Posts tagged with ‘print’

Business News, August 2014 Edition
Buzzfeed, which gets about 150 million of us to visit each month, just closed a $50 million round with Andreessen Horowitz, the prominent technology venture firm.
Chris Dixon, general partner at the VC firm, says Buzzfeed is a “full stack" startup, meaning that it’s not just an online publisher, but rather an online publisher with integrated end-to-end technologies.
In this case, a media stack on which listicles and in-depth reporting can co-exist side by side, driven by a modern content management system, integrated analytics and ad serving engines, and a 75 person team creating “native content” for advertisers. It’s repetitive to say Buzzfeed also gets the social thing. About 75% of Buzzfeed’s traffic comes from social media.
What, fundamentally, makes this an interesting investment to Dixon? A mastery of social, mobile, content and tech:

Many of today’s great media companies were built on top of emerging technologies. Examples include Time Inc. which was built on color printing, CBS which was built on radio, and Viacom which was built on cable TV. We’re presently in the midst of a major technological shift in which, increasingly, news and entertainment are being distributed on social networks and consumed on mobile devices. We believe BuzzFeed will emerge from this period as a preeminent media company.

Meantime, legacy media companies are dropping their print publications. “Divestiture" is the name of the 2014 game. Three companies built on print — Ganett, the Tribune Company, and EW Scripps — are focusing on television, radio and the Internet, and spinning off their print properties to survive as independent companies that sink or swim as the tides may turn.
Says The New York Times’ David Carr:

The persistent financial demands of Wall Street have trumped the informational needs of Main Street. For decades, investors wanted newspaper companies to become bigger and diversify, so they bought more newspapers and developed television divisions. Now print is too much of a drag on earnings, so media companies are dividing back up and print is being kicked to the curb.

The news behind the news, of course, is that already reeling smaller, regional papers will increasingly vanish without the financial buffer provided by being part of larger diversified companies. This, despite the fact that 72% of Americans follow local news via these same print publications. Then again, many outside the news media bubble don’t know about the financial disruption that’s churned the industry over the last decade.
Via last year’s Pew State of the Media Report:

[T]he majority of people surveyed early this year had heard little or nothing about the financial problems besetting news organizations. The largest group of respondents—36%—said they heard “nothing at all” about the issue and the second largest—24%—said they heard “a little.”

So where goes print?
As news of the $50 million Buzzfeed round pinged about the Internet, a quieter profile of Harper’s publisher John MacArthur hit the Web. In it, he doubles down on print:

The web is bad for writers, [MacArthur] said, who are too exhausted by the pace of an endless news cycle to write poised, reflective stories and who are paid peanuts if they do. It’s bad for publishers, who have lost advertising revenue to Google and Facebook and will never make enough from a free model to sustain great writing. And it’s bad for readers, who cannot absorb information well on devices that buzz, flash and generally distract.
He does not want to explore many of the new revenue streams favored by other publishers — like Monocle, which has stores and a radio station. He will not let advertisers sponsor a section of the magazine, let alone place native ads, for fear that it will look as if they own Harper’s. He does not want conferences or to make videos. “A magazine should be a magazine,” he said. “A newspaper should be a newspaper.”

Harper’s, like other general interest literary magazines, consistently loses money. Then again, as a nonprofit backed by the MacArthur foundation and its $5.7 billion endowment, it’s not going away anytime soon.
For the rest: the forecast reads rocky times ahead.
Image: Old Carissa shipwrecked off the coast of Oregon, via Erin Misserion on Flickr. Select to embiggen.

Business News, August 2014 Edition

Buzzfeed, which gets about 150 million of us to visit each month, just closed a $50 million round with Andreessen Horowitz, the prominent technology venture firm.

Chris Dixon, general partner at the VC firm, says Buzzfeed is a “full stack" startup, meaning that it’s not just an online publisher, but rather an online publisher with integrated end-to-end technologies.

In this case, a media stack on which listicles and in-depth reporting can co-exist side by side, driven by a modern content management system, integrated analytics and ad serving engines, and a 75 person team creating “native content” for advertisers. It’s repetitive to say Buzzfeed also gets the social thing. About 75% of Buzzfeed’s traffic comes from social media.

