In 1999, John Georges went into the tugboat business. It was unchartered territory for him. Though he had a successful wholesale distribution company and a thriving video poker business, offshore maritime was a totally new ballgame. The business was extremely tough and capital intensive. Though Georges, by his own account, did well with the company—growing market share and making money—he ultimately was unable to compete with the real heavyweights in the industry. Taking them on would have required either devoting all his resources to tugboats, or remaining a niche player, and being a niche player isn't Georges' style. He is not one to compete with anyone who puts him at a competitive disadvantage from which he cannot emerge victorious. He is hard-wired to win. Lives for it. Thrives on it. If he can't be first, he would sooner move on than settle. His life and career are a testament to that drive and determination. He is among the top 10 convenience store wholesalers in...
When I was growing up in Baton Rouge, after my family moved here from New Orleans just before I was born, The Times-Picayune was thrown in our yard each morning. After school, I would get on my bike to deliver The State-Times, the afternoon counterpart of the then-called Morning Advocate.
The news was already half a day old when the press conference announcing John Georges' acquisition of The Advocate took place. But the May 1 media briefing officially passing the torch of ownership was noteworthy not so much for what was said—it was predictable enough—but for who was in attendance: New Orleans Mayor Mitch Landrieu.
"Clearly, commanding a market to change on a dime because it suits your business plan does not mean readers will obey," says The New York Times' David Carr in a column Sunday. "Just ask Advance Publications, owned by the Newhouse family, which is back to where it started in New Orleans with The Times-Picayune." The attempted transformation of The Times-Picayune to a digitally focused news organization—initially scaling back publication to just three days a week, but more recently reversing course and launching a new publication called TPStreet to once again have a printed product every day—has been "a jaw-dropping blunder to watch," Carr says. "Advance misjudged the marketplace … and failed to execute a modern digital strategy. Now it is in full retreat with new competition," he writes. The Advocate has been raiding The Times-Picayune's editorial staff since new owner John Georges purchased the newspaper, Carr notes, and is...
When I was growing up in Baton Rouge, after my family moved here from New Orleans just before I was born, The Times-Picayune was thrown in our yard each morning. After school, I would get on my bike to deliver The State-Times, the afternoon counterpart of the then-called Morning Advocate.
When I was growing up in Baton Rouge, after my family moved here from New Orleans just before I was born, The Times-Picayune was thrown in our yard each morning. After school, I would get on my bike to deliver The State-Times, the afternoon counterpart of the then-called Morning Advocate. Besides the paper route, I've never worked for either paper (this is a syndicated column), but as with most of their dual readers, their newly engaged business rivalry holds my attention as much as any stories they publish these days. On May 1, both papers ran front-page banner headlines announcing their big changes: "Georges buys Advocate" and "T-P adding newsstand tab 3 days a week." The great south Louisiana newspaper war is on. This one is unlike those from the early 20th century in big cities, when the struggle was between two established papers rooted in the same market. New publisher John Georges plans to expand on The Advocate's recent incursion into New Orleans,...
No less than Gov. Bobby Jindal, Mayor Kip Holden and New Orleans Mayor Mitch Landrieu joined the new owner and publisher of The Advocate, John Georges, at a news conference this morning to officially announce the New Orleans businessman's acquisition of the state's largest daily paper. In a crowded conference room at The Advocate headquarters, Georges spoke glowingly about his predecessors, the Manship family, the Baton Rouge market and the opportunities presented by this latest of his many business ventures. He also introduced his two top managers: veteran journalists Dan Shea, general manager, and Peter Kovacs, editor. But the event was more a passing of the torch than a briefing on what changes may be in store for the newspaper or on the terms of the sale, which were not disclosed. Outgoing publisher David Manship, whose family operated the daily for more than a century, delivered an emotional farewell to his longtime employees and co-workers. Later, his brother,...
Dan Shea, the former managing editor of The Times-Picayune who has been tapped as new general manager of The Advocate, tells Poynter that the Baton Rouge daily is looking to compete with the New Orleans paper head on under its new owner, John Georges. "Our plan is simple," Shea says. "Give the people of metro New Orleans what they want: a seven-day, home-delivered truly local newspaper. We'll provide the resources to get that done quickly." As reported by Daily Report on Tuesday afternoon, Shea and Peter Kovacs—also a former managing editor at The Times-Picayune—have been hired to lead The Advocate under its new ownership. The Advocate officially announced...
