Thursday, February 18, 2010

Newspaper Round-Up

A quick look at the good, the bad and the ugly of today's newspaper industry news:

Peter Applebome of the New York Times gives local online media some love in his look at the launch of The Connecticut Mirror and the death of Connecticut Local Politics.

Judge John S. Dalis Wednesday spent little time approving Morris Publishing Group's plans to emerge from bankruptcy protection, The owner of 13 daily newspapers including The Augusta Chronicle and Savannah Morning News, will have their debt reduced by $288.5 million from $415 million.  Having heard no objections from their creditors Morris gets a do-over.

Bad news is good news for newspapers: Lee Enterprises reported January revenue was down 9.2 percent. The company cheerfully reported that this is the first single-digital decline since 2008 (yippee) and the fifth month in a row that advertising showed improvement -- guess that's indeed good news.

The grass truly is greener . . . in China.  China New Media, the nation's largest outdoor media company, announced second quarter financial results and the highlights are that Q2 revenue increased by 89 percent, and net income rose 39 percent. That's a lot of billboards.