Showing posts with label Newspaper. Show all posts
Showing posts with label Newspaper. Show all posts

Friday, August 7, 2020

‘Industry under siege’: Virus hastens newspapers’ slide into shaky digital future


PARIS - The coronavirus crisis has weighed heavily on print newspapers already battling for survival around the world, with the number of copies sold tumbling while less profitable digital readerships surge.

Simply delivering printed papers to the shops -- or having customers come in to buy them -- has become a challenge, worsening a years-long decline in sales and advertising revenue.

"Consumption of printed newspapers has fallen as lockdowns undermine physical distribution, almost certainly accelerating the shift to an all-digital future," the Reuters Institute's 2020 annual report said.

Major dailies in Brazil and Mexico have already switched to online-only or dropped some days' editions, while in the Philippines 10 of the 70 newspapers in the PPI association have shuttered.

"Times are hard. There are no advertisers and no-one is reading us," PPI executive director Ariel Sebellino told AFP.

The archipelago nation's small local newspapers were hardest hit during lockdown as street sales tumbled.

"The industry is under siege and we've all taken bruises," Sebellino said.

Far from affecting only journalists, the disappearance of print papers deals out pain all up the production chain, taking in printers, paper makers and delivery people.

Major British media brands could boast of 6.6 million new online readers in the first quarter in what their industry association said was a new record.

But most have not seen the same bounce in print sales.

The coronavirus has become "the greatest threat to the global news industry since the 2008 economic crash" wrote industry publication Press Gazette -- which itself moved online-only in 2013.

Between 2005 and 2018, some 250 local papers closed across Britain, while today one in three journalists' jobs are believed to be under threat.

Fond memory 

The picture is similar in the US, where dozens of papers have closed or merged with local competitors since the crisis.

Between 2008 and 2019, half of all workers in American newspapers lost their jobs, according to a Pew institute count.

Around the world, audiences have melted away for the free sheets once handed out in busy urban centres.

Unable to count on funding from advertisers, some have paused publication, including Metro or Destak in Brazil or France's 20 Minutes.

With its ageing population used to holding a paper in their hands, Germany's newspaper publishers "were all making money before the coronavirus crisis, even if circulation figures kept falling," said Frank Ueberall, president of the DJV journalists' federation.

"Things are different now," but "text journalism still has good days ahead," Ueberall said.

"Old people in particular are far from adopting digital technologies en masse."

"Printing is expensive, but it's swings and roundabouts," said Gilles Dechamps, head of a printing company in northern Paris, arguing that "it's important for readers and for advertisers to have the landmark" of a printed paper".

Despite efforts like cutting their size to save paper or investing in the web over the past 30 years, few papers have found the winning formula to make money from 21st-Century journalism.

"Even in the smallest markets, Facebook and Google syphon three-quarters of the digital revenue," said Penelope Abernathy, a former Wall Street Journal and New York Times vice-president who now teaches media economics at the University of North Carolina.

"That leaves all other legacy media fighting for the digital scraps."

Strong brands like the NYT may survive the transition, with the Grey Lady's digital revenues outstripping paper for the first time in the second quarter this year.

But the smaller fish may have to continue reducing their output and hiking prices to survive, with successful new magazine launches in recent years mostly targeting a niche audience.

"Print will survive in some form," Abernathy predicted, although likely more in weekly and monthly options than daily.

"The era of the print daily will be remembered fondly. The whole notion was capturing the history of the last 24 hours," she said.

Agence France-Presse

Sunday, February 16, 2020

Treat us like something between a telco, newspaper: Facebook's Zuckerberg


MUNICH - Online content should be regulated with a system somewhere between the existing rules used for the telecoms and media industries, Facebook CEO Mark Zuckerberg told global leaders and security chiefs on Saturday.

Speaking at the Munich Security Conference in Germany, Zuckerberg said Facebook had improved its work countering online election interference, and expanded on his previous calls for regulation of social media firms.