As New Orleans businessman John Georges prepares to close on his pending acquisition of The Advocate—a deal which could be finalized in the next few days, according to sources—NOLA media group, parent company of The Times-Picayune, has announced that it's adding another print product to the marketplace this summer. TPStreet will appear in a tabloid-size format in the New Orleans area on newsstands and in newspaper boxes only, on Mondays, Tuesdays and Thursdays—days when The Times-Picayune is not published. Georges declines to comment on the latest development in the increasingly competitive battle for subscribers between the New Orleans and Baton Rouge newspapers. "My sole focus is on The Advocate," Georges tells Daily Report. "I don't focus on potential competitors." Meanwhile, sources say Georges' editorial...
While sources say employees of The Advocate are on pins and needles as they await word on what the pending sale of the family-owned newspaper will mean to them, the man who may soon be their boss has at least some reassurances for them. "In my opinion that place has all the resources and all the people that it needs to compete," says New Orleans businessman John Georges, who last week signed a letter of intent to acquire the paper. "There are some great people who work there." Georges, who was at LSU's E. J. Ourso College of Business this morning for the kickoff of Lemonade Day Louisiana, says if and when the sale is finalized, he will do the same thing at The Advocate that he has done at all the companies Georges Enterprises has acquired over the years. "When we acquire a company, we enhance them," he says. "We make them competitive by giving them the resources they need to compete." Many publishing companies around the country are selling or closing their newspapers...
Daily Report has confirmed that New Orleans businessman John Georges has signed a letter of intent with the Manship family to acquire The Advocate. Details of the agreement, which was signed today, are unknown, and earlier Friday sources told Daily Report the letter of intent would only lay out the general terms of the deal and that a document outlining the specifics of the acquisition will not come until later. Georges, reached Friday night, declined to comment, citing a confidentiality agreement. The Advocate's publisher David Manship did not return calls for comment earlier this week. Industry sources have calculated the paper's value at somewhere between $30 million and $40 million, not including its some $30 million debt load. Manship has told Daily Report on previous occasions his family was asking "way more than the paper's worth." —Stephanie Riegel
Nearly one month after The Advocate stunned Baton Rouge readers by announcing it is in serious sales talks with a potential buyer—later identified by Daily Report to be New Orleans businessman John Georges— negotiations between the two sides continue with no word on if or when a deal may come together. Advocate Publisher David Manship, who is not directly involved in the negotiations, says it is his understanding the ball is in Georges' court right now. "It's strictly up to him. … I guess he's thinking about it," says Manship. "Frankly, I'll be glad when it's all over." Manship declines to discuss the asking price for the family-owned paper, though he says it is more than $50 million. "I'm telling you it's high," he says. "It's not worth what we're asking for it." The value of the privately held paper is unknown because its financials are not public. However, industry experts have estimated it could be between $25 million and $50 million, not...
Rumors that someone is buying The Advocate have come and gone over the years, and the Manships have said publicly, on more than one occasion, they would sell the daily newspaper their family has owned since the early 1900s for the right price.
Sources familiar with negotiations between the Manship family and New Orleans businessman John Georges over the possible sale of The Advocate say talks have been accelerated because of publicity surrounding the possible deal, and that purchase agreements could be exchanged within the next two weeks. Sources stress, however, that no firm offer is on the table yet because of the complexities surrounding the deal and the many different ways it could be structured. Though no one knows for sure what The Advocate is worth, given that its financials are not made public, publisher David Manship has said the paper still owes approximately $30 million on the Siegen Lane printing presses it bought several years ago. Sources say that debt will factor prominently into how the deal is structured. According to newspaper analyst John Morton of The American Journalist Review, an industry rule of thumb to determine a newspaper's value is to use a multiplier of between $300 and...
New Orleans businessman John Georges has confirmed he is the interested buyer of The Advocate, as Daily Report first reported Saturday. At the time, Georges would not confirm he is in acquisition talks with the Manship family, which owns the Baton Rouge daily newspaper. But earlier today he told The Advocate he "loves Louisiana and loves to buy and own Louisiana companies." News of the possible sale came late Friday, when The Advocate reported on its website it is in serious talks with a potential buyer. In an interview this morning, publisher David Manship told Daily Report his paper decided to run the story when it did and with limited details because word of the deal was getting out and "we didn't want our employees to find out from someone else." Manship says he cannot discuss terms of the possible deal, nor will he confirm Georges is the potential buyer, because he has signed a confidentiality agreement. However, he says he expects a deal to...
