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Newsquest invests £40m of pension fund in hedge funds

Posted by Patrick Smith on 24 July 2008 at 09:47
Tags: Regional Newspapers

Regional newspaper company Newsquest has invested £40m - the equivalent of 10 per cent - into two hedge funds, 

Newsquest pension scheme, which like most other local newspaper companies’ schemes is closed to new members, has a deficit of around £65m. Last July Newsquest’s 9,000 staff were told they would have to increase their contributions from six to 10 per cent to receive the same pension - with the company contributing 12 per cent.

Chairman of the fund trustees David Coates said the plan was to get “superior returns” for members.

 

 

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Uxbridge Gazette web launch includes 10 hyperlocal sites

Posted by Paul McNally on 15 July 2008 at 15:36
Tags: Journalism, Online, Regional Newspapers

Trinity Mirror weekly title The Uxbridge Gazette has relaunched its website, including 10 hyperlocal community mini-sites which the paper hopes will allow journalists to gather material that can be “reverse published” into print.

In a press release, the Uxbridge Gazette editor-in-chief, Adrian Seal, said: “We are particularly excited about the new hyperlocal sites we have developed and it’s great that they are open to everyone from Scout groups to churches and schools and local residents in those areas.”

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Bad news for newspapers: Ad budgets are shrinking

Posted by Paul McNally on 14 July 2008 at 10:36
Tags: Advertising, Journalism, National Newspapers, Regional Newspapers

Advertising budgets have seen the sharpest fall since the 9/11 terrorist attacks - and the trend looks set to continue into the rest of the year.

According to MediaGuardian.co.uk, the latest Bellwether report has found businesses are slashing their ad budgets, with even digital growth slowing down considerably.

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Newsquest begins relaunch of website network

Posted by Dominic Ponsford on 8 July 2008 at 09:17
Tags: New Media, Regional Newspapers

Regional press giant Newsquest has begun a revamp of its newspapers’ websites, Holdthefrontpage reports, with thie Lancashire Telegraph, the Bradford Telegraph and Argus and The Press in York now with new looks.

The new sites are wider, to suit modern computer screens, and feature horizontal rather than vertical menu navigation.

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Trinity Mirror responds to pension fund concerns

Posted by Paul McNally on 6 July 2008 at 16:39
Tags: Media Business, Regional Newspapers

Trinity Mirror has insisted it can still afford to prop up its £1.5bn pension fund and has no plans to sell it on.

The beleaguered regional newspaper group - which issued a profit warning on Monday - has told the Times that City concerns that it is having trouble keeping up pension payments are unfounded.

Trinity Mirror’s share price fell 2.5p on Friday to 91.5p after investment bank UBS slashed its target share price and encouraged investors to sell.

Johnston Press also lost 4p, down to 31.5p as rumours abound that the group will follow Trinity Mirror and issue a profit warning in the coming weeks.

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Gilligan versus Ken - a re-match

Posted by Patrick Smith on 3 July 2008 at 08:59
Tags: Regional Newspapers

In a Press Gazette interview  in April he said he would be happy if he never wrote about Ken Livingstone ever again.

But it seems Andrew Gilligan just can’t help himself. Over two pages in the Evening Standard last night the reigning Journalist of the Year probed Livingstone’s new HQ in Manor House and the likelihood of him running for mayor again.

In a possible mellowing of relations between the pair, however, Ken took the Standard man’s call and even answered a few questions.

Will Gilligan be called into action for a series of investigations in 2012?

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Johnston Press to merge with Trinity Mirror?

Posted by Patrick Smith on 2 July 2008 at 12:25
Tags: Regional Newspapers

It may be a radical step, but some in the City are talking of a merger between two of the country’s biggest press companies, Johnston Press and Trinity Mirror, to counteract tough market conditions, the Independent reports.

ABN Amro said yesterday: “These are desperate times and they call for desperate measures: we believe a Trinity/Johnston combination makes sense.” Shareholders and management of hard-pressed companies would, ABN said, “will press for industry consolidation”.

 

 

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Trinity ad slump ‘worst since 9/11′

Posted by Patrick Smith on 1 July 2008 at 08:56
Tags: Media Business, National Newspapers, Regional Newspapers

Trinity Mirror’s advertising slump of between 12 and 14 per cent in May and June was the worst since the aftermath of the terror attacks of 11 September 2001 according to The Times. The news led shares in publisher to slump by 42.5p to 109p yesterday - a 28 per cent one-day fall.

Though chief executive Sly Bailey is confident that Trinity won’t be the last to report such figures, with Newsquest’s US owner Gannett already having reported a 14.7 per cent ad revenue drop in May.

