Hours after Tribune Co. CEO Sam Zell told
reporters at his newspapers that job cuts and content reduction are his only option, New York Times Co. president and CEO Janet Robinson announced
that the company's second quarter profit dropped 82% from last year, when the company sold its television stations. Excluding the sale, the Times Co. saw a 5.5% drop. Robinson also told
analysts that the New York Times
will raise its daily newsstand price to $1.50, effective
Aug. 18, while its Sunday price will stay $4 in New York and $5 in the rest of the country. Robinson also pointed out
that the Times
saw 2% growth in circulation revenue and a 40% jump from last year in the number of unique online Web visitors. The newspaper also lost
assistant managing editor William Schmidt, who was named editor of the International Herald Tribune
. In other bad news for newspapers, EW Scripps announced
its second quarter profit fell 48%.
Also in the media glare:
Jezebel founding editor Moe Tkacik jumps
to RadarOnline.com, then jumps
back to Gawker.
NBC Universal, Fox News Channel, and Fox Television stations sue
After a Nas-led protest
outside News Corp. headquarters, Bill O'Reilly issues a challenge
to prove the network's coverage is, indeed, racist.
US Route 20, which runs near the Buffalo Bills' home field, is renamed
for avid fan