Brian Fuller’s blog on the state of media and communications

One helluva day in media

Posted on | October 18, 2007 | No Comments

Insteresting alignment of stars in the past 24 hours. Morgan Stanley has bailed out of its New York Times ownership. It owned 7 percent of Times stock, and Hassan Elmasry, the managing director of Morgan Stanley Investment Management, tried and failed to get the Sulzberger family to ditch the tiered stock ownership program that’s frustrated so many. Times stock dropped a couple of percentage points; it’s lost a quarter of its value this year.
Next up, the FCC is trying to ease media-ownership rules. That plan would repeal the ban on companies having big TV and big Newspaper ownership in the same city. Obviously the cries of the wounded are being heard inside the Beltway.
The BBC is canning more than 10 percent of its staff in the largest layoff in its history. Reports The Independent:

Most of the cuts will come in BBC newsrooms, from which hundreds of journalists will be laid off, and in departments making documentaries.

This is just bad, bad news.

The BBC Trust, which oversees the corporation, gave its approval yesterday to Mr Thompson’s six-year strategy, entitled Delivering Creative Future, which is intended to create a more streamlined organisation for the digital age beyond the switch-off of the analogue signal in 2012 and place a greater emphasis on internet-based services.

About the only good news I’ve come across today is that the Economist is putting its 160-year-old archive of news and analysis online for a subscription. MMmm,mmmmm, good! as the old TV commercial said.

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    July 31st, 2008 @ 12:54 am

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