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Posts Tagged ‘El Paso Times’

If reports are correct, my former company, Digital First Media, is going to sell to Apollo Global Management for about $400 million.

I’m not going to pretend I can analyze what that means for DFM, my many former colleagues there or for the news business. I hope for the sake of my many friends remaining in the company’s newsrooms across the country that the Apollo’s management will find a path to prosperity that doesn’t involve endlessly cutting staff. I hope the company will genuinely pursue the kind of digital creativity that the future demands and will have the staying power to let good ideas flourish.

Since seeing initial reports about the pending deal, I’ve wondered about the meaning of the $400 million sale price, reached in a long “auction” process that sought the best deal(s) to sell the company as a whole or in pieces.

The reported price tag is a breathtaking fall from what newspapers used to be worth, even in the past few years. I hope this means Apollo’s strategy isn’t to keep cutting staff to maintain profits. DFM doesn’t have much left to cut, and values have dropped as newspapers have been cutting. The best way to maximize this $400 million investment will be to build value by developing new revenue streams.

Comparisons of sales prices of media companies can be misleading. One sale might include more real estate, while another might include more debt or pension obligations. Successful subsidiaries can add value to a company. In a sale such as the DFM deal, which is essentially between two private equity companies, full terms may never be disclosed. You might not be comparing apples and oranges, but apples and lawn mowers.

I was not involved in the sale at all, other than losing my job last year as the company was preparing for the sale. But I understood DFM enough to know this was an extraordinarily complicated deal, with an array of factors that make it unique: (more…)

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Project Unbolt logoFrom the outset of Project Unbolt, a key goal was to produce a manual for other newsrooms to follow.

As I prepare to leave Digital First Media (tomorrow will be my last day), here is that manual, my recommendations for newsrooms to unbolt from the processes and culture of print. Our work on the project has not been as extensive as I had hoped, but I think we have produced a valid plan for accelerating the digital transformation of newsrooms. I hope my colleagues will continue the work and continue blogging about it.

Thanks to the editors and staffs of the four pilot newsrooms of Project Unbolt: the New Haven Register, Berkshire Eagle, News-Herald and El Paso Times. I applaud their willingness to change and experiment during a time of upheaval in our company and the industry.

Most of the manual is in earlier blog posts published here and elsewhere during the project. This post will summarize the important steps you need to take to transform your newsroom, with links to posts that elaborate on each of those points (some links appearing more than once because they relate to multiple points): (more…)

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Newsrooms need to provide live coverage of most events and breaking news stories in their communities.

Live coverage will change your newsroom’s culture and workflow quicker and more profoundly than any other step you will try. It will make your news site more timely and produce more content and deeper engagement than any other step you will try. And it won’t take much more work from your staff; they mostly just have to start working differently.

If a journalist is covering an event for your newsroom, you should cover it live unless you have a strong reason not to (more on those later). Instead of taking notes at the event, the journalist should livetweet it, using the tweets mostly as notes if you need to write a story after the event. (You still might need to take notes of things you need to check out later.)

In all four of our Project Unbolt newsrooms, live coverage has been perhaps the most significant success, in our efforts to unbolt from print culture and processes. In a series of blog posts this week and next, I will address live coverage issues.

We’ll start with situations where newsrooms should consider live coverage: (more…)

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We’re getting ready to take some of our Digital First Media newsrooms on the road.

Four newsroom vans will roll into neighborhoods in the coming months, loaded with the equipment and people of community engagement projects.

We will launch the Mobile Community Media Lab projects in Connecticut, the San Francisco Bay area, the Twin Cities and York, Pa.

Digital First Media announced plans today for 12 community newsroom projects that will engage our communities in a variety of ways. In addition to the four mobile labs, we will be launching university partnerships, remodeling newsrooms to provide space for the community and planning special projects in our existing space. (more…)

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