"I do think that there should be regulation on harmful content ... there's a question about which framework you use for this," Zuckerberg said during a question and answer session.

"Right now there are two frameworks that I think people have for existing industries - there's like newspapers and existing media, and then there's the telco-type model, which is 'the data just flows through you', but you're not going to hold a telco responsible if someone says something harmful on a phone line."

"I actually think where we should be is somewhere in between," he said.

Facebook and social media giants including Twitter and Alphabet's Google have come under increasing pressure to better combat governments and political groups using their platforms to spread false and misleading information.

Zuckerberg said he now employed 35,000 people to review online content and implement security measures.

Those teams and Facebook's automated technology currently suspend more than 1 million fake accounts each day, he said, adding that "the vast majority are detected within minutes of signing up."

"Our budget is bigger today than the whole revenue of the company when we went public in 2012, when we had a billion users," he said.

"I'm proud of the results but we will definitely have to stay vigilant."

source: news.abs-cbn.com

Tuesday, November 12, 2019

Financial Times names first woman top editor


For the first time in its long history, The Financial Times will be led by a woman.

On Tuesday, the daily known for its robust coverage of international markets, its distinctive salmon-hued paper and its impenetrable digital paywall, announced that Roula Khalaf will be its top editor, starting in January. Khalaf, a 24-year veteran of the newspaper, which has its headquarters in London, will succeed Lionel Barber, a Financial Times journalist since the 1980s and its editor since 2005.

Barber, 64, said in an interview Tuesday that he had consulted with the newspaper’s owners about a transition for more than a year. “You mustn’t see this as some kind of ‘woke’ gesture — it’s got nothing to do with that,” he said. “She is one of our most outstanding journalists. She’s been deputy editor for 4 years, she’s been tested in all sorts of areas, and that’s why she’s the next editor.”

The newspaper, which was founded in 1888 and has a paid circulation of 1 million, including digital and print subscribers, declined to make Khalaf available for an interview. In a statement Tuesday, she said, “It’s a great honor to be appointed editor of The FT, the greatest news organization in the world.”

Born and raised in Beirut, Lebanon, and educated in the United States at Syracuse University and Columbia University, Khalaf has served as the publication’s Middle East editor, foreign editor and deputy editor. Before joining The Financial Times, she wrote for Forbes magazine, where she made waves with a feature article on Jordan Belfort, the shady stockbroker who became known as the wolf in Martin Scorsese’s 2013 film, “The Wolf of Wall Street.” A character based on Khalaf appears in the movie.

Khalaf returned to the subject of Belfort in a 2014 Financial Times article, writing, “I am the journalist who in the movie wrote the 1991 ‘hatchet job’ on Belfort and his respectably named but disreputable Stratton Oakmont outfit. My character — I was a Forbes reporter when I wrote the profile — gets a few seconds’ play, followed by a scene in which Belfort is infuriated by my story. I had described him as sounding like a twisted version of Robin Hood who takes from the rich and gives to himself and his merry band of brokers. That was rather charitable since he was also probably fleecing widows and orphans.”

During his 14-year tenure as top editor, Barber guided the newspaper through a decline in the industry, as well as its sale four years ago from Pearson, the British media company, to Nikkei, the Japanese financial news publisher, for $1.3 billion.

He noted that he had traveled in the Middle East with Khalaf, interviewing the Iranian president, Hassan Rouhani, in 2013 and, in 2015, visiting Mohammed bin Salman, then Saudi Arabia’s deputy crown prince.

Barber’s legacy will include presiding over the newspaper as it reoriented its business model to be focused on circulation revenue — subscribers paying for access. Many legacy media news organizations, including The New York Times, have made this move in recent years. The Financial Times was among the pioneers, instituting an online paywall as early as 2007.

“We said, ‘We’re going to charge for content,’” Barber said. “By saying that, and also raising prices, that was a message to the outside market that we’re worth it. But it was also an incredibly powerful message to the newsroom: ‘Now we’re really going to have to be the very best.’”


