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BUSINESS
June 15, 2010 | By Dawn C. Chmielewski, Los Angeles Times
Rupert Murdoch's quest to find a way to get people to pay for news online continued Monday as News Corp. made two investments in digital technology that could be key to the mission. News Corp., parent of the Wall Street Journal and the New York Post as well as newspapers in Britain and Australia, bought Skiff, a maker of software that delivers information to tablets, smart phones and e-readers. The conglomerate also acquired a stake in media entrepreneur Steve Brill's Journalism Online venture, which has been developing a mechanism for newspapers and magazines to collect revenue from their online readers.
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BUSINESS
December 9, 2009 | By Alex Pham
Five major publishers -- Conde Nast Publications, Hearst Corp., Meredith Corp., News Corp. and Time Inc. -- announced Tuesday that they would join forces to develop an online storefront to rival Amazon.com Inc. The companies -- which publish such titles as Sports Illustrated, the Wall Street Journal, Better Homes and Gardens, Wired and Vanity Fair -- said their venture would sell newspapers and magazines online but could also be used to sell digital comics and books. As more readers cancel their print subscriptions in favor of browsing stories online, which has led to precipitous drops in advertising revenue, traditional media companies have been frantically experimenting with ways to deliver and make money from digital content.
BUSINESS
December 2, 2009 | By David Sarno
Escalating the battle between traditional newspapers and online news providers, media mogul Rupert Murdoch lashed out at Google Inc. and other Web companies Tuesday, accusing them of looting news articles and contributing to the industry's decline. "There are those who think they have a right to take our news content and use it for their own purposes without contributing a penny to its production," Murdoch said at a Washington forum on the future of newspapers. "Their almost wholesale misappropriation of our stories is not fair use. To be impolite, it's theft."
BUSINESS
August 21, 2009 | Dawn C. Chmielewski
As newspapers across the country struggle with declining readership and advertising revenue, News Corp. executives have been meeting in recent weeks with publishers about forming a consortium that would charge for news distributed online and on portable devices -- and potentially stem the rising tide of red ink. Chief Digital Officer Jonathan Miller has positioned News Corp. as a logical leader in the effort to start collecting fees from online readers because of its success with the Wall Street Journal Online, which boasts more than 1 million paying subscribers.
CALIFORNIA | LOCAL
March 4, 2009 | Steve Chawkins
Phoebe Hearst Cooke is a noted horsewoman and philanthropist. She owns two ranches in San Luis Obispo County, and with assets between $1.5 billion and $2 billion, she is a fixture on the Forbes list of America's wealthiest people. She also is at the center of legal actions filed by relatives who contend the 81-year-old granddaughter of publishing legend William Randolph Hearst no longer has the capacity to manage her own affairs.
BUSINESS
February 25, 2009 | Bloomberg News
Hearst Corp. said Tuesday that it would sell or close the San Francisco Chronicle, the second newspaper the company has put on the block this year, after the publication lost more than $50 million in 2008. Hearst plans to cut a "significant" number of jobs at the newspaper, the New York-based publisher said. Hearst said Jan. 9 that it may close the Seattle Post-Intelligencer, which lost $14 million last year, if it cannot find a buyer by March.
BUSINESS
January 24, 2008
Hearst Newspapers promoted Phil Bronstein, editor of its San Francisco Chronicle, to editor at large, giving him a bigger role at the newspaper chain. Bronstein will take on strategic responsibility for the Chronicle and for its closely held owner, Hearst Corp., the New York-based company said. A successor will be named shortly, the company said. Bronstein, 57, said he needed a change after spending 17 years as an editor, first at the Hearst-owned San Francisco Examiner and then at the Chronicle after Hearst bought that paper in a deal completed in 2000.
BUSINESS
December 7, 2007 | From Times Wire Services
Hearst Corp. said it would boost its investment in Hearst-Argyle Television Inc. to as much as 82%, less than two months after dropping a plan to buy out minority investors. The purchase of as many as 8 million additional shares will allow Hearst Corp. to consolidate results of Hearst-Argyle for U.S. income tax, New York-based Hearst-Argyle said in a regulatory filing. As of Wednesday, Hearst Corp. owned a 74% stake.
BUSINESS
December 7, 2007 | From Times Wire Services
Chevron Corp. said it would raise capital spending 15% next year to $22.9 billion, making its most costly push ever to lift output after crude prices climbed near $100 a barrel. The spending plan includes an estimated $17.5 billion for oil and natural gas production and $4.1 billion for refining, San Ramon, Calif.-based Chevron said.
BUSINESS
October 26, 2007 | From Times Staff and Wire Reports
Tribune Co. agreed to sell two Connecticut newspapers to Hearst Corp. for $62.4 million, less than Gannett Co. had planned to pay for them before canceling the deal in May. The Stamford Advocate and Greenwich Time will be managed by Denver-based MediaNews Group Inc. in a joint venture with Hearst, said Chicago-based Tribune, also parent of the Los Angeles Times. Connecticut Atty. Gen. Richard Blumenthal said his office planned to investigate the sale to see if it violates antitrust laws.
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