview with the country’s defense minister; and delivered the weather report as a sonnet. The market report, written by a celebrated children’s book author, read like a fairy tale: “Everything’s okay. Everything’s like usual. Yesterday trading ended. Everything’s okay. The economists went to their homes, the laundry is drying on the lines, dinners are waiting in place … Dow Jones traded steadily and closed with 8,761 points, Nasdaq added 0.9 percent to a level of 1,860 points …”



The Morning News

| In the 1930’s, Franklin Roosevelt started his day by reading half a dozen newspapers in bed. Today, you can read the printed front pages of more than a dozen major newspapers from around the world side by side right here on your browser, thanks to a feed from the Newseum, arranged by the design company Rayogram. [%comments]



What Would Micropayments Do for Journalism? A Freakonomics Quorum

The notion of micropayments — a pay-per-click/download web model — is hardly a new one. But as a business model it hasn’t exactly caught fire, or even generated more than an occasional spark. Lately, however, the journalism community has become obsessed with the idea. This is what happens when an existing business model begins to collapse: alternative models are desperately . . .