A journalism experiment that's in its infancy in Baton Rouge and New Orleans will be closely watched by an industry that has struggled in recent years to cope with declining print advertising during the recession. Edward Atorino, a media industry analyst at Benchmark Co., says newspapers in major metropolitan markets across the country are all eagerly waiting to see what becomes of the battle between The Times-Picayune and The Advocate for readers in Louisiana's largest two cities. "The day of the seven-day newspaper is fading," says Atorino. "This has been a long, deteriorating situation. It's not a shock, and we're going to see more of it." Atorino says total print advertising dollars in the United States dropped from roughly $23 billion in 2008 to $19 billion in 2011. While The Advocate has begun taking steps into the New Orleans market in response to The Times-Picayune's decision to cut its print publication to three days per week beginning Oct. 1,...
The University of New Orleans is teaming up with NPR station WWNO to launch a nonprofit multimedia news initiative. The plans announced today call for creating a newsroom that produces "in-depth local reporting" on topics including government, criminal justice, business, education and the environment. The reports will be featured on a website, neworleansreporter.org and on WWNO radio. The site currently redirects to a page asking for donations to the new project, while the partners plan to launch the news by the end of the year. Content will be available, free of charge, to other news outlets. UNO says the initiative is being built on a public radio funding model, and will rely on a mix of corporate and foundation sponsors, as well as donations from readers and listeners. A release announcing the initiative says it aims to produce "thought-provoking, original reporting on key beats including public accountability and government,...
After The Advocate publisher David Manship coyly told Business Report in June that the family newspaper is "not very adventurous" and would take a wait-and-see approach to entering the New Orleans market, The Advocate this morning laid out an ambiguous plan for moving into the Crescent City this fall with no mention of specifics or how many reporters it may staff there. Nonetheless, observer Bob Mann, a mass communications professor at LSU, calls it a "bold move." Since The Advocate pulled away its single correspondent in New Orleans in 2009, Mann says it would be surprising if the newspaper tries to staff a new bureau with more than two or three reporters. "There's a lot of Associated Press wire copy that's already coming out of New Orleans," Mann says, and the newspaper could use that to beef up its New Orleans-centric front page. A front page reworked for New Orleans, Mann says, wouldn't be unique: many large newspapers do it for other markets and it's...
Richard Manship, president and CEO of Capital City Press—publisher of the The Advocate—says the Baton Rouge daily newspaper plans to expand into the New Orleans market with a specialized print edition in the fall. The Advocate is laying the groundwork to reach into the market following the announcement by The Times-Picayune that the newspaper will reduce publication to three days a week this fall while beefing up its online report. Manship says The Advocate will add staff to supply coverage of the New Orleans area, but did not provide specific numbers, and says plans are still evolving. The Times-Picayune, which is owned by Advance Publications Inc., announced plans in June to convert the 175-year-old New Orleans daily to a 24-hour digital news operation with a print edition only on Wednesdays, Fridays and Sundays. The newspaper also cut about 200 positions. Poynter reports The Advocate plans to enter the market in October,...
A who's who of notable New Orleans residents—including Archbishop Gregory Aymond, former New Orleans Saints quarterback Archie Manning, jazz artist Wynton Marsalis and Treme star Wendell Pierce—are reportedly pressing 22 members of the Newhouse family to sell The Times-Picayune, which has announced plans to move to a three-day-a-week publication schedule this fall. "If you have ever valued the friendship you have shared with our city and your loyal readers, we ask that you sell the Times-Picayune," reads a letter from The Times-Picayune Citizens' Group—which includes more than 70 businesses and community groups—to the Newhouse family. The Times-Picayune reports others signatories include Tulane University President Scott Cowen, Xavier University President Norman Francis, Loyola University President Kevin Wildes, restaurateur Ralph Brennan, and Saints and Hornets owner Tom Benson and his wife, Gayle. "Our city wants a daily printed...
When the corporate owners of New Orleans' 175-year-old daily, The Times-Picayune, announced last month they were going to scale back publication to three days a week and gut the paper's newsroom staff, it sent shock waves through a state that treasures its traditions and clings fiercely to its historic institutions. The news touched a nerve in Baton Rouge, too, with many wondering if The Advocate might move into the New Orleans market to fill the void—or if Baton Rouge's daily might be in danger of facing a similar fate as New Orleans'. For now, Advocate Publisher David Manship says neither is an option. But ultimately, change will come to The Advocate, as it has to The Times-Picayune and a growing number of newspapers around the country. "The economics of the business are in permanent long-term decline, so it's inevitable," says Tom Baker, a New Jersey-based media consultant who was co-founder and general manager of The Wall Street Journal...