What, fundamentally, makes this an interesting investment to Dixon? A mastery of social, mobile, content and tech:

Many of today’s great media companies were built on top of emerging technologies. Examples include Time Inc. which was built on color printing, CBS which was built on radio, and Viacom which was built on cable TV. We’re presently in the midst of a major technological shift in which, increasingly, news and entertainment are being distributed on social networks and consumed on mobile devices. We believe BuzzFeed will emerge from this period as a preeminent media company.

Meantime, legacy media companies are dropping their print publications. “Divestiture" is the name of the 2014 game. Three companies built on print — Ganett, the Tribune Company, and EW Scripps — are focusing on television, radio and the Internet, and spinning off their print properties to survive as independent companies that sink or swim as the tides may turn.

Says The New York Times’ David Carr:

The persistent financial demands of Wall Street have trumped the informational needs of Main Street. For decades, investors wanted newspaper companies to become bigger and diversify, so they bought more newspapers and developed television divisions. Now print is too much of a drag on earnings, so media companies are dividing back up and print is being kicked to the curb.

The news behind the news, of course, is that already reeling smaller, regional papers will increasingly vanish without the financial buffer provided by being part of larger diversified companies. This, despite the fact that 72% of Americans follow local news via these same print publications. Then again, many outside the news media bubble don’t know about the financial disruption that’s churned the industry over the last decade.

Via last year’s Pew State of the Media Report:

[T]he majority of people surveyed early this year had heard little or nothing about the financial problems besetting news organizations. The largest group of respondents—36%—said they heard “nothing at all” about the issue and the second largest—24%—said they heard “a little.”

So where goes print?

As news of the $50 million Buzzfeed round pinged about the Internet, a quieter profile of Harper’s publisher John MacArthur hit the Web. In it, he doubles down on print:

The web is bad for writers, [MacArthur] said, who are too exhausted by the pace of an endless news cycle to write poised, reflective stories and who are paid peanuts if they do. It’s bad for publishers, who have lost advertising revenue to Google and Facebook and will never make enough from a free model to sustain great writing. And it’s bad for readers, who cannot absorb information well on devices that buzz, flash and generally distract.

He does not want to explore many of the new revenue streams favored by other publishers — like Monocle, which has stores and a radio station. He will not let advertisers sponsor a section of the magazine, let alone place native ads, for fear that it will look as if they own Harper’s. He does not want conferences or to make videos. “A magazine should be a magazine,” he said. “A newspaper should be a newspaper.”

Harper’s, like other general interest literary magazines, consistently loses money. Then again, as a nonprofit backed by the MacArthur foundation and its $5.7 billion endowment, it’s not going away anytime soon.

For the rest: the forecast reads rocky times ahead.

Image: Old Carissa shipwrecked off the coast of Oregon, via Erin Misserion on Flickr. Select to embiggen.

PRESS: IN THE FLESH

maxwellcollins:

Here are some images from my recent series featuring portraits of employees from The Buffalo News printed on top of collages of newspaper.  

Statement

'Press: In the Flesh' is portrait series featuring photographs of all the different characters involved in the 24-hour business of print journalism including all the editors, writers and photographers that make a daily newspaper possible. 

What makes this body of work unique is that the subjects are printed directly on top of the newspaper they contribute to, adding another dimension to the image that not only speaks to the individual, but infuses them with the product they work so hard to produce. 

As we embark deeper into the digital age, the security of the printed word continues to waiver, which will allow these portraits to act as an artifact in the future of how newspapers were once produced.

FJP: Thanks for sharing, Max. It’s fantastic.

"Rolling Disaster" at The Times-Picayune

Almost a year ago, New Orleans’ Times-Picayune cut staff, announced that it would stop publishing a daily newspaper in favor of three days a week and tired to pivot to digital first at NOLA.com.

A year into the process The Columbia Journalism Review calls strategic decisions made over the last 12 months a “rolling disaster" while the New York Times’ David Carr calls pretty much everything to do with the Picayune "a jaw-dropping blunder”.

But the Picayune isn’t done. Advance Publications, the paper’s owner, has announced the paper will be a paper. Again. Sort of. But in a different format. Probably because The Advocate, the Baton Rouge daily that’s just set up shop in New Orleans, is looking to eat the Picayune’s lunch.

David Carr tries to explain the Picayune’s return to print:

The new distribution plan is hard to explain, but I will do my best.

On Wednesdays, Fridays and Sundays, a broadsheet called The Times-Picayune will be available for home delivery and on the newsstands for 75 cents. On Mondays, Tuesdays and Thursdays, a tabloid called TPStreet will be available only on newsstands for 75 cents.

