Media Roundup: Internet Ads Down at New York Times, Congressional Quarterly For Sale and More
Internet advertising down at New York Times -- Amongst the announcement of down forth quarter, the New York Times revealed that digital advertising revenues fell 3.5 percent. Total forth quarter earnings were down 48 percent from last year. The earnings report comes as the company is taking steps to add more cash by selling its share in the Boston Red Sox and accepting a loan from Mexican billionaire Carlos Slim. [Source: Portfolio]
Times Publishing to sell Congressional Quarterly -- In an effort to refocus the company's attention to its Flordia properties, St. Petersburg-based Times Publishing is looking to sell Washington D.C.-based Congressional Quarterly. Founded in 1945, CQ covers all things political in Washington and has a loyal readership among the capital's insiders. [Source: Washington Post]
English Al Jazeera gaining popularity -- The English service of Arabic news network Al Jazeera saw a 600 percent increase in viewership. The spike is attributed to the conflict in the Middle East, where the network was one of the only news agencies with access to Gaza. According to the Associated Press, 60 percent of the new viewers were from the United States. [Source: Beet.TV]
NBC has sold 94 percent of Super Bowl ads -- Less than a week before the big game, NBC has sold all but four of its advertising slots. The space is being sold for a base rate of $3 million, slightly more than last year's $2.7 million. This year's championship game is expected to garner lower ratings than last years upset victory by the New York Giants over the undefeated New England Patriots. [Source: MediaWeek]
Amazon to release Kindle 2 February 9th -- Amazon is set to release to sequel to its popular e-reader device on February 9th. The Kindle allows users to download digital copies of books and newspapers much like an iPod enables on-the-go music consumption. Amazon's e-reader is set to receive a design refresh as well as a new chipset. The original Kindle has been sold out since Oprah Winfrey promoted it on her show, and those on the waiting list are likely to receive the new version. [Source: New York Times]
McClatchy suspends dividends -- Newspaper publisher McClatchy announced yesterday that it would cease paying quarterly dividends so it can pay off its debt. The last scheduled dividend will be April 1st. McClatchy is the first publicly traded publisher to stop paying dividends. [Source: Reuters]
MGM, Paramount, and Lionsgate team up to create movie channel -- Although currently lacking a distributor, MGM, Paramount and Lionsgate have joined to create a new premium movie channel named Epix. The brand will not only be a television channel, but a Hulu-like Web site that will allow users to subscribe and download movies. [Source: New York Times]