When the corporate owners of New Orleans' 175-year-old daily, The Times-Picayune, announced last month they were going to scale back publication to three days a week and gut the paper's newsroom staff, it sent shock waves through a state that treasures its traditions and clings fiercely to its historic institutions.
(From The Daily Beast) On today's MediaBeast, Jacob Bernstein talks with two of New York's top media reporters, Lucia Moses of Adweek and Joe Pompeo of Capital New York. The topics: the fate of the Times-Picayune, and the New York Times's investigation of the Horace Mann School.
The Times Picayune today announced job cuts for 201 employees as it reduces a third of its staff. In the news operation alone, 84 of the 173 people currently employed in the newsroom were notified today that they will lose their jobs and be given severance packages. Employees who were not laid off were offered new jobs to begin this fall with Nola Media Group, the new company that will oversee news coverage for The Times-Picayune. Among the more notable names on the list of newsroom employees slated for layoffs are longtime sports columnist Peter Finney, award-winning restaurant critic Brett Anderson and religion writer Bruce Nolan. The newspaper announced the layoffs here. Finney, it should be noted, has been asked to write a sports column on a freelance basis, Editor Jim Amoss said. "Peter Finney has a permanent seat in the press box in Tiger Stadium for any...
Starting today, all five of restaurateur Ralph Brennan's New Orleans restaurants will begin serving a special "Save the Picayune" cocktail, reports The Times-Picayune. The drinks are part of the Ralph Brennan Restaurant Group's Cocktail for a Cause program. It was conceived in response to last month's announcement that The Times-Picayune will cease operating as a daily newspaper this fall, printing instead on Wednesday, Friday and Sunday of each week while shifting to a smaller, digitally focused news operation. And the drinks will be offered every day, not just three days a week. Brennan's group says its restaurants are pledging their support for "keeping The Times-Picayune in our collective hands seven days a week. RBRG aims to keep the award-winning staff working and reporting on the stories that matter most to New Orleanians, so 20 percent from each of the cocktail's proceeds will benefit adversely impacted The Times-Picayune employees." To read more...
Hundreds of people, some wearing shirts emblazoned with The Times-Picayune logo and carrying protest signs, gathered in the parking lot of Rock 'n' Bowl in New Orleans on Monday for a rally in support of the newspaper and its employees. A host of business and civic leaders—including the heads of Ochsner Health System and Entergy New Orleans Inc.—also signed their names to a letter urging Advance Publications Inc., the owner of The Times-Picayune, to rethink its plan to cut publication of the city's only daily newspaper to three days a week. The Times-Picayune reports more than 70 community members and organizations, organized as the Times-Picayune Citizens Group, say their purpose is to "ensure the continuation of the delivery of a high-quality, seven-day-a-week newspaper, with access to the entire community." Meanwhile, a petition titled "Save The Times-Picayune!" on change.org had...
About 50 business and civic leaders and organizations have joined together in an attempt to stop a recently announced plan to reduce the print publication of The Times-Picayune from once a day to three times weekly, the New Orleans newspaper reports. Calling itself the Times-Picayune Citizens' Group, the body says in a press release issued today that its purpose is to "ensure the continuation of the delivery of a high-quality, seven-day-a-week newspaper, with access to the entire community." The group is hoping to begin communicating with Advance Publications Inc., owner of The Times-Picayune, and other interested parties to achieve that goal. The press release does not detail how the group believes that would be accomplished. The group's introduction comes just hours before a rally in support of the newspaper and its employees is scheduled to take place at 4...
'Business Report': An in-depth look at B.R.'s newest power broker, John Georges
In 1999, John Georges went into the tugboat business. It was unchartered territory for him. Though he had a successful wholesale distribution company and a thriving video poker business, offshore maritime was a totally new ballgame. The business was extremely tough and capital intensive. Though Georges, by his own account, did well with the company—growing market share and making money—he ultimately was unable to compete with the real heavyweights in the industry. Taking them on would have required either devoting all his resources to tugboats, or remaining a niche player, and being a niche player isn't Georges' style. He is not one to compete with anyone who puts him at a competitive disadvantage from which he cannot emerge victorious. He is hard-wired to win. Lives for it. Thrives on it. If he can't be first, he would sooner move on than settle. His life and career are a testament to that drive and determination. He is among the top 10 convenience store wholesalers in...
