The Idaho Business Review is reporting that a local media outlet is reorganizing under Chapter 11 bankruptcy protection. It turns out that the business is the Minneapolis-based owner of IBR.
Using a process known as a "pre-packaged bankruptcy," James Dolan, CEO of The Dolan Company, said his company is looking to reduce its debt from $170 million to about $50 million. Dolan said employees will continue to be paid as usual through the process, which he said should last about two months.
The Chapter 11 bankruptcy petitions are expected to be filed next week in a U.S. Bankruptcy Court in Delaware.
Dolan also announced that he would be resigning, along with Chief Financial Officer Vicki Duncomb and General Counsel Renee Jackson and would not be part of the restructured company.
At midday, The Dolan Company was trading at 15 cents per share on the New York Stock Exchange.
One of the nation's busiest portals—the New York Times' web site—came crashing down Aug. 27 and was still experiencing major problems this morning.
According to CNET, someone or some organization managed to access a so-called reseller account on Melbourne IT's network and crashed the Time's site. Melbourne IT is the domain registrar that keeps control over the nytimes.com name. The hacked reseller username and password were used to bring down the system.
Bloomberg News is reporting that a group calling itself the Syrian Electronic Army was claiming responsibility. The group also said it had hacked into Twitter, rendering parts of its site inaccessible.
The Times has spent the past 24 hours sending emails to its subscribers to go to an alternate site to view its articles while it attempts to restore its main site.
“We are currently reviewing our logs to see if we can obtain information on the identity of the party that has used the reseller credentials," wrote Tony Smith, spokesman for the Australian-based Melbourne IT. "And we will share this information with the reseller and any relevant law-enforcement bodies.”
One of the Northwest's powerhouse newspapers—The Oregonian—is going to a four-day-a-week home delivery and will slash its editorial and production staff as it shifts more emphasis to its digital platform.
Oregon's largest newspaper will still print a daily newspaper but home delivery will only be available on Wednesday, Friday, Sunday and a so-called "bonus" edition on Saturday.
The Oregonian—which began in 1850—is owned by Advance Publications, Inc, which has moved many of its other publications toward more digital, and less print, content. Advance slashed home delivery for newspapers in New Orleans, Cleveland and Ann Arbor, Mich.
"They're giving people significantly less, and they're going to have a hard time later trying to charge people," media analyst Ken Doctor told the Associated Press.
Oregonian staff was informed of the change on Thursday. Editor and Vice President Peter Bhatia told newsroom employees that the reductions would be "significant."
The Oregonian won seven Pulitzer Prizes, five since 1999.
They've stopped the presses for good at Treasure Valley Family Magazine.
"It's bittersweet to say goodbye and announce that this June 2013 edition will be our final issue," wrote Publisher/Editor Liz Buckingham in the current, and final, issue.
Treasure Valley Family Magazine debuted in October 1993 and would include Treasure Valley Family Resources, an annual publication.
"After two decades of publishing I look forward to exploring other projects and having more time to support my family's needs and interests," wrote Buckingham. "The support we received from other media outlets, local businesses, and nonprofit agencies and programs that shared our company's mission to promote healthy families and positive parenting helped us become the go-to resource for families."
Less than a few months after Newsweek stopped printing its hard copy edition, Time Warner announced Wednesday that it expected to toss its magazine subsidiary—Time, Inc.—from the nest by the end of the year, focusing instead on film and television projects.
"After a thorough review of options, we believe that a separation will better position both Time Warner and Time Inc.," wrote Time Warner CEO Jeff Bewkes in a statement. "A complete spinoff of Time Inc. provides strategic clarity for Time Warner Inc., enabling us to focus entirely on our television networks and film and TV production businesses, and improves our growth profile."
Prior to Wednesday's announcement, The New York Times reported that Time Inc. had been in talks to sell some of its other magazine titles to Meredith, but those talks have since cooled off. The Times reports that Meredith wasn't interested in buying iconic magazines Fortune, Sports Illustrated or Money, titles that continue to struggle, and which Time Warner appeared eager to shed.
The Seattle Times is the latest regional newspaper to start charging extra for its online access.
Times Executive Editor David Boardman wrote in a Sunday column that his organization will begin charging consumers if and when they visit the newspaper's website too many times. Digital subscriptions will be free to readers who already have the Seattle Times delivered. Online-only subscriptions will also be available.
The Idaho Statesman put up a paywall between its online content and readers in November 2012.
Since The New York Times installed its own paywall in March 2011, more than 400 daily newspapers across the country have followed suit.
A new weekly publication, focusing on Meridian, will hit the streets beginning Friday, Jan. 25.
The Idaho Press-Tribune announced Tuesday that it will soon publish The Meridian Press, after researchers found that 71 percent of those polled said they would read a new publication covering just the Meridian area, and that 53 percent said they felt that current media didn't do a very good job covering Meridian news and information.
Holly Beech, a business reporter for the Press-Tribune, has been assigned to be the primary reporter for the new publication.
The Press-Tribune is part of Seattle-based Pioneer News Group.
2012 was one of the bloodiest years on record for journalists. A total of 121 reporters were killed in the last 12 months, up from 2011's death toll of 107.
The International Federation of Journalists said that Syria was the most dangerous country in the world for the media in 2012, with 35 fatalities recorded. It was followed by Somalia, and then Mexico and Pakistan. The Philippines and Iraq trailed behind those.
"The death toll for 2012 is another indictment of governments which pay lip service to the protection of journalists but have consistently failed to stop their slaughter," said IFJ President Jim Boumelh. "It is no wonder that these sky-high numbers of killed journalists have become a constant feature in the last decade, during which the usual reaction from governments and the United Nations has been a few words of condemnation, a cursory inquiry and a shrug of indifference."
The IFJ represents more than 600,000 journalists in 134 countries.
The IFJ's figure for journalists' deaths was higher than the total reported by another press group, Reporters Without Borders, which said on Dec. 19 that 88 journalists were killed in 2012. Still, despite the lower figure, RWB said that its death toll figures were the highest it had recorded in 17 years.