Tag Archives: Crain’s publications

Biz magazines aimed at the 1 percent

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Matthew Flamm of Crain’s New York Business writes about business magazines that are geared toward a high-end audience such as Bloomberg Pursuits and Forbes Life.

Flamm writes, “Luxury titles have risen and fallen before. Previous waves brought the ill-fated launch of Condé Nast Portfolio, the short-lived Absolute and the near-downfall in 2010 of Modern Luxury Media, which publishes a string of high-end giveaway titles, including Manhattan. The company ended up being bought at a bargain price by Cumulus Media, which has turned it around.

“But the recession, in addition to making publishers thrifty, also opened the door for magazines aimed at the ultra-wealthy.

“‘A lot of brands that were focused on the super-affluent before the recession have figured out a way to have a much wider appeal,’ said Barry Lowenthal, president of ad agency Media Kitchen. ‘That’s created an opening for media companies that talk exclusively to this indulgent lifestyle.’

“Publishers that can reach a global market are also finding new opportunities. Since more than half of Bloomberg terminal subscribers are outside the United States, Bloomberg Pursuits can take advantage of the boom in luxury spending overseas, particularly in Asia.

“With its first issue, it brought new advertisers to the company, including DeLeon Tequila and fashion designer Ermenegildo Zegna.”

Read more here.

A biz journal plans to become platform agnostic

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Robert Feder of Time Out Chicago profiles Michael Arndt, the new editor of Crain’s Chicago Business, and explores his plans for the publication.

Feder writes, “Before joining Crain’s, Arndt spent 10 years in the Chicago bureau of BusinessWeek and 20 years before that with the Chicago Tribune, including five years as chief economics correspondent in Washington, D.C. A Wisconsin native, he received his journalism degree from the University of Wisconsin and began his career with the City News Bureau of Chicago.

“Arndt, who previously worked with Kirk at the Tribune, emphasized their shared goal of improving the product both in print and online.

“‘In the past year, since Jim Kirk joined me at CCB, we’ve been pushing the publication to be ‘platform agnostic’ — that is, to publish our content wherever it gets the biggest bang, print or digital,’ Arndt told me. ‘We now will be moving increasingly toward ‘web first.’ Our readers expect and demand that we deliver news first on our website. We don’t intend to disappoint them. That’s not to diminish the power of print. We will continue to produce a book chockful of the most essential business analysis of any media outlet in metro Chicago—bar none.

“‘I was impressed by the high caliber of the staff when I arrived almost 18 months ago, after more than 10 years at BusinessWeek. Since then, we’ve only moved up as we’ve brought in new editors and reporters. And this is a great sign: We’re still hiring.’”

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Crain’s Chicago names new editor

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Crain’s Chicago Business has named Michael Arndt, the paper’s current managing editor, to be its new editor.

A story on its website states, “Mr. Arndt, 56, has been with Crain’s in the managing editor role since 2010. He joined the paper after a decade at BusinessWeek, where he was a senior correspondent and a senior editor in the Chicago office. Prior to that, he spent 20 years at the Chicago Tribune, both as chief economics correspondent and on the business desk, where he served as Sunday Business editor for five years.

“Mr. Arndt will oversee the day-to-day operations of Crain’s newsroom, which includes both print and digital content; he will report to Jim Kirk, Crain’s chief of editorial operations, who oversees all new and existing editorial initiatives for the weekly business newspaper. In addition to developing new products, Mr. Kirk will continue to oversee financial, budgeting and personnel responsibilities and work with Mr. Arndt in guiding the overall direction of the newsroom and content.

“Mr. Kirk had been serving as interim editor since January, when former Editor Joe Cahill left that role to become a weekly columnist for Crain’s.

“‘I’m extremely confident in Michael’s ability to lead our newsroom at this moment of great transformation in our industry,’ Mr. Kirk said. ‘He comes to the post with a wealth of experience. He is a fabulous editor.’

Read more here.

Changes made at Crain’s Chicago

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Robert Feder of Time Out Chicago writes about some staff changes made recently at Crain’s Chicago Business.

Feder writes, “I’ve always thought Lisa Leiter did a terrific job as anchor and reporter of the Crain’s Chicago Business daily online video updates. So I was sorry to see that the former Bloomberg and CNN correspondent is no longer fronting Chicago Business Today after almost a four-year run. The new face of Crain’s video is Danny Ecker, who joined the company as a part-time videographer/editor and moved up to full-time status last fall. Although Leiter’s contract expired at the end of the year, she’s still expected to work on small business coverage in print and in video as well as on other projects. ‘I’m a huge fan of Lisa’s and glad she’s continuing to work with us,’ said Jim Kirk, Crain’s chief of editorial operations.

“Also new to Crain’s is Steve Reiss, enterprise editor of the Washington Post and former deputy assistant managing editor of its Style section. He’ll sign on next month as assistant managing editor in charge of features, overseeing Crain’s Business of Life section as well as major feature stories for both print and online. He replaces Andrea Hanis, who jumped to the Chicago Tribune last June as business section planning editor. Before joining the Post in 1990, Reiss had been a reporter and editor at the Miami Herald.”

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Crain’s Chicago editor to write column beginning in 2012

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Joseph B. Cahill, editor of Crain’s Chicago Business since 2005, will begin writing a weekly business column for the paper beginning in January and step down from his editing duties.

A story on the Crain’s Chicago website states, “In his new position as columnist, Mr. Cahill, 52, will focus on providing weekly analysis of Chicago companies, leaders and industry shifts affecting the city’s business community.”‘Joe’s sharp analytical eye, combined with his deep understanding of the broad Chicago business landscape, makes him the perfect fit for this new challenge. He will be a strong new voice in the city as well as for Crain’s,’ said Jim Kirk, Crain’s chief of editorial operations, who will assume Mr. Cahill’s editing duties on an interim basis while a search for a new editor is conducted.