Start your presses
When I was growing up in Baton Rouge, after my family moved here from New Orleans just before I was born, The Times-Picayune was thrown in our yard each morning. After school, I would get on my bike to deliver The State-Times, the afternoon counterpart of the then-called Morning Advocate.
What does new ownership mean?
The news was already half a day old when the press conference announcing John Georges' acquisition of The Advocate took place. But the May 1 media briefing officially passing the torch of ownership was noteworthy not so much for what was said—it was predictable enough—but for who was in attendance: New Orleans Mayor Mitch Landrieu.
'Times-Pic' transformation a 'jaw-dropping blunder,' says 'NY Times' columnist
"Clearly, commanding a market to change on a dime because it suits your business plan does not mean readers will obey," says The New York Times' David Carr in a column Sunday. "Just ask Advance Publications, owned by the Newhouse family, which is back to where it started in New Orleans with The Times-Picayune." The attempted transformation of The Times-Picayune to a digitally focused news organization—initially scaling back publication to just three days a week, but more recently reversing course and launching a new publication called TPStreet to once again have a printed product every day—has been "a jaw-dropping blunder to watch," Carr says. "Advance misjudged the marketplace … and failed to execute a modern digital strategy. Now it is in full retreat with new competition," he writes. The Advocate has been raiding The Times-Picayune's editorial staff since new owner John Georges purchased the newspaper, Carr notes, and is...
Newspaper rivalry good for readers
When I was growing up in Baton Rouge, after my family moved here from New Orleans just before I was born, The Times-Picayune was thrown in our yard each morning. After school, I would get on my bike to deliver The State-Times, the afternoon counterpart of the then-called Morning Advocate.
Maginnis: Newspaper rivalry good for readers
When I was growing up in Baton Rouge, after my family moved here from New Orleans just before I was born, The Times-Picayune was thrown in our yard each morning. After school, I would get on my bike to deliver The State-Times, the afternoon counterpart of the then-called Morning Advocate. Besides the paper route, I've never worked for either paper (this is a syndicated column), but as with most of their dual readers, their newly engaged business rivalry holds my attention as much as any stories they publish these days. On May 1, both papers ran front-page banner headlines announcing their big changes: "Georges buys Advocate" and "T-P adding newsstand tab 3 days a week." The great south Louisiana newspaper war is on. This one is unlike those from the early 20th century in big cities, when the struggle was between two established papers rooted in the same market. New publisher John Georges plans to expand on The Advocate's recent incursion into New Orleans,...
Governor, mayors join Georges in announcing 'Advocate' buy
No less than Gov. Bobby Jindal, Mayor Kip Holden and New Orleans Mayor Mitch Landrieu joined the new owner and publisher of The Advocate, John Georges, at a news conference this morning to officially announce the New Orleans businessman's acquisition of the state's largest daily paper. In a crowded conference room at The Advocate headquarters, Georges spoke glowingly about his predecessors, the Manship family, the Baton Rouge market and the opportunities presented by this latest of his many business ventures. He also introduced his two top managers: veteran journalists Dan Shea, general manager, and Peter Kovacs, editor. But the event was more a passing of the torch than a briefing on what changes may be in store for the newspaper or on the terms of the sale, which were not disclosed. Outgoing publisher David Manship, whose family operated the daily for more than a century, delivered an emotional farewell to his longtime employees and co-workers. Later, his brother,...
'Advocate' to ramp up run at 'Times-Pic' under new ownership
Dan Shea, the former managing editor of The Times-Picayune who has been tapped as new general manager of The Advocate, tells Poynter that the Baton Rouge daily is looking to compete with the New Orleans paper head on under its new owner, John Georges. "Our plan is simple," Shea says. "Give the people of metro New Orleans what they want: a seven-day, home-delivered truly local newspaper. We'll provide the resources to get that done quickly." As reported by Daily Report on Tuesday afternoon, Shea and Peter Kovacs—also a former managing editor at The Times-Picayune—have been hired to lead The Advocate under its new ownership. The Advocate officially announced...