In addition, a special electronic edition of TPStreet will be available to the three-day subscribers of the home-delivered newspaper. On Saturdays, there will be early print editions of the Sunday Times-Picayune with some breaking news and some Sunday content.

There’s more, but you get the idea — or not. It’s an array of products, frequencies and approaches that is difficult to explain, much less market.

The move was clearly defensive, unveiled the day before John Georges, the new owner of The Advocate, announced that it would expand its incursion into New Orleans.

If that leaves you shaking your head, try this take by Kevin Allman at The Gambit:

The digitally-focused NOLA Media Group, which cut back print publication of The Times-Picayune to three days a week last year, continued to innovate today by announcing a new plan to print on the days it doesn’t produce a print product, bringing the company up to 7-day-a-week publication, according to an announcement by NOLA Media Group Vice President of Content Jim Amoss.

The report, which is not from The Onion, says the new product, to be called “TPStreet,” will launch this summer in newsboxes around the city and cost 75 cents, just like the daily paper, which it will not be, because it is more innovative than that…

…The innovative publication is in response to “a repeated request” from home-delivery subscribers to get a delivered daily paper, but it will not be home delivered, [President and Publisher Ricky] Mathews said.

So, The Advocate’s is trying to invade and the Picayune is playing oddball defense.

"Our hope is that we will be treated to an invigorating old-time press war between The Advocate and The Times-Picayune," Jed Horne, a former editor at The Times-Picayune tells Carr, “but of course, it could end up being two dinosaurs fighting over the last mud hole on an overheated planet.”

Let’s hope not.

The Times’ Sports Page is Blank and Filled with Irony
In case you haven’t heard, there will be no inductees to the baseball hall of fame this year (the organization wants to distance itself from the steroid era players.) To reflect this, the New York Times’ sports department published a largely empty cover today.
But it wasn’t completely empty. From a few feet away, a passerby might notice a single line at the bottom.
Sports Art Director Wayne Kamidoi told Poynter what it says:


Ultimately, some of the marquee names of The Steroids Era were rendered in agate-size type, a mere footnote in baseball history, at the bottom of the package.


FJP: Powerful.

The Times’ Sports Page is Blank and Filled with Irony

In case you haven’t heard, there will be no inductees to the baseball hall of fame this year (the organization wants to distance itself from the steroid era players.) To reflect this, the New York Times’ sports department published a largely empty cover today.

But it wasn’t completely empty. From a few feet away, a passerby might notice a single line at the bottom.

Sports Art Director Wayne Kamidoi told Poynter what it says:

Ultimately, some of the marquee names of The Steroids Era were rendered in agate-size type, a mere footnote in baseball history, at the bottom of the package.

FJP: Powerful.

AP to Publish News on Restaurant Receipts
Interesting, no? From now on, whenever you dine at the Old Ebbitt Grill in Washington, D.C., your receipt will contain the news you’ve missed over the course of the meal.
From their press release:

The printed updates have several advantages in this venue over the smartphone, providing access to the news without people becoming absorbed in their devices at the same time contributing to table conversation and interaction.

Image: Press Release.

AP to Publish News on Restaurant Receipts

Interesting, no? From now on, whenever you dine at the Old Ebbitt Grill in Washington, D.C., your receipt will contain the news you’ve missed over the course of the meal.

From their press release:

The printed updates have several advantages in this venue over the smartphone, providing access to the news without people becoming absorbed in their devices at the same time contributing to table conversation and interaction.

Image: Press Release.

Newsweek Global, as the all-digital publication will be named, will be a single, worldwide edition targeted for a highly mobile, opinion-leading audience who want to learn about world events in a sophisticated context. Newsweek Global will be supported by paid subscription and will be available through e-readers for both tablet and the Web, with select content available on The Daily Beast.

Tina Brown & Baba Shetty on the Newsweek of the future. (via newsweek)

Will it work?

prostheticknowledge:

Out Of Print 

Fun project creates computer-generated random headlines scrambled from news feeds which are then printed with traditional techniques and sent via Twitter:

The invention of the printing press is the finest example of how a shift in technology can change the way we communicate. In the 21st century, digital technology has become the defining force shaping society; changing the way we live, interact and consume information.

With the growth of digital media we are now faced with unprecedented levels of data. We find ourselves at a saturation point. By attempting to consume ever more, we end up understanding less. How do we make sense of all the information we consume and not get lost in the process? Through the use of traditional printing techniques we explore this question.