“In more than six years as editor, Mr. Cahill has overseen numerous changes at the publication, including the expansion of Crain’s news coverage on the Web. Under his watch, the publication won more than 100 journalism awards and broadened the paper’s investigative footprint.

“‘We accomplished a lot in the last six-and-a-half years, and I’ll always treasure my experience leading the best team of journalists in Chicago,’ Mr.Cahill said. ‘But after so many years in management, I’m ready to get back on the front lines of reporting. This new column is a unique opportunity to focus all my energy and attention on my favorite subject — Chicago business.’”

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Crain’s Detroit to expand coverage

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Mary Kramer, the publisher of Crain’s Detroit, writes about how the weekly business newspaper wants to expand its coverage in the next year.

Kramer writes, “Last year, we recognized that the kind of journalism we produce at Crain’s Detroit Business would be welcomed in other parts of the state. So we created a monthly print section devoted to offering in-depth reporting on industry trends outside of Southeast Michigan. In addition to our own subscribers in Southeast Michigan, we send this monthly issue to 5,000 C-suite executives around the state.

“We also now have weekly digests of important Michigan business news and a weekly e-newsletter that offers timely updates.

“As a news organization, we at Crain’s have never felt a stronger need in our market — and our state — for reliable business reporting than we feel right now.

“Our plans in 2012 are not to retrench but to expand and provide in-depth reporting on companies and industry trends not just in Southeast Michigan but around the state.

“We’ll be announcing how we do that soon.”

Read more here.

Chicago Trib biz section hires Crain’s AME for new position

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Andrea Hanis, an assistant managing editor at Crain’s Chicago Business, has been hired to be planning editor — a new position — of the Chicago Tribune business section, reports Robert Feder of Time Out Chicago.

Feder writes, “At Crain’s, she launched Business of Life, a weekly section focusing on the workplace culture, and added popular columns by Shia Kapos and Mary Frey.

“‘Crain’s is a great place to work, and I’ve been very happy here,’ Hanis, 41, told me Monday. ‘The Tribune just offered an opportunity that really dovetailed out of what I was already doing, where I felt like I could contribute right away, but also learn and grow. I’m not someone who loves the process of change — it’s hard, especially when you’re leaving a great situation — but I also believe you can’t just hide and try to stay safe.’

Michael Lev, the Tribune’s assistant managing editor of business, told staffers in a memo that Hanis ‘will work with all members of our department, as well as other colleagues across the newsroom, to help ensure that the Tribune’s daily business report is a comprehensive must-read.’

“Her hiring is part of an editorial expansion at the Tribune, including the addition of pages to the business section and increased staff. The newspaper also unveiled its redesigned home page Monday. ‘Work will continue the rest of the night and into tomorrow,’ tweeted Bill Adee, vice president of digital development and operations.”

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Dow Jones giving Factiva lots of attention

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Matthew Flamm of Crain’s New York Business writes Sunday about how Dow Jones & Co., the parent of The Wall Street Journal and Marketwatch.com, is looking to boost its Factiva search service.

Flamm writes, “This month, Factiva is rolling out services and products, including an iPad application, designed to attract new corporate customers. The investment comes as the division is poised for a turnaround after two years of declining revenues.

“Like other paid-search companies, including archrival LexisNexis, Factiva has been hurt by Google and the recession. Revenues were $295 million last year, compared with a peak of $320 million in 2008, according to consulting firm Outsell Inc.

“Dow Jones, which started Factiva as a 50-50 joint venture with Reuters in 1999, bought out its partner in 2006.

“The enhancements include the addition of 100 Arabic news sources, following the recent addition of 1,800 sources in 16 languages. International markets have become the biggest source of growth for Factiva and now account for more than half of its revenues.”

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Crain’s executives departing

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Matt Kinsman of Folio writes about some recent departures of executives at Crain’s Communications, which operates business newspapers in Detroit, Chicago, Cleveland and New York.

Kinsman writes that the departures included “David Blake (a 24-year-vet who most recently served as publisher of Crain’s Chicago Business and who retired in September), Bob Simmons (a 30-year vet who oversaw the Akron-based group including Plastics News, Rubber & Plastics News, Tire Business and Waste & Recycling News–which he founded–who retired earlier this month) and Marty Ross (who had been with Business Insurance since 1985, most recently as vp/publisher), who moved to the new position of vp/managing director of events and business development before leaving.

“However, some sources are saying Crain is asking some long-time executives to retire or transition to new roles and has changed the compensation plan to make transitions easier internally. ‘Bob Simmons ran Akron as an empire for 30 years and was forced to retire a couple weeks ago,’ says one source. ‘Word is that if you were over 50, you had trouble. Where you used to get a week’s pay for every year, now they get three weeks, period.’

“‘They don’t handle executive transitions well,’ says another source. ‘It’s either too soft a touch or right out the door.’

“Chairman Keith Crain denies any of the three executives were asked to leave.”

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Crain’s New York names new columnist

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Michael Gross has been named a new columnist for Crain’s New York Business, reports Chris O’Shea of FishbowlNY.

O’Shea writes, “His column will appear every other week, and he’ll be covering a variety of subjects, including real estate, finance and politics.

“Gross has written several best-selling books, and has contributed to The New York Times, New York magazine, Esquire, and Vanity Fair.

“Xana Antunes, Editor of Crain’s New York Business, said of Gross, ‘We’re thrilled to offer Michael’s distinctive New York voice to our readers. He brings a refreshing perspective on the highs and lows of the city’s moneyed culture and never fails to call it as he sees it.’”

Read more here.