'Advocate' buyer mum on new 'Times-Pic' publications
As New Orleans businessman John Georges prepares to close on his pending acquisition of The Advocate—a deal which could be finalized in the next few days, according to sources—NOLA media group, parent company of The Times-Picayune, has announced that it's adding another print product to the marketplace this summer. TPStreet will appear in a tabloid-size format in the New Orleans area on newsstands and in newspaper boxes only, on Mondays, Tuesdays and Thursdays—days when The Times-Picayune is not published. Georges declines to comment on the latest development in the increasingly competitive battle for subscribers between the New Orleans and Baton Rouge newspapers. "My sole focus is on The Advocate," Georges tells Daily Report. "I don't focus on potential competitors." Meanwhile, sources say Georges' editorial...
Georges says 'Advocate' has all the resources, people it needs to compete
While sources say employees of The Advocate are on pins and needles as they await word on what the pending sale of the family-owned newspaper will mean to them, the man who may soon be their boss has at least some reassurances for them. "In my opinion that place has all the resources and all the people that it needs to compete," says New Orleans businessman John Georges, who last week signed a letter of intent to acquire the paper. "There are some great people who work there." Georges, who was at LSU's E. J. Ourso College of Business this morning for the kickoff of Lemonade Day Louisiana, says if and when the sale is finalized, he will do the same thing at The Advocate that he has done at all the companies Georges Enterprises has acquired over the years. "When we acquire a company, we enhance them," he says. "We make them competitive by giving them the resources they need to compete." Many publishing companies around the country are selling or closing their newspapers...
News alert: Georges signs letter of intent to buy Advocate
Daily Report has confirmed that New Orleans businessman John Georges has signed a letter of intent with the Manship family to acquire The Advocate. Details of the agreement, which was signed today, are unknown, and earlier Friday sources told Daily Report the letter of intent would only lay out the general terms of the deal and that a document outlining the specifics of the acquisition will not come until later. Georges, reached Friday night, declined to comment, citing a confidentiality agreement. The Advocate's publisher David Manship did not return calls for comment earlier this week. Industry sources have calculated the paper's value at somewhere between $30 million and $40 million, not including its some $30 million debt load. Manship has told Daily Report on previous occasions his family was asking "way more than the paper's worth." —Stephanie Riegel
'Advocate' deal up to Georges, publisher says
Nearly one month after The Advocate stunned Baton Rouge readers by announcing it is in serious sales talks with a potential buyer—later identified by Daily Report to be New Orleans businessman John Georges— negotiations between the two sides continue with no word on if or when a deal may come together. Advocate Publisher David Manship, who is not directly involved in the negotiations, says it is his understanding the ball is in Georges' court right now. "It's strictly up to him. … I guess he's thinking about it," says Manship. "Frankly, I'll be glad when it's all over." Manship declines to discuss the asking price for the family-owned paper, though he says it is more than $50 million. "I'm telling you it's high," he says. "It's not worth what we're asking for it." The value of the privately held paper is unknown because its financials are not public. However, industry experts have estimated it could be between $25 million and $50 million, not...
Making the News
Rumors that someone is buying The Advocate have come and gone over the years, and the Manships have said publicly, on more than one occasion, they would sell the daily newspaper their family has owned since the early 1900s for the right price.
Talks on 'Advocate' sale to Georges accelerating
Sources familiar with negotiations between the Manship family and New Orleans businessman John Georges over the possible sale of The Advocate say talks have been accelerated because of publicity surrounding the possible deal, and that purchase agreements could be exchanged within the next two weeks. Sources stress, however, that no firm offer is on the table yet because of the complexities surrounding the deal and the many different ways it could be structured. Though no one knows for sure what The Advocate is worth, given that its financials are not made public, publisher David Manship has said the paper still owes approximately $30 million on the Siegen Lane printing presses it bought several years ago. Sources say that debt will factor prominently into how the deal is structured. According to newspaper analyst John Morton of The American Journalist Review, an industry rule of thumb to determine a newspaper's value is to use a multiplier of between $300 and...
Manship: Asking price for 'The Advocate' is 'a lot more than it's worth'
New Orleans businessman John Georges has confirmed he is the interested buyer of The Advocate, as Daily Report first reported Saturday. At the time, Georges would not confirm he is in acquisition talks with the Manship family, which owns the Baton Rouge daily newspaper. But earlier today he told The Advocate he "loves Louisiana and loves to buy and own Louisiana companies." News of the possible sale came late Friday, when The Advocate reported on its website it is in serious talks with a potential buyer. In an interview this morning, publisher David Manship told Daily Report his paper decided to run the story when it did and with limited details because word of the deal was getting out and "we didn't want our employees to find out from someone else." Manship says he cannot discuss terms of the possible deal, nor will he confirm Georges is the potential buyer, because he has signed a confidentiality agreement. However, he says he expects a deal to...
