MediaNews Group, Inc., owner and publisher of the Oakland Tribune, the Denver Post and more than 50 daily and 35 non-daily newspapers plans to grow its web revenue by 20 percent over the next 5 years. The company has already began to consolidate and localize staff by cutting editorial jobs and combining printer and newsgathering efforts within specific locals.
”We have to find ways to grow revenue or become more efficient by eliminating fixed costs,” Lodovic said. “Why does every newspaper need copy editors? In this day and age, I think copy-editing can be done centrally for several newspapers.”
MediaNews plans to “attract young readers” through web sites that cater to them while relying on services, such as those provided by Yahoo! to streamline advertising initiatives for both print and web markets.
”The Internet is a small piece now, but obviously it’s growing at a faster rate than the print side,” Lodovic said. “The print side is struggling right now. Some of that is cyclical and some of that is not, but in the next five years we don’t see print growing.”
Read the full article, “Singleton’s MediaNews Plans to Triple Web Revenue (Update1).”
