Time slashing 300 jobs

Time, Inc., which publishes Time, Sports Illustrated and Fortune, is eliminating 300 jobs.

This on the heels of a Meredith Corp. offer to buy time in April failed because the price was too low and activist hedge fund Jana Partners sold its substantial stake in Time, Inc.

Magazines, like newspapers, are losing circulation and advertisers to the Internet.

54,200 newspaper, magazine jobs gone since 2003

Newspapers and magazines have lost 54,200 newsroom jobs since 2003, according to Pew Research. Newspapers lost 16,200 full-time jobs; magazines were hit harder, axing 38,000 jobs.

Blame it on a reader shift to digital media, which newspaper owners failed to get in front of while clinging to century-old strategies. That contributed to the evaporation of classified and display advertising, the heart and soul of newspapers’ existence.

When I retired from the Beacon Journal, there were 200 or so in the newsroom. Today, about 60 jobs have survived, and cutbacks to even that sparse supply keep happening. 

Worse, the most valuable and experienced reporters and editors are the ones to go, because they cost the most.

More than half the media Washington bureau jobs are gone, which must make politicians delirious. The watchdogs slinked away, whimpering.

While 54,200 were slashed from newspapers and magazines, internet-based news jobs added less than 5,000. So nearly 50,000 journalists went elsewhere, or just went away.

To read the article, click on http://washingtonexaminer.com/pew-54200-newspaper-magazine-jobs-axed-since-2003/article/2549876

Almost one-third of America's paid journalists left in 6 years 

America has lost 30% of its paid media workers in six years. Blame the Internet age and media owners who failed to get in front of and benefit from the technology revolution.

The Pew Research Journalism Project reports that print publications laid off 17,000 reporters and editors from 2006 to 2012 -- 55,000 slashed to 38,000.

Commentators lament the loss of so many “watchdogs” of investigative journalism.

Warns Alberto Ibarguen, president of the John S. and James L. Knight Foundation: It’s an ideal time to be a crook because fewer and fewer media reporters are watching what they do.

Politicians and businesses are having a field day with so few left to keep them honest.

To read the article, click on  

http://www.allgov.com/news/controversies/us-lost-30-of-its-paid-journalists-in-6-years-140416?news=852930