2019 The New York Times Company

source: news.abs-cbn.com

Wednesday, June 12, 2019

Media sector seeks new powers to challenge Big Tech


WASHINGTON -- Big Tech firms are clobbering traditional news organizations, media representatives told lawmakers Tuesday, asking for new authority to allow the struggling sector to team up against online platforms.

The comments came as the House Judiciary Committee opened the first in what is expected to be a series of hearings examining the dominance of Big Tech in several economic sectors.

Tuesday's hearing sought to focus on the plight of news organizations, which have struggled to keep up with the dominance of Facebook and Google in online advertising.

"In effect, a couple of dominant tech platforms are acting as regulators of the digital news industry," said David Chavern of the News Media Alliance, previously known as the Newspaper Association of America.

"The result of the tech platforms' regulation of the news industry has been to siphon revenue away from news organizations."

But Chavern said that rather than push for a breakup, Congress should pass a law giving the media sector its own antitrust exemption to better compete with Big Tech.

He cited the proposed Journalism Competition and Preservation Act as "an innovative, market-oriented solution" to the problem.

"Markets work best when different parties can negotiate with one another on reasonably even footing -- and where both parties have some leverage to credibly withdraw from negotiations if the other side demands unreasonable or exploitative terms," he said.

The bill "helps remedy this imbalance by allowing news organizations to bargain collectively against dominant tech platforms."

David Pitofsky, general counsel at News Corp, which publishes the Wall Street Journal, offered similar remarks.

"If publishers could band together they might be able to use their collective leverage to bring the platforms to the negotiating table. But doing so is made impossible by the antitrust laws," Pitofsky said.

Pitofsky said he was hopeful for "reinvigorated antitrust enforcement" but noted that this would "require years of investigation and litigation."

"In the interim, news publishers need a fighting chance. The Journalism Competition and Preservation Act is well-designed to help restore the proper balance between content generators and content distributors."

Gene Kimmelman of the consumer group Public Knowledge said the news sector's woes were deep but should be resolved through market forces.

"We do not believe this problem will be solved by allowing more consolidation of power, whether among platforms or media," Kimmelman said.

"And we believe exceptions to the antitrust laws should be a tool of last resort, if they are ever used. Enabling excess market power to challenge the existing dominant platforms does nothing to address the long term need to develop market forces that promote strong local journalism."

source: news.abs-cbn.com

Saturday, June 30, 2018

Man denied bail in U.S. newsroom rampage that killed 5


ANNAPOLIS - A Maryland man charged with rampaging through a newsroom in Annapolis with a pump-action shotgun and killing five people was denied bail on Friday after one of the deadliest attacks on journalists in U.S. history.

Jarrod Ramos, 38, from Laurel, 25 miles (40 km) west of Annapolis, is not cooperating with investigators, authorities said, and did not speak as he appeared by video link from a detention facility for a brief court hearing at Anne Arundel County criminal court.

Ramos had a longstanding grudge against the newspaper that was targeted and unsuccessfully sued it for defamation in 2012 over an article that reported how he harassed a former high school classmate, court records showed.

He is accused of entering the Capital Gazette office on Thursday afternoon and opening fire through a glass door, hunting for victims and spraying the newsroom with gunfire as reporters hid under their desks and begged for help on social media. Prosecutors said he barricaded a back door to stop people from fleeing.

"The fellow was there to kill as many people as he could," Anne Arundel County Police Chief Timothy Altomare told a news conference, adding that the suspect was identified using facial-recognition technology.

Altomare said evidence found at the suspect's home showed he planned the attack, and that the pump-action 12 gauge shotgun used by the shooter was legally purchased about a year ago.

Rob Hiaasen, 59, Wendi Winters, 65, Rebecca Smith, 34, Gerald Fischman, 61, and John McNamara were shot and killed. All were journalists except for Smith who was a sales assistant, police said. Hiaasen was the brother of best-selling author Carl Hiaasen.