By using live online news feeds we are building a digital application that generates seemingly random headlines; these will then be printed using a custom-built letterpress. The prints will form a growing collection exhibited as part of the installation.

More about the project here

FJP: Heart.

Generations that deem the act of reading on print essential are disappearing, and while the new ones regard online reading as a natural thing, they will never know that sensual world where communication requires more senses than just the sight.

What really matters now is whether the reader is wise enough to carefully pick his readings and turn them into his own intellectual benefit. If newspapers continue avoiding rescuing journalism with the available digital tools, no miracle will save them from obsolesce and disappearance. On the contrary, if both digital and print realms open a new broader dialogue and are able to find formulas that allow them to coexist, the reader will be the utmost beneficiary.

— Graphic designer María Mercedes Salgado, in an interview to Mexican newspaper El Universal, a few days before the World Summit on Newspaper Design takes place in Mexico City.  (via fjp-latinamerica)

Making a Smart Newspaper
Researchers at the University of Central Lancashire have created a prototype of the world’s first newspaper that plays audio. Called Interactive Newsprint, the prototype is set to improve over the next few months as they test it on readers.
Here’s UCLan:

The platform is capable of capacitive touch interactions, which means that by touching various parts of the page, readers can activate content ranging from audio reports, web polls or advertising – all contained within the paper itself.
But the developments in printed electronics do not stop there. Digital devices and microphones, buttons, sliders, colour changing fibres, LED text displays and mobile communication can all be used in an interactive newspaper. Existing forms of local journalism and content are being used as part of the project to develop a range of interactive paper documents. 

They’re also working directly with the community, involving readers in the development of their prototypes. Paul Egglestone, the project lead at UCLan, had this to say:

Through these workshops we are looking at how communities would develop this technology rather than how boffins in a laboratory would develop it. That’s such a strong element of what we’re doing.  Being able to place the paper in the middle of the internet opens up a whole new ball park in the ways we can both tell stories, but also how we can collect data. Who’s holding the paper, who’s touching it, how are they interacting is part and parcel of the kind of stuff this project will explore.

H/T: journalism.co.uk

Making a Smart Newspaper

Researchers at the University of Central Lancashire have created a prototype of the world’s first newspaper that plays audio. Called Interactive Newsprint, the prototype is set to improve over the next few months as they test it on readers.

Here’s UCLan:

The platform is capable of capacitive touch interactions, which means that by touching various parts of the page, readers can activate content ranging from audio reports, web polls or advertising – all contained within the paper itself.

But the developments in printed electronics do not stop there. Digital devices and microphones, buttons, sliders, colour changing fibres, LED text displays and mobile communication can all be used in an interactive newspaper. Existing forms of local journalism and content are being used as part of the project to develop a range of interactive paper documents. 

They’re also working directly with the community, involving readers in the development of their prototypes. Paul Egglestone, the project lead at UCLan, had this to say:

Through these workshops we are looking at how communities would develop this technology rather than how boffins in a laboratory would develop it. That’s such a strong element of what we’re doing.  Being able to place the paper in the middle of the internet opens up a whole new ball park in the ways we can both tell stories, but also how we can collect data. Who’s holding the paper, who’s touching it, how are they interacting is part and parcel of the kind of stuff this project will explore.

H/T: journalism.co.uk

Hello, Little Printer

We don’t think we want to print out our personalized news feeds but that doesn’t mean we wont want to play with this adorable printer from BERG, a design studio in London.

The printer grabs your “news” from Arup, Foursquare, Google and The Guardian and gives you a receipt size printout of your digital feed.

Via FastCo Design:

Though the Little Printer can seem a bit baffling, it’s really a quietly different paradigm for technology: It’s a hack of old technologies, aimed at creating a calmer vision of social networking. It’s a limited device that’s meant to fit into our day rather than demand attention. As [BERG’s Jack] Shulze points out, amid the din of contemporary tech, “There’s room for shared objects and content that moves a little slower.”…

…Much like a DVR, the Berg Cloud Bridge is a box that plugs into your router and manages online subscriptions from Berg’s content partners (Google, The Guardian, foursquare, and Arup). Each person in a household can create a custom newspaper by managing those subscriptions on an iPhone app. So whenever Mom leaves for work at 7:30, the printer can have current news headlines, a “mini newspaper,” waiting for her to read on the train, along with a crossword. When Dad takes the kids to school at 8:30, his daily to-do list could be ready at the door, along with popular pictures from his Instagram network.

