Posts Tagged ‘Mainstream Media death spiral’

Another One Bites the Dust: Honolulu Advertiser prints last issue

June 6, 2010

The Mainstream Media Death Spiral continues, as the Honolulu Advertiser publishes its last edition today.  From the Washington Post:

For more than a century, the Honolulu Star-Bulletin and The Honolulu Advertiser have competed to chronicle Hawaii, from the overthrow of the Hawaiian monarchy and the Pearl Harbor attack to statehood and the election of island-born Barack Obama.

That rivalry ends Sunday when the Advertiser, Hawaii’s largest newspaper, publishes its last edition after being bought out and combined with its smaller rival. More than 400 reporters, pressmen and other workers are losing their jobs.

The Advertiser is the latest casualty of the recession and the upheaval that the Internet has unleashed on the traditional media industry. Honolulu now joins Denver and Seattle among the cities served by only one daily newspaper and a shrinking pool of professional journalists.

 

Jeff Zucker Out at NBC?

June 4, 2010

What took so long?  From the NY Post:

General Electric has finalized details of Jeff Zucker’s exit deal from NBC Universal, according to sources familiar with the situation.

Zucker will leave “a couple of months” after Comcast Corp. closes its agreement to acquire a 51 percent stake in the media giant from its current owners General Electric and Vivendi — with an exit package of roughly $30 million to $40 million, under the proposed exit deal, those sources said.

The Comcast acquisition is expected to close in early 2011 after regulatory approval.

Sources close to the company steadfastly denied yesterday that any exit package for Zucker existed. GE, in a statement, called reports of an exit package “not true.”

 Nonetheless, sources tell The Post that Zucker has been telling friends that such a deal has been finalized.

Just a few months ago, Comcast and GE extended Zucker’s contract until 2013 saying he would continue as CEO of the newly merged entity, though sources say it’s clear Comcast Corp. COO Steve Burke intends to play the lead role.

Comcast, of course, can’t make any management changes until the deal is complete. Zucker has already been floating some trial balloons about his next move, telling MSNBC’s Joe Scarborough and the Washington Post’s Howard Kurtz that he’s interested in politics.

Interested in politics, heh?  Maybe Bill Clinton offered him a job too.