July was an interesting month for the national newspaper market, with the hackgate scandal dominating headlines and the closure of News International’s long-running Sunday tabloid News of the World.
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The natural hierarchy of things in the national newspaper market has changed. In most markets a hungrier number two can eventually wear down a market leader. In the newspaper market this can take decades – it really is a war of attrition and in this particular case it is between two heavyweight sluggers.
Trinity Mirror has reported a 65% fall in profits in the first half of 2011. Pre-tax profits for the company have dropped to £28.9 million, with the closure of the News of the World helping to balance out the falling profits through boosted sales.
Charles Norrie responds to Raymond Snoddy: Unlike Mr Snoddy, I rejoiced at the end of the News of the World, only marred by the sickening display of its editor and staff when the last paper was produced.
News Corporation has reported full-year operating income of $4.98 billion (£3.08 billion) – up 12% on last year – driven by the success of television and cable network programming.
Raymond Snoddy: NotW rivals have been accused of missing an open goal but in reality salvaging around two million copies in the middle of the summer and in the current competitive climate facing all newspapers is a respectable performance. But it is now clear that Rupert Murdoch made a spectacular misjudgement when he decided to close down the NotW…
According to our estimates for 31 July (for Sunday Popular and Mid-Market titles), the market is now down nearly half a million copies from June’s ABC figure.
National Magazine Company, Hearst Corporation’s main UK business, and Hachette Filipacchi have been rebranded as Hearst Magazines UK.
Future, which is set to launch its 100th digital edition for the iPad, says sales of digital editions and bespoke apps on tablets are now on track to become one of the publisher’s biggest drivers of revenue and profit growth.
After the scale of the famine in Somalia, the atrocities in Norway and Amy Winehouse’s premature death, the news agenda (both print and broadcast) is led once again by the phone hacking saga…