The Capital newspaper, part of the Gazette group, published an edition on Friday with photographs of each of the victims and a headline "5 shot dead at The Capital" on its front page.

The newspaper's editors left the editorial page blank with a note saying that they were speechless.

Photographs that were widely shared on social media showed newspaper staffers working on laptops in a parking garage to produce Friday's edition while they waited to learn the fate of colleagues after the shooting.

'LIKE A WAR ZONE'

Annapolis Mayor Gavin Buckley said he was so proud of the journalists who had "soldiered on."

"These guys, they don't make a lot of money. They do journalism because they love what they do. And they got a newspaper out today," Buckley told Fox News.

A vigil for the victims was planned for 8:00 p.m. EDT on Friday. Maryland Governor Larry Hogan ordered state flags to be lowered to half-staff.

Ramos brought a defamation lawsuit in 2012 against Eric Hartley, a former staff writer and columnist with Capital Gazette, and Thomas Marquardt, then its editor and publisher, a court filing showed.

Neither Hartley nor Marquardt is still employed by the paper or were at its office on Thursday.

An article by Hartley had contended that Ramos had harassed a woman on Facebook and that he had pleaded guilty to criminal harassment, according to a legal document.

The court agreed the article was accurate and based on public records, the document showed. In 2015 Maryland's second-highest court upheld the ruling, rejecting Ramos's suit.

Ramos tweeted at the time that he had set up a Twitter account to defend himself, and wrote in his biographical notes that he was suing people in Anne Arundel County and "making corpses of corrupt careers and corporate entities."

According to a WBAL-TV reporter who said she spoke with the woman who was harassed, Ramos became "fixated" with her for no apparent reason, causing her to move three times, change her name, and sleep with a gun.

Phil Davis, a Capital Gazette crime reporter, recounted how he was hiding under his desk along with other newspaper employees when the shooter stopped firing, the Capital Gazette reported on its website.

The newsroom looked "like a war zone," he told the Baltimore Sun. "I don't know why he stopped."

Authorities responded to the scene within a minute of the shooting, and Ramos was arrested while also hiding under a desk with the shotgun on the floor nearby, police said.

He will face either a preliminary court hearing or grand jury indictment within the next 30 days.

Capital Gazette runs several newspapers out of its Annapolis office. They include one of the oldest newspapers in the United States, The Gazette, which traces its origins back to 1727.

source: news.abs-cbn.com

Wednesday, February 28, 2018

New York Times preparing weekly TV show


NEW YORK - The New York Times is preparing a weekly news television show, the latest effort to broaden the audience for the big US daily.

The newspaper confirmed Tuesday it is in talks with cable channels and online platforms on which the planned 30-minute show could run, according to Sam Dolnick, an assistant managing editor.

No specific timetable was announced for the show, which is expected to showcase the New York-based daily's investigations and reporting.

A number of Times journalists are expected to participate in the project, according to CNN, which first reported the plans.

The Times, which already streams its own podcasts, would not be the first newspaper to venture into television.

In 1988, USA Today launched a daily television news broadcast that was pulled after 14 months.

Newer online services like Vice combine traditional news with television, including an HBO show called "Vice News Tonight."

The Times has been transitioning increasingly to digital as more readers turn away from print.

In its latest quarterly update, the Times said it added 157,000 net digital subscriptions in the final three months of the year, which pushed subscription revenue for the full year to more than $1 billion.

source: news.abs-cbn.com

Friday, December 15, 2017

NY Times publisher stepping down, handing over to son


New York Times publisher Arthur Ochs Sulzberger Jr announced on Thursday that he was stepping down after 25 years at the helm of the renowned newspaper and handing over to his son.

Arthur Gregg Sulzberger, 37, known as A.G., will take over as publisher on January 1, 2018, the New York Times Co. said in a statement.

A.G. Sulzberger will be the sixth member of the Ochs-Sulzberger family to serve as publisher since Adolph Ochs bought the newspaper in 1896.