'Times-Pic' and 'Advocate' in a rare fight for digital-age print readers
A journalism experiment that's in its infancy in Baton Rouge and New Orleans will be closely watched by an industry that has struggled in recent years to cope with declining print advertising during the recession. Edward Atorino, a media industry analyst at Benchmark Co., says newspapers in major metropolitan markets across the country are all eagerly waiting to see what becomes of the battle between The Times-Picayune and The Advocate for readers in Louisiana's largest two cities. "The day of the seven-day newspaper is fading," says Atorino. "This has been a long, deteriorating situation. It's not a shock, and we're going to see more of it." Atorino says total print advertising dollars in the United States dropped from roughly $23 billion in 2008 to $19 billion in 2011. While The Advocate has begun taking steps into the New Orleans market in response to The Times-Picayune's decision to cut its print publication to three days per week beginning Oct. 1,...
UNO, WWNO partner to launch nonprofit news initiative
The University of New Orleans is teaming up with NPR station WWNO to launch a nonprofit multimedia news initiative. The plans announced today call for creating a newsroom that produces "in-depth local reporting" on topics including government, criminal justice, business, education and the environment. The reports will be featured on a website, neworleansreporter.org and on WWNO radio. The site currently redirects to a page asking for donations to the new project, while the partners plan to launch the news by the end of the year. Content will be available, free of charge, to other news outlets. UNO says the initiative is being built on a public radio funding model, and will rely on a mix of corporate and foundation sponsors, as well as donations from readers and listeners. A release announcing the initiative says it aims to produce "thought-provoking, original reporting on key beats including public accountability and government,...
'Advocate' plans to move into New Orleans called 'a bold move'
After The Advocate publisher David Manship coyly told Business Report in June that the family newspaper is "not very adventurous" and would take a wait-and-see approach to entering the New Orleans market, The Advocate this morning laid out an ambiguous plan for moving into the Crescent City this fall with no mention of specifics or how many reporters it may staff there. Nonetheless, observer Bob Mann, a mass communications professor at LSU, calls it a "bold move." Since The Advocate pulled away its single correspondent in New Orleans in 2009, Mann says it would be surprising if the newspaper tries to staff a new bureau with more than two or three reporters. "There's a lot of Associated Press wire copy that's already coming out of New Orleans," Mann says, and the newspaper could use that to beef up its New Orleans-centric front page. A front page reworked for New Orleans, Mann says, wouldn't be unique: many large newspapers do it for other markets and it's...
'The Advocate' planning New Orleans edition
Richard Manship, president and CEO of Capital City Press—publisher of the The Advocate—says the Baton Rouge daily newspaper plans to expand into the New Orleans market with a specialized print edition in the fall. The Advocate is laying the groundwork to reach into the market following the announcement by The Times-Picayune that the newspaper will reduce publication to three days a week this fall while beefing up its online report. Manship says The Advocate will add staff to supply coverage of the New Orleans area, but did not provide specific numbers, and says plans are still evolving. The Times-Picayune, which is owned by Advance Publications Inc., announced plans in June to convert the 175-year-old New Orleans daily to a 24-hour digital news operation with a print edition only on Wednesdays, Fridays and Sundays. The newspaper also cut about 200 positions. Poynter reports The Advocate plans to enter the market in October,...
N.O. notables urge 'Times-Pic' owners to sell newspaper
A who's who of notable New Orleans residents—including Archbishop Gregory Aymond, former New Orleans Saints quarterback Archie Manning, jazz artist Wynton Marsalis and Treme star Wendell Pierce—are reportedly pressing 22 members of the Newhouse family to sell The Times-Picayune, which has announced plans to move to a three-day-a-week publication schedule this fall. "If you have ever valued the friendship you have shared with our city and your loyal readers, we ask that you sell the Times-Picayune," reads a letter from The Times-Picayune Citizens' Group—which includes more than 70 businesses and community groups—to the Newhouse family. The Times-Picayune reports others signatories include Tulane University President Scott Cowen, Xavier University President Norman Francis, Loyola University President Kevin Wildes, restaurateur Ralph Brennan, and Saints and Hornets owner Tom Benson and his wife, Gayle. "Our city wants a daily printed...