The Times business editor David Wighton says it’s too late to “talk ourselves into a downturn”. “It looks suspiciously like we are already there”.

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Scottish FOI Act could be applied to more organisations

Posted by Martin Stabe on 30 June 2008 at 09:40
Tags: Broadcast, Freedom of Information, National Newspapers, New Media, Regional Newspapers

Journalists in Scotland could get the chance to file Freedom of Information Act requests to a wider range of bodies.

Scottish ministers are considering extending the scope of the Scottish version of the FOI Act, which applies to public bodies in Scotland, BBC News reports.

Housing associations, private finance projects and private prisons are among a number of new organsiations that could become subject to the Freedom of Information (Scotland) Act.

The UK-wide Freedom of Information Act 2000 can also be extended to further public bodies.

The Government held a consultation on extending the list of bodies subject requests filed under the Act earlier this year.

As part of that process, the Campaign For Freedom of Information called for voluntary organisations and private bodies that perform public functions, such as academy schools, housing associations, new deal communities partnerships and local strategic partnerships — to be added to the list of bodies subject to the Act.

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Subs, picture editor and reporter ‘at risk’ at City AM

Posted by Paul McNally on 30 June 2008 at 06:04
Tags: Journalism, National Newspapers, Regional Newspapers

City AM is looking to make all of its sub-editors redundant. According to the Independent on Sunday media diary, affected staff have been told they are not expected to come into work this week during the consultation period.

“I’ve been involved in launching free newspapers in 17 countries and I’ve never known them to employ subs,” says City AM managing director Jens Torpe.

A source tells the Sindy: “I don’t know how we’re going to get Monday’s paper out.”

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Why Lord Fowler’s Journalism Quality Test won’t work

Posted by Peter Kirwan on 27 June 2008 at 16:39
Tags: Broadcast, Law, Magazines, Media Business, National Newspapers, New Media, Regional Newspapers

Those of you who recall Norman Fowler as one of Prime Minister Thatcher’s more right-on colleagues will have been startled by today’s coverage of the report from the House of Lords Communications Committee.
I need to read the report, but I’m not sure that making mergers more difficult will solve what ails journalism.
If anything, it’s the [...]

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The Standard says that Brenda feels your pain. No, really. . .

Posted by Peter Kirwan on 27 June 2008 at 15:39
Tags: Media Business, National Newspapers, Regional Newspapers

Journalists and recessions don’t get on well together.
Sooner or later, a downturn becomes an exercise in standing around, waiting for things to get better. The constant drip-drip-drip of negative news is problematic. And the ebbing away of economic activity means less novelty, fewer stories, a national life lived more slowly.
For most people, the downturn is [...]

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FOI campaigner: Privacy concerns misplaced on crime map plan

Posted by Martin Stabe on 26 June 2008 at 13:16
Tags: Freedom of Information, Journalism, National Newspapers, Online, Regional Newspapers

London mayor Boris Johnson’s plan to disclose maps of crimes committed in the capital is being held up by “an unthinking, fetishistic attitude towards privacy“, freedom of information campaigner Heather Brooke argues in the Times today.

“When I was a crime reporter in America, I was able to view all police incident reports, jail booking records and every warrant signed by the magistrate. I had some privileges as a reporter, but all this information was considered to belong to the public,” she notes.

In Britain, by contrast, she has found similar data is impossible to obtain, even under the Freedom of Information Act.

Brooke notes that crime maps that hold local police to account are a fixture of local newpapers’ websites in the United States, and that a number of independent sites, like Everyblock and Spotcrime, have emerged to provide more detailed views of local crime data.

In April, the Conservative Party has pledged to introduce crime mapping in the UK, and Johnson said during his campaign for Mayor that he would begin work toward introducing the policy to London on “day one” of his administration.

The plan now has Government support. But it has also plan has faced opposition from the Royal Institute of Chartered Surveyors, who fear its effect on house prices.

More crucially, the Information Commissioner’s office has advised police that the plan could breach the Data Protection Act and violate the privacy of crime victims.

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Johnston Press rights issue raises nearly £170m

Posted by Martin Stabe on 24 June 2008 at 08:56
Tags: Media Business, Regional Newspapers

Johnston Press has raised nearly £170 million in its rights issue.

The regional newspaper publisher sold over 311 million new shares at 53p, a figure representing 97.25 per cent of the total number announced on 14 May. Underwriters Deutsche Bank are now seeking buyers for the 8.8m shares that remained at the deadline for subscriptions at 11am yesterday.