Arthur Ochs Sulzberger, 66, who took over as publisher in 1992, will remain as chairman of the board of directors of the company, the Times said.

"This isn't a goodbye," Arthur Sulzberger said in a note to Times staff. "But, beginning in the new year, the grand ship that is The Times will be A.G.'s to steer."

Arthur Sulzberger said he was stepping down "prouder than I have ever been of the strength, independence and integrity of this institution."

A.G. Sulzberger praised his father's tenure, saying he had made "bold bets" which included "embracing the Internet."

"Arthur is the only publisher of his generation who took over a great news organization and left it better than he found it," he said.

"My focus as publisher will be on ensuring the continued journalistic excellence and commercial success of The Times through a period of transformation for the news industry," he added.

The Times, which President Donald Trump considers a nemesis and frequently derides as "failing," announced recently that it now has a record 3.5 million paid subscribers, both digital and print.

A.G. Sulzberger, a graduate of Brown University, worked as a reporter at The Providence Journal in Rhode Island and The Oregonian before joining the metro desk of the Times in 2009.

He notably authored the newspaper's 2014 Innovation Report, which looked at ways to grow the online audience in an era of shrinking print sales and advertising.

source: news.abs-cbn.com

Thursday, March 30, 2017

What NY Times says on Palace's 'demolition job' claim vs Duterte


The producer of the New York Times documentary that is critical of President Rodrigo Duterte's war on drugs denies the newspaper is part of a conspiracy to topple the Duterte administration. - The World Tonight, ANC, March 29, 2017

source: news.abs-cbn.com

Thursday, February 19, 2015

Why Japan's top business newspaper is drawing foreign complaints


TOKYO - Every morning, Japan's most-influential business daily, the Nikkei, supplies its three million readers with a host of market-moving news -- from earnings to acquisitions -- with crystal ball like accuracy.

Stocks rise and fall on the Nikkei's reports about Japan Inc., which are treated like gospel when trading on the world's second-biggest equities market.

But the consistently on-the-mark news has riled overseas investors, who say it gives their Japanese counterparts an unfair home advantage being many time zones ahead, and sparked calls for changes in legislation to provide a level playing field.

When the Nikkei's unsourced reports say Toyota is going to triple production of fuel-cell cars, Sony will cut 1,000 jobs, or that Skymark Airlines is going bust, investors pounce on the news as though it came from the companies themselves.

And weeks before firms report their quarterly financial results, the Nikkei rolls out figures that are so accurate they often beat analysts' forecasts.

A predictable pattern follows: companies deny supplying the information or reject it outright, and say "it's not something we've announced", only to confirm it days, weeks or months later.

Skeptics are convinced it could only be insiders providing such accurate information, a practice that is far more rare in other major markets such as New York or London.

An earlier analysis by Bloomberg News, which competes with the Nikkei, found that of 45 articles analysed that contained profit figures that preceded the formal release of results, 37 gave a number that was within 10 percent of the company’s result, or predicted a range that turned out to be correct.

They beat analysts’ estimates in 61 percent of cases.

"If the articles are wrong, investors are surprised and wonder why, but they don’t doubt the stories in general,” Makoto Kikuchi, chief executive officer at Myojo Asset Management, told Bloomberg.

“When they’re wrong, it may be because the information from the company is old, or the person leaking it didn't have all the info.”

'Newspaper of record'

In response to questions about the Nikkei's astonishing accuracy, the paper told AFP that "we don't reveal how we investigate stories".

For its part, the Tokyo Stock Exchange says it is powerless to do anything unless there is proof of insider trading.

"All we can do is to ask companies to make (information) public as soon as possible," said a bourse spokesman.

Other media are left bemused about where the Nikkei got its information while US and European investors complain it leaves them out in the cold, unable to immediately access the Japanese-language breaking news -- despite more than half of Tokyo's trading being done by foreigners.