Kind of like having a personalized wire service, old school style, but cuter.

Anonymous asked: Hi, I really need your help. I've got a job interview on Friday and they want me to come up with some ideas on how to increase the magazine's hard copy readership. It's been going for 25 years and has an established, loyal base but the time has come to increase that to the new generation without radically changing its content. Do you have any ideas on how to go about this? Thanks.

We don’t envy you because if we had a surefire one size fits all solution we’d be rolling in the big bucks. Instead, we run a Tumblr.

That said, it’s hard to offer advice without knowing anything about the magazine you’re going to interview for. Is it a general interest, fashion, music or sports title? Perhaps it’s super niche?

And that said, take a look at our Magazines Tag. Most of the posts are about magazines and their efforts to go digital but there are some that talk about print magazines making it in print.

For starters, try these:

Our Business Models Tag will be helpful too. It focuses on much more than magazines but should give you good ideas about what people are thinking about when it comes to sustainability and overall audience growth.

Hope this helps and good luck with the interview. — Michael

In Praise of Print

  • FJP: The Guardian reports on both the success of print magazines, and the symbiotic relationship print and digital delivery can have for a brand. Here are some ideas from the article (http://bit.ly/Ke0hGj).
  • Marcus Webb: We want to make something which is treasured, which ends its days making the bookshelf, coffee table or toilet just that little bit prettier and more civilized.
  • Joerg Koch: You don't need print for news any more. But for long, visual-driven stories, it can offer a business model and an immersive focused quality that digital cannot offer yet.
  • Dave Eggars: To survive, the newspaper, and the physical book, needs to set itself apart from the web. Physical forms of the written word need to offer a clear and different experience. And if they do, we believe, they will survive.
  • Munro Smith: Computers and video games haven't killed physical toys and games, so there's no reason why the digital world should kill print. Lack of innovation or providing a poor product is far more likely to do that. The amazing range of technological opportunities that can be used to support and interact with print are definitely a bonus, not a threat.
Warren Buffett buys 63 newspapers, we scratch our heads
About two weeks ago, Berkshire Hathaway CEO Warren Buffett bought 63 newspapers from Media General, a news company that operates throughout the US Southeast. The purchase has gotten a lot of criticism, as you can imagine, and some praise too. Let’s dissect the argument.
The papers themselves are small locals, and Buffett has said he wants to focus on local reporting. Fair enough.
via Buffett:

Our future depends on remaining the primary source of information in certain subjects of great importance to our readers. Technological change has caused us to lose primacy in various key areas, including national news, national sports, stock quotations and employment opportunities. So be it. Our job is to reign supreme in matters of local importance.

Buffett knows that much of what traditionally made a newspaper a newspaper – the classifieds, funnies, world news – is now free and online. So he’s wants to lean on local issues that only a local paper will cover. There’s got to be a market for that, right?
And he wants to charge for online content, probably:

We must rethink the industry’s initial response to the Internet. The original instinct of newspapers then was to offer free in digital form what they were charging for in print. This is an unsustainable model and certain of our papers are already making progress in moving to something that makes more sense.

But he’s missing something, according to the critics. Namely, that you can’t expect subscriptions or paywalls to finance a paper.
 writes Clay Shirky:

He makes much of drops in print readership, but circulation has not been strongly correlated with revenue for two decades now.

Buffett expects that quality reporting will boost readership, boost sales, and then boost business. But it’s not that simple.
Shirky goes on:

Reading the letter, you’d never know that papers make most of their money from companies, not citizens, and have done for the better part of two centuries. It is disruptive competition for ad dollars, not changing reader engagement, that has sent the industry into a tailspin.

FJP: The jury’s still out on paywalls, but if they only sort-of work for the New York Times, then their adoption by a paper in a town of 10,000 doesn’t incite our confidence.
Matthew Ingram of GigaOm puts it well: newspapers have changed. The internet has most of what a paper has always had, and makes it easier to find. And the ad money, which has always financed the news, has followed our collective attention away from print.
Ingram writes:

The real business of a newspaper has been to aggregate content — news, but also comics and horoscopes and classifieds and lifestyle tips — as a way of capturing the attention of readers, and then sell that attention to advertisers. And the problem for newspapers, both hyper-local and national, is that advertisers are no longer as interested in that arrangement as they used to be. Much of the attention that they seek to monetize has gone elsewhere, to websites and services like Facebook — especially the attention of younger readers with disposable income.