Update: Johnston Press said this morning that Deutsche Bank has found subscribers for the remaining shares at 72p per share.

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Crains Manchester Business in train give-away

Posted by Patrick Smith on 23 June 2008 at 15:17
Tags: Regional Newspapers

Crain’s Manchester Business, the weekly business newspaper, will be given away free to passengers on Virgin Trains from Monday.

All first class passengers traveling to London Euston from Manchester Piccadilly will get a complimentary copy every Monday morning.

The business weekly will also be made available to visitors to the Virgin First Class Lounge at Manchester Piccadilly.

Publisher Arthur Porter said: “We are delighted to be associated with a company such as Virgin Trains.

“It is powerful testimony to the quality editorial the Manchester business community has come to expect every week from Crain’s. It makes traveling first class on Virgin an even more attractive proposition.”
 

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Trinity Mirror renames Wales news site

Posted by Martin Stabe on 16 June 2008 at 15:32
Tags: New Media, Regional Newspapers

Trinity Mirror’s has today renamed IcWales.co.uk to WalesOnline.co.uk.

The new name for the site — which includes content from the the group’s newspapers in south Wales including the Western Mail, South Wales Echo, and Wales on Sunday — is intended to reflect the company’s ambition to provide the leading site for and about Wales, a Trinity Mirror press release said.

The group, citing Omniture figures, says the site has an audience of over 788,000 unique users per month.

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Newsquest web traffic up to 5.1 million unique users

Posted by Martin Stabe on 16 June 2008 at 13:31
Tags: New Media, Regional Newspapers

Regional newspaper group Newsquest’s network of 164 local websites attracted 5.1 million unique users and 53.7m page impressions in April, in an ABCe audit to be published later this week.

“It’s more than just growing numbers: we have broadened our reach to more local audiences by attracting a younger, more affluent crowd from higher-income households than are typical for newspaper readers,” Newsquest Digital Media managing director Roger Green said in a press release.

The figure is up from its May 2007 ABCe figure of 4.5 million unique users and 49 million page impressions. In February, Newsquest’s parent company Gannett said the UK network of sites had attracted 4.8 million monthly unique users in 2007.

Without indicating any specifics, Green also indicated that the group plans to unveil enhancements to the sites this summer which will increase interaction in print, online and mobile.

One of Newsquest’s titles, the Lancashire Telegraph, has been sending text-message breaking news alerts to mobile phones. Last wee, the paper began charging 10-12p per text message for the TLalerts service, which was initially free. The paper said the “seer popularity” of the SMS service had made the charge necessary.

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Regional Press Awards: Videos from the ceremony

Posted by Martin Stabe on 16 June 2008 at 10:30
Tags: Journalism, Regional Newspapers

The emotional standing ovation journalists gave to Huddersfield Examiner journalist Adrian Sudbury when he was announced the winner of the new Multimedia Journalist of the Year category at the Regional Press Awards is among the videos from Friday’s ceremony now available on the Regional Press Awards website.

Sudbury, who has terminal cancer and has been campaigning for sixth-from students to receive a compulsory lesson about donating organs, blood and bone-marrow, could not be at the ceremony at the Lancaster Hotel Hotel on Friday afternoon and sent a video message instead. His parents collected the award on his behalf.

Writing on Baldy’s Blog, the site he has been running to chronicle his battle against the illness for th past two years, Sudbury later dedicated the award to his sister.

The full list of winners can be found on the Press Gazette website.

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Johnston Press takeover rumours circulate

Posted by Paul McNally on 15 June 2008 at 10:07
Tags: Journalism, Media Business, Regional Newspapers

Malaysian billionaire Ananda Krishnan is rumoured to be considering a takeover bid for Johnston Press, the regional newspaper group in which he bought a 20 per cent stake last month.

Shares in Johnston Press jumped 25 per cent on Friday, but chief executive Tim Bowdler told the Daily Mail the sharp spike is more likely to be due to a proposed clampdown on short-selling instead of takeover speculation.

“Whatever speculation there might be is hypothetical and I don’t and won’t comment,” he said.

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Concern over Trinity Mirror pension fund

Posted by Paul McNally on 15 June 2008 at 10:04
Tags: Journalism, Media Business, Regional Newspapers

Trustees in the Trinity Mirror pension scheme have expressed concern about the publisher’s ability to keep up its fund payments.

According to the Sunday Times, they fear the current climate in the regional newspaper industry could have a knock-on effect on the company’s ability to pay into the fund.

Trinity Mirror topped up its pension fund by £108m last year following the sale of a number of titles, but it is still reported to have a deficit of around £46m.

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