"But nobody here seems to think it's a bad thing," says Nicholas Smith, a Japan strategist for brokerage CLSA, who calls the Nikkei reports a "pervasive and perennial problem".

He said the practice was not likely to disappear, even as it does little to bolster the case for investing in Japanese firms.

"The (regulators) should strengthen the legislation around fair disclosure and it has to be rigorously enforced.

"Japan has never managed to create a market culture -- and there is still a lot of suspicion about how (the market) functions."

Rules about firms disseminating information as widely as possible only date from 1999 in Japan, and a former chief of a large firm said companies sometimes confirm information collected by an army of Nikkei reporters, who hold regular meetings with company executives.

"This is THE newspaper of record so giving the information isn't considered a leak," he said.

The practice remains in place despite Prime Minister Shinzo Abe's attempts to lure more foreign investors as part of a wider bid to kickstart Japan's long-tepid economy.

Among the measures is a pledge to shake up the country's governance standards, including mandating that more independent directors sit on companies' boards.

source: www.abs-cbnnews.com

Wednesday, January 14, 2015

I want Charlie: French rush to buy 'survivors' issue'


PARIS, France - "Are there any Charlies here?" asked one breathless Parisian after the other at newsstands across the city Wednesday as they chased down copies of the satirical magazine's first edition since a jihadist attack decimated its editorial staff.

Most of them were left disappointed as the first delivery of what Charlie Hebdo has called the "survivors' issue" flew off the shelves in just minutes.

Catherine Boniface, 58, a doctor, tried several kiosks by the time she arrived at one in eastern Paris where the vendor said he had sold out all 150 copies of the magazine within 10 minutes.

"I am a little disappointed. This issue is symbolic, it represents their persistance, they didn't yield in the face of" terror, said Boniface, who is not a regular reader of the weekly.

Researcher Pierre Asselin and his actor friend Eric gave up after their third attempt.

"We will try again tomorrow," said Asselin, as a girl rushing past to the metro station interrupted and asked: "Are there any Charlies here?"

"No", Pierre and Eric say in unison. "Argh" the girl said, rushing away.

It was a week ago that the satirical magazine, known for lampooning religions and angering Muslims by printing images of the Prophet Mohammed, came under attack.

Two black-clad gunmen wielding Kalashnikovs burst into Charlie Hebdo's editorial meeting at its Paris officies, spraying bullets in an attack that left a total of 12 people dead.

It was the start of three days of terror that gripped Paris as police hunted the gunmen, and an accomplice to the killers emerged, gunning down a policewoman before taking hostages at a Jewish supermarket where another four died.

- 'A way to show support' -

To many French people, like teacher Jan Stragier, 33, buying the magazine is "a way to show support, it is a historical edition."

The weekly, which was struggling to sell its 60,000 copies a week ago, has launched an extended print run that will eventually total five million copies.

"It was incredible. I had a queue of 60-70 people waiting for me when I opened," said a woman working at a newspaper kiosk in Paris.

"I've never seen anything like it."

The new issue features a cartoon of the Prophet Mohammed on its cover, holding a "Je Suis Charlie" sign under the headline "All is forgiven".

It has angered Muslim groups in some countries that oppose depictions of Islam's founder, while the Islamic State group said it was an "extremely stupid" act.

"Our Mohammed is above all just a guy who is crying," said cartoonist Luz, who designed the new front cover. "He is much nicer than the one followed by the gunmen."

New copies are expected to reach newsstands across France in the coming days.

Anne, 45, was also left empty handed, but says she is not too disappointed.

"I am happy, it means it is successful," she said.

source: www.abs-cbnnews.com

Wednesday, August 28, 2013

Aussie paper calls Manila 'awful' but a must-see


MANILA – An Australian newspaper included Manila in its list of “awful” cities but still encouraged its readers to visit the Philippine capital.

In a cheeky article entitled “Ten 'awful' cities you should still visit” published by The Age on Tuesday, writer David Whitley noted that some cities “get repeated reputation trashing that’s not entirely warranted” and went on to list 10 cities that "aren’t quite as grim as you might imagine."