Changes at Times-Picayune shake up Louisiana media landscape
When the corporate owners of New Orleans' 175-year-old daily, The Times-Picayune, announced last month they were going to scale back publication to three days a week and gut the paper's newsroom staff, it sent shock waves through a state that treasures its traditions and clings fiercely to its historic institutions. The news touched a nerve in Baton Rouge, too, with many wondering if The Advocate might move into the New Orleans market to fill the void—or if Baton Rouge's daily might be in danger of facing a similar fate as New Orleans'. For now, Advocate Publisher David Manship says neither is an option. But ultimately, change will come to The Advocate, as it has to The Times-Picayune and a growing number of newspapers around the country. "The economics of the business are in permanent long-term decline, so it's inevitable," says Tom Baker, a New Jersey-based media consultant who was co-founder and general manager of The Wall Street Journal...
All the news that's fit for an app
When the corporate owners of New Orleans' 175-year-old daily, The Times-Picayune, announced last month they were going to scale back publication to three days a week and gut the paper's newsroom staff, it sent shock waves through a state that treasures its traditions and clings fiercely to its historic institutions.
A daily newspaper in New Orleans? Not going to happen.
(From The Daily Beast) On today's MediaBeast, Jacob Bernstein talks with two of New York's top media reporters, Lucia Moses of Adweek and Joe Pompeo of Capital New York. The topics: the fate of the Times-Picayune, and the New York Times's investigation of the Horace Mann School.
One-third of 'Times-Picayune' staff given notice
The Times Picayune today announced job cuts for 201 employees as it reduces a third of its staff. In the news operation alone, 84 of the 173 people currently employed in the newsroom were notified today that they will lose their jobs and be given severance packages. Employees who were not laid off were offered new jobs to begin this fall with Nola Media Group, the new company that will oversee news coverage for The Times-Picayune. Among the more notable names on the list of newsroom employees slated for layoffs are longtime sports columnist Peter Finney, award-winning restaurant critic Brett Anderson and religion writer Bruce Nolan. The newspaper announced the layoffs here. Finney, it should be noted, has been asked to write a sports column on a freelance basis, Editor Jim Amoss said. "Peter Finney has a permanent seat in the press box in Tiger Stadium for any...
News you can booze
Starting today, all five of restaurateur Ralph Brennan's New Orleans restaurants will begin serving a special "Save the Picayune" cocktail, reports The Times-Picayune. The drinks are part of the Ralph Brennan Restaurant Group's Cocktail for a Cause program. It was conceived in response to last month's announcement that The Times-Picayune will cease operating as a daily newspaper this fall, printing instead on Wednesday, Friday and Sunday of each week while shifting to a smaller, digitally focused news operation. And the drinks will be offered every day, not just three days a week. Brennan's group says its restaurants are pledging their support for "keeping The Times-Picayune in our collective hands seven days a week. RBRG aims to keep the award-winning staff working and reporting on the stories that matter most to New Orleanians, so 20 percent from each of the cocktail's proceeds will benefit adversely impacted The Times-Picayune employees." To read more...
Rally, petitions for 'Times-Picayune' not likely to stave off cuts
Hundreds of people, some wearing shirts emblazoned with The Times-Picayune logo and carrying protest signs, gathered in the parking lot of Rock 'n' Bowl in New Orleans on Monday for a rally in support of the newspaper and its employees. A host of business and civic leaders—including the heads of Ochsner Health System and Entergy New Orleans Inc.—also signed their names to a letter urging Advance Publications Inc., the owner of The Times-Picayune, to rethink its plan to cut publication of the city's only daily newspaper to three days a week. The Times-Picayune reports more than 70 community members and organizations, organized as the Times-Picayune Citizens Group, say their purpose is to "ensure the continuation of the delivery of a high-quality, seven-day-a-week newspaper, with access to the entire community." Meanwhile, a petition titled "Save The Times-Picayune!" on change.org had...
Times-Picayune Citizens' Group hopes to save daily paper
About 50 business and civic leaders and organizations have joined together in an attempt to stop a recently announced plan to reduce the print publication of The Times-Picayune from once a day to three times weekly, the New Orleans newspaper reports. Calling itself the Times-Picayune Citizens' Group, the body says in a press release issued today that its purpose is to "ensure the continuation of the delivery of a high-quality, seven-day-a-week newspaper, with access to the entire community." The group is hoping to begin communicating with Advance Publications Inc., owner of The Times-Picayune, and other interested parties to achieve that goal. The press release does not detail how the group believes that would be accomplished. The group's introduction comes just hours before a rally in support of the newspaper and its employees is scheduled to take place at 4...