The most well-known of these is the Washington Post, controlled by Jeff Bezos, the billionaire founder of. The third model is papers owned by extremely rich individuals.
The second are those controlled by private companies, the largest of which is the aforementioned Digital First Media, owned by private equity firm Alden Capital, Hearst. The first is those owned by the large public corporations. Newspaper ownership among the largest properties falls primarily into four categories. Presumably a large portion of these were digital. According to the company, it added 132,000 paid subscribers between the election and the end of November. (NYSE: NYT) had 1,557,000 digital-only subscribers. At the end of the third quarter, New York Times Co. The only paper that currently has a paid circulation model that works extremely well is The New York Times, which had a recent surge in its total. McClatchy’s largest papers are in Fort Worth and Miami.įinally, privately held Digital First Media has a profit and loss statement that is hard to obtain because the company does not have to disclose it. With a debt load of nearly $1 billion, it can barely pay the service on the debt compared to the amount of its operating income. The biggest paper Gannett owns, the Record in New Jersey, it bought recently.Īnother of the largest four largest publishers is debt-crippled McClatchy Co. Gannett does not own a large number of newspapers in America’s largest cities, but, by total newspaper count, it makes up for that. (NYSE: GCI), the largest newspaper chain by the total paid circulation of its papers. Tronc was recently a takeover target of Gannett Co.
The Los Angeles Times and the Chicago Tribune are the dailies in America’s second and third largest cities. (NASDAQ: TRNC), formerly known as Tribune Publishing, which owns papers in some of the largest cities in America. The fallout of the slow destruction of the industry has been born to a substantial extent by four companies, which own the largest number of America’s top 100 papers based on combined paid print and paid digital circulation. In each of these models, the plan is to cut the cost of their print circulation operations to either lower losses or make very modest profits. Papers in some cities, like Detroit, are no longer printed seven days a week. Only subscribers who pay enough to be profitable customers remain. In other cases, media companies drop people who pay very little for the paper. Managements do not want to maintain the expense to print and ship papers well outside their home cities, which is an expensive distribution model. The circulation drops are often due to strategic decisions by newspaper companies. This number has dropped by over a quarter at many papers in as little as three years. Another, more specific measure, just as startling, is the paid print circulation of America’s 100 largest newspapers based on the same measure. One only has to look at the attrition of the print advertising revenue of America’s publicly traded newspaper companies to see the extent to which the newspaper industry has shrunk.
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