The list, which also includes three American cities – Detroit, Baltimore and Pittsburgh – “may be bywords for crime, industrial bleakness or urban decay, but they do have something about them that makes them worth casting aside the prejudices for,” Whitley wrote.

About Manila, Whitley noted that even Filipinos admit that the capital is “a chaotic, disjointed mess.”

“But it has a passionate boisterousness missing from other South-East Asian cities – the garish jeepneys and wall-to-wall karaoke bars are the best examples of this,” he wrote about Manila, which was also criticized by American author Dan Brown as the “gates of hell” in his latest novel “Inferno.”

Nonetheless, Whitley recommended to the readers of The Age three “remarkable attractions” should they make a trip to Manila.

On top of Whitley’s list is the walled city of Intramuros, which he noted is “full of old churches and surrounded by a highly bizarre golf course.”

He also recommended a trip to the Ayala Museum in Makati for a “note-perfect trawl through the fascinating and unique history of the Philippines.”



Whitley said tourists must not also miss the American Cemetery and Memorial at the Bonifacio Global City, which he noted is the largest war cemetery in the world.

“The sweeping rows of graves marked with crosses and Jewish stars have a memorably humbling effect,” Whitley wrote.

The other “awful” yet must-see cities in The Age’s list are: Bogota in Colombia, Downtown Johannesburg in South Africa, Belgrade in Serbia, The Ruhr in Germany, Beirut in Lebanon and Kingston in Jamaica.

source: www.abs-cbnnews.com

Tuesday, August 6, 2013

Amazon founder Bezos to buy the Washington Post


Amazon.com Inc founder Jeff Bezos will buy the Washington Post newspaper for $250 million in a surprise deal that ends the Graham family's 80-year ownership and hands one of the country's most influential publications to the tech entrepreneur.

Bezos, hailed by many as a visionary who helped transform Internet retail, called his acquisition a personal endeavor and reassured Post employees and readers he will preserve the paper's journalistic tradition, while driving innovation.

The acquisition, the latest in a flurry of recent media deals including the New York Times Co's sale of the Boston Globe for $70 million, is a further indication of the unprecedented challenges newspapers face as advertising revenue and readership decline.

Shares of the Washington Post Co climbed more than 5 percent to $599.85 after hours - their highest level in almost five years.

"I understand the critical role the Post plays in Washington, DC and our nation, and the Post's values will not change," Bezos said in a letter addressed to employees and published on the newspaper's website.

"There will of course be change at the Post over the coming years. That's essential and would have happened with or without new ownership," he added. "We will need to invent, which means we will need to experiment."

Bezos, who has built Seattle-based Amazon.com into a shopping and online technology force over the last two decades, made a small foray into media earlier this year with a small investment in Internet news site Business Insider.

The Washington Post, home to journalists as the "Watergate" team of Bob Woodward and Carl Bernstein, is among the rapidly dwindling number of U.S. newspapers with a profitable business - a function of the rapid migration of readers to Internet and other digital media sources.

Warren Buffett owns a slice of its parent company, Washington Post Co, whose operating income has plummeted almost 40 percent since 2008, to $146.2 million in 2012.

"I doubt it is a financially oriented investment for him as much as a chance to play a more important role as a steward of an important public trust/asset," said James Barksdale, President of Atlanta investment firm Equity Investment Corp.

Barksdale said his firm did not own Washington Post shares because he thought they traded higher than he thought justified, "probably due to the Buffett halo," he added.

Bezos will buy the Post along with other newspaper assets from the Washington Post Co. Amazon.com is to be kept separate from the Post deal, according to the Washington Post.

The deal, which caught many industry watchers by surprise, was arranged in private by Allen & Co. It comes on the heels of near-unprecedented media deal activity this year, with the Globe transaction announced just over the weekend, the Tribune Co hiving off its publishing and broadcasting businesses and the Los Angeles Times reportedly up for sale.