But Warren Buffett is a business man, and as one of the world’s most successful investors, it’s not surprising that he’s not in much danger of losing money.
via Devin Leonard:

Yet it’s also important to look at the price Berkshire is paying for the Media General papers. As recently as six years ago, newspaper companies sold for more than 9 times Ebitda (earnings before interest, taxes, depreciation, and amortization). Bank of America Merrill Lynch’s Stephen Weiss writes today that Buffett’s company paid around 4 times Ebitda for the Media General assets.
At that low price, Berkshire Hathaway could make a nice return on its money. As the Wall Street Journalreported earlier this month, it has done surprisingly well since purchasing the debt last November of Lee Enterprises, another troubled newspaper publisher, from Goldman Sachs.

And there you have it, for now.
Image: Fiscal Muses.

Warren Buffett buys 63 newspapers, we scratch our heads

About two weeks ago, Berkshire Hathaway CEO Warren Buffett bought 63 newspapers from Media General, a news company that operates throughout the US Southeast. The purchase has gotten a lot of criticism, as you can imagine, and some praise too. Let’s dissect the argument.

The papers themselves are small locals, and Buffett has said he wants to focus on local reporting. Fair enough.

via Buffett:

Our future depends on remaining the primary source of information in certain subjects of great importance to our readers. Technological change has caused us to lose primacy in various key areas, including national news, national sports, stock quotations and employment opportunities. So be it. Our job is to reign supreme in matters of local importance.

Buffett knows that much of what traditionally made a newspaper a newspaper – the classifieds, funnies, world news – is now free and online. So he’s wants to lean on local issues that only a local paper will cover. There’s got to be a market for that, right?

And he wants to charge for online content, probably:

We must rethink the industry’s initial response to the Internet. The original instinct of newspapers then was to offer free in digital form what they were charging for in print. This is an unsustainable model and certain of our papers are already making progress in moving to something that makes more sense.

But he’s missing something, according to the critics. Namely, that you can’t expect subscriptions or paywalls to finance a paper.

 writes Clay Shirky:

He makes much of drops in print readership, but circulation has not been strongly correlated with revenue for two decades now.

Buffett expects that quality reporting will boost readership, boost sales, and then boost business. But it’s not that simple.

Shirky goes on:

Reading the letter, you’d never know that papers make most of their money from companies, not citizens, and have done for the better part of two centuries. It is disruptive competition for ad dollars, not changing reader engagement, that has sent the industry into a tailspin.

FJP: The jury’s still out on paywalls, but if they only sort-of work for the New York Times, then their adoption by a paper in a town of 10,000 doesn’t incite our confidence.

Matthew Ingram of GigaOm puts it well: newspapers have changed. The internet has most of what a paper has always had, and makes it easier to find. And the ad money, which has always financed the news, has followed our collective attention away from print.

Ingram writes:

The real business of a newspaper has been to aggregate content — news, but also comics and horoscopes and classifieds and lifestyle tips — as a way of capturing the attention of readers, and then sell that attention to advertisers. And the problem for newspapers, both hyper-local and national, is that advertisers are no longer as interested in that arrangement as they used to be. Much of the attention that they seek to monetize has gone elsewhere, to websites and services like Facebook — especially the attention of younger readers with disposable income.

But Warren Buffett is a business man, and as one of the world’s most successful investors, it’s not surprising that he’s not in much danger of losing money.

via Devin Leonard:

Yet it’s also important to look at the price Berkshire is paying for the Media General papers. As recently as six years ago, newspaper companies sold for more than 9 times Ebitda (earnings before interest, taxes, depreciation, and amortization). Bank of America Merrill Lynch’s Stephen Weiss writes today that Buffett’s company paid around 4 times Ebitda for the Media General assets.

At that low price, Berkshire Hathaway could make a nice return on its money. As the Wall Street Journalreported earlier this month, it has done surprisingly well since purchasing the debt last November of Lee Enterprises, another troubled newspaper publisher, from Goldman Sachs.

And there you have it, for now.

Image: Fiscal Muses.

Analog Dollars * Digital Dimes = Struggling Newspapers →

The Project for Excellence in Journalism found that for every new dollar that newspapers were earning in new digital advertising revenue, they were losing $7 in print advertising revenue.

Via the New York Times.