GRAHAM FAMILY RELINQUISH THEIR CLAIM

Washington Post Chairman and Chief Executive Donald E. Graham, whose family owns the paper, explained his decision to part ways with the publication, which will continue to be headed on a daily basis by CEO Katharine Weymouth.

"As the newspaper business continued to bring up questions to which we have no answers, Katharine and I began to ask ourselves if our small public company was still the best home for the newspaper. Our revenues had declined seven years in a row," Graham said in his letter to employees.

"Jeff Bezos' proven technology and business genius, his long-term approach and his personal decency make him a uniquely good new owner for the Post."

The transaction covers The Washington Post and other publishing businesses, including the Express newspaper, The Gazette Newspapers, Southern Maryland Newspapers, Fairfax County Times, El Tiempo Latino and Greater Washington Publishing.

Bezos is the world's 19th richest person with a fortune of $25.2 billion, according to Forbes magazine. His other major personal project is called Blue Origin, which aims to be one of the first non-government funded ventures to send people and cargo into space, potentially winning lucrative contracts that were once fulfilled by NASA.

Bezos has already spent millions of dollars on this project, with millions more in the pipeline.

He did not elaborate in great detail on his motivations behind his latest deal on Monday. But in 2009, when asked at the debut of the Kindle 2 whether the electronic-reader could help print media, Bezos said he thought there were "genuine opportunities" to save journalism.

"And we're excited about helping with that," he added, according to the International Herald Tribune.

source: www.abs-cbnnews.com

Thursday, March 28, 2013

Hackers deface IT site of Manila Bulletin


MANILA – Hackers claiming to be members of “Anonymous” defaced the information technology section of Manila Bulletin’s website on Thursday.

The hackers defaced the whole section, leaving a message for “fake anons,” or those who use the handle “Anonoymous” for their own gain.

“It may already have come to your attention the issue about those fake anons who, for themselves use the handle anonymous for their own individual purpose. You may also already know about the fast-spreading Operation called #OpFakeAnons,” the message read.

“#OpFakeAnons will eliminate those who hack and use the handle of 'Anonymous' for their own gain. WE Will DEFAME you. We will DIRTY your name. We will end your 'Hey-Look-I-Hacked-A-Website-I'm-A-Star' era. For those self-proclaimed hacking groups bragging the name of anonymous are fake,” the group added.

The message also contained Facebook links to pages of other hacker groups.

source: abs-cbnnews.com

Sunday, May 6, 2012

L.A. Times, other newspapers honored at journalism awards


The Los Angeles Times won newspaper of the year for 2011 at the California Newspaper Assn.'s annual Better Newspaper Contest.
The Times won first-place awards among newspapers with circulations of 150,000 or more in the following categories: local government coverage, investigative reporting, sports, and arts and entertainment. The paper also received second prize for design and general excellence in the contest sponsored by the California Newspaper Publishers Assn., a nonprofit trade group.
"It's an honor for The Times to be recognized and also to see all the incredible journalism being done by news organizations across the state," Times Editor Davan Maharaj said.

Maharaj singled out Times legal counsel Karlene Goller, who has been recognized by the CNPA for her work in press rights and public access. "So much of our best journalism we do is possible because Karlene fights for access and openness of public institutions," he said.

The San Jose Mercury News won first place for general excellence and local breaking news. The Contra Costa Times took the top prize for its coverage of the environment, while the Sacramento Bee won first place in the category of business, financial or economic news.

Other winners included the Press-Enterprise of Riverside, which took home 13 prizes in the 25,00 to 150,000 circulation category, and the Mercury News, which won 11 awards in all.

The Times was awarded the inaugural newspaper of the year award, which was based on a point system.

The annual contest is designed to judge papers of similar size against one another in various categories, such as local breaking news and photography. More than 3,000 entries are received each year.

Winners of the 2011 awards were announced during a luncheon at the association's annual summit in San Jose.

source: latimes.com